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The benefits of Salesforce for FinTech firms

Working in the Fintech industry can be extremely complicated, which is why many Fintech firms are choosing to implement Salesforce to drive business growth. In this blog, we'll be looking at the benefits of Salesforce for Fintech firms.

Replacing Multiple Systems

Fintech companies will often have multiple solutions in place to combat new business areas, products or services as their business grows. This leads to multiple siloed processes and a lack of visibility of clients, revenue, areas for improvement and servicing.

Introducing Salesforce is a pivotal tool which is widely used throughout the Fintech community, as it’s built to scale and support growth, enabling connections to any API enabled solution. It is also easily customisable, fast to set up for new business functions and offers a huge network of Appstore partners which can be quickly introduced to your Salesforce environment. As your business adapts, Salesforce will enable you to stay at the forefront of innovation and adopt a customer-first approach.  

Boosted Sales Due to Increased Lead Conversions

Since Salesforce enables financial businesses to access the financial data and requirements of their customers in real-time, it becomes more convenient for customers to be offered the financial products they need when they require them. This way, sales are given a significant boost and leads can be quickly converted into loyal, permanent customers.

Due to the accessibility of the latest technology and improvements in processes and workflows, departments can be streamlined, giving Fintech businesses a significant profit boost while reducing expenditure.

Reduced Operational Risk

Insufficient processes, cybercrime, miscommunication, errors and lack of compliance can all lead to a number of debilitating risks within a Fintech firm. Necessary tools integrated with streamlined processes can prevent problems related to data and can maintain them while keeping them secure. This way, Fintech companies can avoid operational risk, data breaches and mistakes that can lead to a poor brand image.

Helps to Establish a Customer-Centric Business Model

With the help of Salesforce, Fintech companies will be able to easily differentiate clients by separating them into segments. This will help businesses communicate with their customers on their desired medium, so that their financial services can be adapted to customers' financial goals.

A CRM, like Salesforce, gives businesses the opportunity to identify their customer's specific requirements so that they can provide them with financial solutions when they need them the most. By establishing a more holistic, 360 customer-centric approach, Fintech companies are likely to attract more loyal customers.

Engaging with Customers Becomes Easier

The aim of Salesforce is to make it easier for businesses to deal with their customers. Fintech businesses, in particular, are expected to provide customers with a speedy response and an efficient service compared to traditional financial services. With the help of Salesforce, Fintech firms are able to transform their business practices as everything from providing the right financial products to responding to customer queries and customer onboarding becomes, quicker, easier, and, in most cases, in real-time.

If you would like to hear how Pexlify is supporting the Fintech community, as well as our projects and Financial Services Accelerators, please do not hesitate to contact us today. 

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Today's post is by our Director of Sales & Alliances in the UK, Lee Clark.

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Pexlify is a Salesforce Platinum Partner in the UK & Ireland

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