Salesforce boosts Financial Services Cloud with AI and app integrations

Salesforce Financial Services multi-format interface

The update features Lighting and Einstein integration to offer better customer service features

Salesforce has expanded its Financial Services Cloud to equip businesses with the tools they need to make sure they're delivering customer service at a level that builds loyalty.

With Lightning integration, businesses can connect the consumer and commercial aspects of their business. A commercial banking app brings together customer data to streamline the process of onboarding clients and identifying the most relevant products for them, while action plans enable customer-related tasks to be automated across the organisation. 

Appointments can be booked using the Lightning Scheduler and Salesforce Surveys for Financial Services Cloud means relationship managers can identify opportunities to collect data from customers based on their interactions with the organisation.

Salesforce has also tagged on its Einstein artificial intelligence technology to add smart capabilities into the Financial Services Cloud suite. 

Einstein Bots can be used to help address customer complaints and queries, however complex the issue, while Next Best Action predicts what the customer is likely to be interested in and recommend relevant products based upon their previous activity.

Einstein Analytics comprises templates for companies to use to analyse their business. These pre-built analytics tools have been created for wealth, retail and business banking sectors, making it easy to set up and start collating data.

“Spending on artificial intelligence is predicted to reach an eye-watering £35bn globally by 2020,” Joaquin De Valenzuela, head of financial service EMEA at Salesforce said. “This can largely be attributed to the fact that businesses are beginning to understand this technology is critical to the delivery of seamless and personalised customer experiences.”

He said competition is also a contributing factor and so customers are choosing to use businesses and products that make them feel valued and are easy to understand/use when they need them.

“[Financial services] organisations face a major battle for customer loyalty that now stretches to the global stage, which is why we have introduced our Unified Financial Services Cloud to help them gather the tools they need to get closer to their customers and win,” De Valenzuela added.

“Whether it’s the ability to analyse market and customer data to deliver valuable insights, or offer customers real-time customer service through intuitive bots, we are excited to offer our financial services customers everything they need to stay ahead of their widening competition.”

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