Salesforce Financial Services Cloud Data Model

Salesforce Financial Services Cloud Data Model – In this post we will talk about what Salesforce Financial Services Cloud is and the top 5 reasons why financial services companies should implement Financial Services Cloud instead of Sales Cloud or Service Cloud.

Salesforce Financial Services Cloud (FSC) is an industry specific offering from Salesforce with out-of-the-box workflows and data models specifically for the financial services industry. FSC deals with three key service verticals listed in the table below.

Salesforce Financial Services Cloud Data Model

Salesforce Financial Services Cloud Data Model

5 Reasons Why Financial Companies Should Adopt a Financial Services Cloud Instead of a Sales Cloud or Service Cloud

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If you are using the cloud for sales or service to customer financial services you will need to create a unique data model to represent the organizations in the financial sector. Building data models from the ground up will be a worthwhile endeavor. Financial Services Cloud comes with an OOB structured and flexible data model aimed at the financial services industry.

The figure above shows the protected package data model. In addition FSC also comes with the following data model

FSC comes with a pre-packaged flow of financial services industry. Customers can make the necessary changes to these flows to suit their needs and go live faster than spending months creating custom designs. Some of the available OOB streams are listed below.

Issue a new financial account card and send it to the customer’s billing or shipping address.

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Financial Services Cloud comes with several OOB features that help users get the information they need with just a few clicks. Some of the user tools are listed below.

A visual representation of your customer relationship. Analyze in-depth connection levels and take specific actions instantly from one screen.

Financial services is one of the most regulated industries and these regulations are constantly changing. FSC comes with a number of features to help customers stay compliant.

Salesforce Financial Services Cloud Data Model

Let executives and compliance managers develop data sharing policies, so they can improve compliance with company regulations and policies.

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Deal teams can handle all information-related issues and take advantage of flexible, task-oriented data sharing options.

The Financial Services Cloud Managed package comes with multi-rich portals to share important financial data with your customers and agents.

In addition to the features mentioned above, Financial Service Cloud comes with many other features such as intelligent demand-based delivery and scoring, intelligent form calculation, rollup through monitoring designed for the financial services industry, financial services for sale or service year. – chooses a choice. A customer of a financial service.

Run as a recurring event to share expertise on Salesforce and its support centers through face-to-face meetings and online. Come learn and grow with this congregation and help spread the word again! Salesforce BlogsMeet Financial Services Cloud: The world’s #1 CRM, reimagined for financial services. Now you can connect your entire organization across lines of business, geographies and channels. From commercial banking to wealth management, 360-degree visibility into customer financial profiles puts your customer at the center of every interaction. An understanding of the client’s family wealth ecosystem helps advisors grow their book of business across multiple networks. A rich environment helps individual bankers to understand who their customers are, what financial products they have, and what they can use to achieve their life goals. New productivity tools help advisors and personal bankers work faster and smarter than ever before. Ready to unlock the full power of your financial institution?

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Matt is here to show you how the Financial Services Cloud can work for you. Like you, Matt is a manager. He has no experience with Financial Services Cloud, but he has experience with Services Cloud since he worked in customer support. He is currently working in financial management, where managers are using a patchwork of solutions to interact with customers. Needless to say, they are not happy with the results.

He recently volunteered to explore how financial services could use the cloud, as his company struggled to connect with customers. Ideally, he would like to bring his excellent experience with Cloud Services to the world of financial services.

Matt wants to know how Financial Cloud fits into the larger Salesforce system. He sees the Salesforce platform as a big layer cake.

Salesforce Financial Services Cloud Data Model

To understand how he can create the best customer experience for financial services, Matt studies the bottom line in detail.

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As expected by Matt, the financial services industry is fully integrated into the world of Salesforce. He gets the power, scalability and security he’s used to from cloud service. It’s not just an extension.

Now he really focuses on the financial services cloud, especially the wealth management aspects, because that is his business.

Matt is excited to see how well cloud financial services are integrated into his company’s business. He was worried that he would spend time creating custom items or repairing common items. He is happy to know that he has it

But almost everything is not perfect. So Matt looks at the AppExchange, the Salesforce store. Many third-party companies are AppExchange partners, and every Salesforce cloud and product has offerings. Matt Lightning looks at app testing for app components, full apps and consulting services.

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And there are offers of cloud services as well. These include financial planning, electronic forms, onboarding, customer profiling, data integration services, and compliance solutions. And the list goes on, so bookmark He writes to do more research later. Financial Services Cloud, released in 2016, is an industry-specific CRM that is emerging at a high rate. First, the product can be useful for companies in the financial industry, who want to implement CRM considering the nature of the branch, who want to make a plan in a short time at a low cost and many other solutions. of From App Exchange.

The CRM solution is designed to meet the specific needs of the financial industry. Financial Services Cloud is based on the Salesforce platform for B2C and B2B markets. The target customers for the product are customers from the following sectors:

1. Advisory Analysis. Financial Services Cloud with Einstein Analytics artificial intelligence layer has five analytics dashboards embedded in the app:

Salesforce Financial Services Cloud Data Model

2. Financial accounts and objectives. Various elements in the system to protect information about customers’ financial accounts and financial goals. Objectives allow the adviser to collect information from the client about the intention to open a financial account.

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3. Relationship Builder and Map. The system has the possibility to follow the relationship between people, organizations, create groups, know the role of each member of the group and see the relationship map.

4. Client and household profiles allow to see all information about the client’s finances in one place. For example, if you are using a retail banking console, the financial summary shows information about all bank accounts, credit balances, and the amount of cash accounts, among others.

5. Intelligent dispatch management allows to create a lead and dispatch record and send it to another person or line or organized area within the organization.

6. Role-based banker console. In addition to recording complex, multi-party relationships using groups, Financial Services Cloud also models one-to-one relationships between people and businesses. This helps in understanding areas of influence and areas of control. Within a relationship, an interdependent role defines the role of one part to another.

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7. Financial Account Issues and Caveats. It is possible to create a case from a customer account so that the consultant can see the case from the financial account page or the customer page. Also, an external financial system can now push financial account alerts to the Financial Services Cloud so that managers can keep up with important information about their clients’ financial accounts.

8. Community. Empower partners and customers by providing access to the Financial Services Cloud through Communities Licenses for external users. With Financial Services Cloud Community Cloud, access to a customer’s profile includes account history, financial accounts and more.

1-TO-1 customer relationship. Salesforce Financial Services Cloud collects a wealth of data about each customer, which helps to understand each customer’s needs, goals, family relationships and enables you to practice customer-centric sales.

Salesforce Financial Services Cloud Data Model

Increase the success of consultants. The financial services cloud has a complex of easy-to-use and intuitive tools. The powerful user experience inspired by the user’s world makes it easy for the advisor to get a complete view of the client’s portfolio. Every morning, advisors log into the Salesforce Financial Services Cloud and are presented with key tasks they need to complete each day. This includes a picture of their business activity book and early warning of important activities.

Introduction To Salesforce Financial Services Cloud

The pre-built industry-specific data model allows for reduced performance, cost savings and shorter time-to-market by reducing maintenance.

Out of the box Financial Services Cloud has all the automation, built into a central platform. The difference is in the quality of the data, which enhances and enhances the core sales and service operations.

There are two versions of the data model in the financial services cloud: person and person account model. You can choose individual brands or individual accounts in the Financial Services Cloud based on your company’s needs.

Salesforce Financial Services Cloud takes into account the needs of business-specific industries in the sector and includes features that allow consultants to increase productivity and reduce the company’s operating and support costs. The answer is important

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