Salesforce launched Financial Services Cloud a few years ago for wealth management firms and institutions. It empowers your advisors, personal bankers, retail banking, assets management firms, tellers, or anyone interacting with clients to deliver the personalized, proactive service that clients expect.
It is an extension of the Salesforce Platform. It leverages a number of features that aim to personalize client relationships while giving users a 360-degree view of their company’s financial help. It also helps to accelerate user productivity with technology that helps them engage with clients like never before, and build deeper, lasting, more profitable relationships. It provides wealth management 360-degree visibility into clients’ financial profiles puts your customer at the center of every interaction.
Salesforce Unified Financial Services is one single solution catering to all the sub-vertical in the Financial Services Industry. Which covers the followings sub-verticals:
- Mortgage & lending
- Commercial Banking
- Retail Banking
- Wealth Management
Following are the benefits of Salesforce Financial Services Cloud:
- 360-View of the Customer
- Improve sales & cross-sell
- Personalize client relationships at scale
- Supercharge advisor productivity
- Make smarter and faster client decision
- Improved Team Collaboration
- … and much much more
With each new release, Financial Services Cloud is adding tons of new functionalities. Which make you more productive, and help you to provide better customer experience. Spring’20 release will give you a plethora of reasons to switch to Financial Services Cloud – if you are still using one of the core cloud (Sales or Service). This release is mainly focused on the Mortgage and Insurance part of Financial Services Cloud.
Currently, Spring’20 release is under the pre-release program. On the 3rd and 4th of January, Sandboxes will be upgraded, as a result, your organization will get the look and feel of Spring’20 release.
In case you have not read the entire 523 pages of Salesforce Spring’20 release notes, check out Spring’20 release quick summary written by me.
I combed through the release notes and highlighted the most exciting, interesting, and useful Financial Services Cloud features from Spring’20 release.
1. Monitor Distributor Performance with the Distributor Performance Dashboard and Metrics:- Now you can create an information-rich home page for sales managers with the Distributor Performance Dashboard and the Insurance Distributor Performance Metrics component. With a consolidated performance summary for all distributors available at a glance, sales managers can monitor their businesses’ overall health. They can quickly identify distributors who need attention and help them align with the company’s goals.