Financial Services Cloud Data Model

Financial Services Cloud Data Model – Launched in 2016, Financial Services Cloud is a high-growth industry-specific CRM. First of all, for companies in the financial industry that need to implement CRM, taking into account the specifics of the branch, products that need to deploy the system at low cost, in a short time and to take advantage can be useful. Multi-Partner Solutions. From the AppExchange.

It is a CRM solution designed to meet the specific needs of the financial industry. Financial Services Cloud is built on the Salesforce platform for both B2C and B2B markets. The target audience of the product are consumers from the following segments:

Financial Services Cloud Data Model

Financial Services Cloud Data Model

1. Consultant Analysis. Financial Services Cloud has an Einstein Analytics artificial intelligence layer and five analytics dashboards built into the application:

What Is Data Modeling & Why Does It Matter?

2. Financial accounts and targets. Allocate objects in the system to store information about customer financial accounts and financial goals. Purpose allows the advisor to obtain information from the client about the purpose of opening a financial account.

3. Build and map relationships. In the system, it is possible to follow the relationships between people, organizations, create groups, know the role of each member of the group and view the relationship map.

4. Customer and household profiles allow you to see all customer financial information in one place. For example, if you use the console for retail banking, the financial summary displays information about total bank accounts, total outstanding loans and total number of financial accounts, and other information.

5. Smart Referral Management allows you to create a Lead and Referral Record and route it to a person or queue or partner within the organization through a configured community.

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6. Role based banking console. In addition to capturing complex, multifaceted relationships using groups, the Financial Services Cloud also models individual relationships between individuals and businesses. They help understand the impact and scope of control. In a relationship, a reciprocal role describes the role of one entity vis-à-vis another entity.

7. Financial Accounting Events and Alerts. A case can be created from the customer’s financial account so that the advisor can see the case from the financial account page or from the customer’s profile page. In addition, an external core financial system can now send financial account alerts to the Financial Services Cloud so advisors can monitor important information about their clients’ financial accounts.

8. Communities. Empower partners and customers by providing access to the Financial Services Cloud for external users through community licenses. Financial Services Cloud allows access to a customer’s profile, including account details, financial accounts and more, through a community cloud.

Financial Services Cloud Data Model

1-TO-1 customer relationships. Salesforce Financial Services Cloud collects a wealth of data about each customer to understand their needs, goals, family relationships and enable customer-centric sales.

Financial Services Cloud For Banking

Increase consultant productivity. Financial Service Cloud contains an easy-to-use and intuitive set of tools. A dynamic user experience inspired by the customer world makes it easy for the consultant to get a complete view of the client portfolio. Each morning, advisors log into the Salesforce Financial Services Cloud and submit the most important tasks to complete each day. This includes a snapshot of their business performance book and active notifications of key activities.

Implementation of an already established industry-specific data model allows for reduced maintenance costs, reduced customization and shorter time to market.

All of Financial Services Cloud’s automation is built into the core platform. The difference is in the data model that augments and extends the core functionality of Sales and Service Cloud.

Financial Services Cloud has two data format options: Person and Personal Account format. You can choose Financial Services Cloud’s single object model or individual accounts, depending on your company’s needs.

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Salesforce Financial Services Cloud takes into account the specific business needs of the industry and contains features that allow you to increase the productivity of advisors and reduce the company’s implementation and support costs. The solution can use partner solutions from the AppExchange.

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Our Industry Cloud leverages the power of Microsoft Azure, Microsoft Power Platform, Microsoft 365 and Dynamics 365 to enhance these areas and adds to the breadth of Microsoft Cloud’s offerings. It is designed for industry regulatory requirements and governance frameworks, including: built-in multi-layered security, compliance and fiduciary obligations. We have built new capabilities, data connectivity, analytics and artificial intelligence (AI) tailored to the financial services industry on this foundation.

Financial Services Cloud Data Model

Virgin Money UK is a leading digital bank focused on customer experience and understands the importance of using technologies such as Microsoft’s Cloud to delight and delight their customers.

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“At Virgin Money UK, we are always looking for ways to innovate and deliver a world-class digital customer experience. Microsoft Cloud for Financial Services accelerates our customer experience digitization journey while allowing us to scale and grow. Microsoft technologies have a wide range of applications and meaningful insights; Does it help clients advise on their financial plans or fulfill their needs within their existing product portfolio? This transformation will support our efforts to improve the experience of our employees, empower our frontline colleagues to deliver the best service from the heart for our customers, and work together to make money simpler and easier. , Virgin Money UK). .

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The offering can be enhanced with an unparalleled global ecosystem of trusted partners. We work with leading ISVs and systems integrators to ensure comprehensive solutions and interoperability with their existing systems that organizations in every region need to meet their unique business challenges. Let’s take a closer look at Microsoft Cloud for Financial Services.

Countering The Myths That Hinder Cloud Adoption In Financial Services

One key opportunity is integrated customer profiling. This opportunity enables banks to break down silos between legacy systems to integrate data and gain better customer insight, customer insights and a 360 view of their customers. It combines financial, behavioral and demographic data to tailor the customer experience with a 360-degree view of the banking customer and recommends next actions.

With a 360-degree view of customers, relationship managers can customize customer journeys and personalize experiences. Household information, life highlights and upcoming events are available at their fingertips. Additionally, segmentation helps banks focus on successful customers and opportunities.

One of the innovations implemented in Integrated Customer Profiling is around Customer Churn Modeling. This capability gives client advisors insight into the likelihood of their clients becoming inactive accounts or leaving their firm.

Financial Services Cloud Data Model

This AI-powered deviation model is tailored specifically for retail banking and uses rich datasets of financial holdings (accounts, lines of credit, loans, long-term savings), financial instruments (cards, debits, standing orders, overdrafts) and even more. Situations like “planned graduations, home purchases and moves.” Using a simple step-by-step wizard, clients can use their customer data to build these forecast models, complete with a model performance grade (A, B or C) to give a sense of forecast accuracy.

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By providing this kind of modeling, we unlock insights into not only where a customer is, but where they are going, allowing banks to better anticipate the future and engage in retention activities for their highest risk accounts. This is just an early example of the innovations that come with industrial solutions for modernization.

Because loan origination processes are highly collaborative, we developed a collaboration manager for loans using Microsoft Teams to enable automation and collaboration across the front and back office. It helps improve business-to-consumer communication to speed up loan processes, reduce errors and improve customer experience.

Key features of Collaborative Manager include credit automation, cross team

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