March 15, 2022

Reasons Why Commercial Banks Should Consider Moving to Salesforce Financial Services Cloud


The financial service arena has witnessed immense transformation in the recent past. In today’s world, business is all about managing and maintaining cordial relationships with customers and prospects. With rising competition, it has become indispensable for institutions or service providers to offer personalized services. However, the method of managing and maintain the relationships has undergone a sea change in the modern digital world. Particularly, technology has a significant role to play in all these. If your company wishes to build cordial relationships with potential and existing customers, boost revenues, and deliver the right information at the right time, then it needs not just industry expertise, but also the right technology.


In the field of commercial banking, one of the unique challenges in the digital world is meeting customer expectations. In today’s world of information age, it is indispensable to have in-depth knowledge of every customer’s industry to customize your approach and also deliver your services to the customer swifter than before. Today’s customers expect not just banking services, but also goal-based planning, personalized services, proactive insights, and much more. If commercial banks want to compete hard with fintech firms in creating seamless, effortless and personalized experiences for customers, then they should be one step ahead of their competitors in the technological landscape. The interactive service that modern-day customers expect can be thoroughly fulfilled through the help of Salesforce.

Benefits of Financial Services Cloud (FSC) for Banks

In today’s competitive landscape, customers expect a more connected, intuitive experience from their financial institutions such as banks. Banking institutions vie on the basis of timely and relevant communications, insights, and access across different types of devices. With FSC, you can track and visualize customer relationships with ease, source and prioritize referrals, systematize transition and coordination among key stakeholders, and provide visibility throughout banking and borrowing processes.

With FSC, banking and financial institutions can:

  • Adjust to regulatory changes in mortgages and consumer lending
  • Systematize next-level customer care for retail banking
  • Foresee member services based on the customer journey
  • Follow and automate commercial lending progress
  • Fulfill regulatory demands at will for commercial banking
  • Assist clients in accomplishing their financial goals and strengthen relationships with them using the enhanced customer 360-degree view
  • Solve any challenge confronted by them, right from providing real-time access to critical data to providing meaningful insights at every stage of a customer’s journey
  • Empower themselves to efficiently interpret their business books and define actions to improve their growth
  • Create a seamless experience that promotes more personalized client engagements
  • Get access to all the information required to fortify every client engagement opportunity with a unique Client Data Model.
  • Deliver superior services with portfolio re-balancing, custodian data services, and asset aggregation across every account with the help of strategic partnerships with the best-in-class industry leaders.

Why Banks Should Move to Salesforce Financial Services Cloud (FSC)?

Salesforce offers a perfect platform in the form of Financial Services Cloud (FSC) that can do everything you want for your financial services team. It’s a proven platform that provides you real-time access to vital data, visibility into unique customer journeys, and meaningful insights at every stage of the customer lifecycle. The following are some of the reasons why banks should seriously consider moving to Salesforce FSC.

  1. Boosts Customer Relationships

Salesforce FSC enables the users to keep track of customers and maintain better relationships. It ensures robust coordination between the stakeholders, providing them the much-needed visibility. Salesforce FSC allows banking institutions to adapt to the changes in regulatory affairs about mortgages.

Salesforce FSC helps in standardizing the best-in-class customer care in retail banking. Banks can keep track of and automate the progress of commercial lending. Moreover, it fulfills the regulatory needs required for commercial banking. Salesforce offers the much-needed flexibility to banking institutions, helping the market to perform at a swifter pace. It offers institutions the ability to better the program and its performance.

  1. Helps Overcome Challenges in Technological Transformation

Salesforce FSC reduces the level of conflict, improves efficiency, and boosts the everyday communication among the team and everyone else associated with the service. It satisfies the existing customized service demands and gets rid of manual processes. Focusing on the core functional needs of the financial service domain has systematized its method of operation. Financial and banking institutions have ultimately succeeded in finding the perfect tool to address the entire range of challenges in a scenario involving technological transformation.

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  1. Empowers Agents Via Commercial Banking Application Feature

This feature in FSC empowers agents to focus in the direction of high net-worth individuals and effortlessly associate with new clients. Commercial and business bankers get an exclusive view of their accounts, records, and opportunities on their new index page. Furthermore, features such as Treasury Administration and Smart Business Referrals in FSC allow the relationship managers to get an insight into the particular interest of the client in a banking service or product and redirect the referrals to the concerned department.

  1. Tracks Leads & Referrals

A referral in FSC goes through multiple stages from creation to conversion. The FSC package includes several referral elements that can aid advisors and retail bankers keep track of the referrals. By default, the system creates an ‘Account’ and an ‘Opportunity’ after conversion. Referrer information can also be viewed on an Individual record to identify the highest referrers.

  1. Helps Promote Great Banking Experience

Salesforce FSC enables relationship managers and customers to schedule appointments that are installed in the Salesforce workflow. A sales representative can schedule a meeting with a prospect for a colleague, and customers can book a meeting with an insurance broker via a mobile app or website. The customer relationship managers can also view the appointment catalogs to further promote a more satisfactory banking experience.

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  1. Provides Advisor Analytics

FSC provides access to analytics reports and dashboards that empower financial advisors to make sound decisions swifter and better serve their clients. Financial institutions, such as banks, can also customize several pre-defined reports and dashboards as required. Tableau CRM for Financial Services is also a significant addition for financial institutions looking for more advanced analytics and predictive alerts, powered by Artificial Intelligence.

How TechShiney Can Help You?

We combine deep experience in financial services with expertise in Salesforce FSC. By minimizing friction and enhancing efficiency, FSC intensifies and optimizes the everyday and urgent communications and workflows between your teams and your customers. The financial services environment is continuously evolving toward more customized experiences, real-time internal and external collaboration, predictive analytics, and the exclusion of paper processes.

FSC is the trailblazer of this movement, and TechShiney is uniquely positioned to help you reap the full benefits. As a Salesforce Partner with expertise in financial services, we leverage the best practices acquired through numerous implementations, with a core financial services team that possesses industry knowledge across all streams of business. We know FSC like the back of our palm and we are ready to combine your needs with the power of the Salesforce platform.