How Salesforce can help the Financial Services Sector?


The oldest industry in the world – Financial Services – is facing a significant upheaval which could possibly change the way we manage our finances. Alternative lending companies are challenging traditional banks. Traditional currency is questioned with the advent of new digital assets.

The industry is facing disruption from all sides and is close to facing an existential crisis. In this turmoil, the end users may feel the effects of uncertainty to a certain extent. However, in these times, they are the ones who are more likely to gain as well.

In order to survive, more financial services organizations are realizing that the safest way is to care of their customers. This translates into potentially a better transactional experience for the traditionally distrusting customers.

In order to enhance the experience, financial services organizations can adapt the Salesforce Financial Services Cloud to pursue their objectives.

Some of the actions they can do that include the following: 


A customer reaches out to a financial services organisation on important milestones in her life for support or service. These could include the beginning of student / professional life, marriage, buying a first home, the birth of a child and many other instances. Each interaction, whether successfully completed or not, is a touch point which the financial services organisation can learn from to make it better.

These interactions, in addition to being over a long period, could be across different divisions and with different people. Keeping a record of all these experiences in one place will increase the chances of better service as the nuances of each relationship can be understood at one place.

Check out how iSelect, an Australia based financial services comparison site caters to more than 400,000 customers using Salesforce. 


Trust has a high correlation to transparency in the finance industry. While having one view of the customer helps deliver better services for them, sharing relevant information with them in a timely manner will go a long way in building the credibility.

A large part of a customers interaction with a financial services organisation is to provide personal and confidential information. If they receive free and relevant information in return which can help them make decisions faster, quicker and with greater certainty, a strong long-term relationship can be established.

Cohen Handler, a real estate aggregator, used Salesforce to do exactly this in the Australian market. Read their story here. 


The financial services industry is associated with bureaucracy and slow decision making. While being overcautious can be a virtue when handling financial transactions, customers today have come to expect quick. Be it taking a home loan or a new mobile connection, they would prefer the transaction to be completed as quickly as possible.

Using the single view of the customer, financial services organisations can easily adapt to these expectations. The information available at an aggregate level can be used to revise the processes they have to deliver services as expected.

In one impressive case study, SMB loan provider, Prospa, has grown exponentially by using Salesforce to automate its process to quickly deliver its services to customers. Read their story here. 


Given the nature of this industry, there are truckloads of data that every financial services organisation will possess. And as we know, good data is better than gold. The straightforward advantage of analysing data is having a better understanding of the customer.

The secondary and equally important benefit is using the same data to drive internal change. Being a traditional industry, employees within the financial services organisations may resist adapting to new methods. Using strong data analytics tools it is easier to demonstrate to all team members the benefits of working towards adopting the new methods of working.

Want to understand how Salesforce analytics can help achieve strong internal communications? Read GE Capital’s story of using Salesforce analytics to encourage employee collaboration.

There are many other ways in which financial services organisations can benefit from Salesforce. We would love to know how you are using Salesforce in your organization.

At TechForce Services, we have partnered with financial services organisations helping them get the most out of their Salesforce environment.

Contact us to discuss how we can do that for your organisation as well.

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