Teqfocus
What is Salesforce Financial Services Cloud?
Here are a few key advantages of using the Financial Services Cloud:
- First and foremost, by allowing users to manage client engagements, household relationships, and financial life objectives from a single integrated platform, the service helps users boost productivity.
- One can also keep track of critical projects on any device and stay on top of responsibilities with an automatically produced list.
- Organizations may use Salesforce Financial Services Cloud to transform their customer base into an active referral network by tracking recommendations from within the company
- Financial Services Cloud reduces administrative labor, allowing advisors to provide customers with more sophisticated and individualized advice.
- By using a complete set of productivity and engagement capabilities the solution enables advisers to provide premium service to their customers.
Some important features of Salesforce Financial Services Cloud:
- Financial Services Cloud components such as Financial Account, Financial Account Role, and Assets and Liabilities can store up to 70 million data in the cloud.
- Up to 5 million records can be loaded and handled by Data Loader. A load volume of 5 million Financial Account data is supported using roll-up summary computations.
- It is recommended that you connect with a Salesforce partner if you need to support or load records that exceed these restrictions. For this purpose, you can search AppExchange for an appropriate data load partner product.
- The quantity of records imported is determined by permissions as well as the kind of data being imported. As many records can be imported, as you like, as long as you don’t exceed your organization’s total data storage restrictions. For which again, you might need to consult a Cloud expert or third-party assistance.
By following the Salesforce Financial Services Cloud implementation guide, wealth managers can now have an automated workflow, get proper data migration and data visibility, have a hand-holding relationship and mapping with the customer, and have new features every few months that gets automatically updated.
The Financial Services Cloud Insurance Data Model is another powerful tool that provides a comprehensive view of customer information and insurance policies. This cloud-based platform allows insurance companies to securely store and access customer data, as well as manage customer interactions. This data model integrates customer, policy, and line of business information in a single, unified platform and offers a variety of features that allow insurance companies to quickly and easily access data, including policy information, customer profiles, and customer claims.
The Financial Services Cloud Insurance Data Model also provides powerful reporting and analytics capabilities, allowing insurance companies to gain insights into customer behavior and better understand customer needs. With this data model, insurance companies can quickly and easily identify trends and opportunities, enabling them to make more informed decisions and be more secure, reliable, and compliant with industry security standards.
