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Financial Services - Driving Innovation & Transformation With Salesforce

  • elizabeth_keenan

Over the next few months, we will be focusing our attention on the Financial Services sector. We will highlight how Salesforce can be used to not only modernise company processes but also improve revenue, productivity and the overall customer experience.

In upcoming blog posts, we will also cover a number of topics - such as the challenges facing the sector and various industries, as well as investigate how companies can maximise the full potential of Salesforce.

In the image below, we have identified some fundamental elements that can help companies unlock the true value of Salesforce.


We will be examining some of these elements in greater detail over the next few weeks. However, for now, let’s first explore some of the issues facing businesses in the Financial sector.

Does your company currently suffer from any of these issues?

  • Disparate Systems - handling customer data across multiple systems?
  • Data Silos - Disconnected or isolated data and departments?
  • Lack of efficiency?
  • Too many excel sheets?
  • Unsatisfied clients?
  • Using Salesforce Classic?

We see these types of issues on a daily basis. As Salesforce consultants, it's our job to undertake complex challenges and utilise every aspect salesforce to solve them for our clients. However, we also understand these problems can be difficult and time-consuming to rectify.

The major culprit of these complications is usually the disconnected data and lack of synchronised contact with customers. Your staff may not be collaborating and sharing data or connecting with customers to the best of their abilities. We notice this is a common issue when using various disparate systems to view and update customer data.

Data Getting Misplaced or Unuseable.

Juggling data between multiple systems, excel sheets and applications is inefficient and ineffective. This is certainly not the best way to maximise time and boost sales in enterprise-level companies.

In the financial sector, whether it be insurance, personal banking, fund management, etc. there is simply no room for errors or data mismanagement.

With the right set up, employees should be able to keep track of customers - from start to finish - all in one place.

By integrating with a CRM solution like Salesforce, whose goal is to provide a 360 view of the customer, companies can not only decrease their error rates but increase productivity, efficiencies and their ROI.

Data Management and GDPR

Storing data across multiple locations is not only going to deplete your employee’s working hours but cost your company more money. You may be paying different data storage, support and integration packages and more.

One place, not many. Not siloed. Not isolated, not disconnected. All your customers' data in one place, updated, visible and clear.

With Salesforce, data from the sales lead to the paying customer are all in one place. Some customers have seen up to 147% ROI. In a recent case study from Salesforce, we were able to see how Trilogy saves and increased their business to get the following figures:

  • ROI: 147%
  • Payback: 1 year
  • Average annual benefit: $972,091

Trilogy is not the only one to experience this payback and savings. Pexlify has worked with an array of industries from the financial sector to build & implement custom applications, custom Sales Cloud solutions and custom Lightning Communities.

Customer Service

In this day and age, companies who see their customers from a holistic point view are winning.

By providing a 360 view of your customer, you are gaining a competitive advantage. This is no different in the financial services sector, or for a B2C / B2B company.

With products like Service Cloud, Community Cloud and Financial Services Cloud, customers can interact with businesses, on their own terms. Now is the time of personalised communication.

You might have heard that happy employees = happy customers. However, if your customer data is not easily accessible and communication is not personalised, customers will lose satisfaction quickly. This can, in turn, result in unhappy employees, leading to poor customer service and disgruntled customers across the board.

Workflow and Automation

Linking in with data and customer service are your workflows. With the enhancement in workflow automation, users’ can now greatly improve efficiencies while also eliminating common errors.

Your workflows are a crucial step in not only improving employees’ effectiveness but also your ability, as a company, to complete projects and tasks. Salesforce provides the functionality to fully customise your automation and workflows. We’ll touch upon these further in an upcoming post. 


In today's world, most customers do not fully trust AI alone. Customers want a mix of AI technologies with personalised human interactions. Currently, only 3% of customers choose to use fully automated Financial help/advice services. 

With the rise of AI and mobile usage, the use of Chatbots is soaring to the top. While the idea of Chatbots is not new, the technology behind it is. We, as an audience, have matured and want to be connected to companies in more ways. Chatbots help companies connect with customers immediately, stay more engaged, solve issues and take care of minor processes. If you’d like to know more about Salesforce Chatbots, you can watch this keynote.

With Salesforce, financial services companies can achieve a mix of both automation using AI and human interactions.

The facts:

  • 65% of clients are willing to share personal data.
  • 72% of these want personalised advice in return.
  • Only 18% of customers are completely satisfied and say their financial advisors do an ‘excellent job’.
  • Financial advisors that are ‘tech-savvy’ on average have 42% more assets under advisement.

The banking industry is leading the way in digital innovation according to 23% of UK adults - YouGov

By implementing a customised Salesforce solution, some of the benefits you can achieve include:

  • All your data in one place

  • Live updates on contact with customers
  • Reports, dashboards, notes, contacts etc all in one place
  • 360 view of customers
  • Customised solution
  • Advanced AI functionality
  • Integrations
  • Endless possibilities with AppExchange

Are you interested in Salesforce implementation? Take a look at our Fintech pagetoday or contact us to find out more.

Read more about how we have helped many companies, in the financial sector, with customised Salesforce solutions in our case studies here.

Thanks for reading, if you enjoyed this post please feel free to share it and tag us @Pexlify.

For more information or if you are interested in Salesforce Solutions, Contact us Today.


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