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Getting a Centralized View of the Customer with Financial Services Cloud

Never before has the centralized view of the customer been more important for financial services institutions. Having insight into every aspect of the customer — from their buying history to what products and services they may be interested in — is invaluable to providing a personalized and seamless customer experience.

Financial Services Cloud (FSC) is Salesforce’s CRM specifically for financial services. FSC is used to help advisors and bankers track their prospects and clients, putting them in a position to provide excellent service to their clients — and is customized to the financial services industry.

A key feature of FSC is the household data model that allows users to manage their customer’s households, businesses, and individuals in one place. FSC is also able to support and differentiate between types of financial accounts such as investment, bank, and insurance policies.

At Lev, we help our customers get the most out of FSC. Learn how we helped a credit union optimize their FSC data model and Marketing Cloud configuration to make a big impact on their business.

Customer Story: Uncovering Insights From Data to Power Decisions

A regional credit union wanted to optimize their FSC data model and Marketing Cloud configuration to improve efficiencies and deliver personalized communication and service to their members.

They had already implemented FSC, but it was not working for them. Their relationship data was not being captured, they lacked a 360-degree view of the customer, and referrals and incentives were still being tracked and managed in spreadsheets.

Their goals were to:

  • Create a unified view of a customer and their financial info across all accounts
  • Gain insights to the customer and their financial network by tracking personal relationships
  • Automate data integration processes that is scalable and robust
  • Enable key functionalities related to referral and opportunity management

Through an audit on their current structure, Lev proposed a data model allowing them to gain a complete picture of the customers, their personal network, and the summarized financial information not only for the customers, but also for the customers' households.

Financial advisors can now spend less time managing fragmented data and more time building customer relationships. Lev also proposed a robust integration strategy utilizing ETL tool that can seamlessly integrate data from the banking solution to and from Salesforce.

As part of the initial FSC implementation, Lev will restructure the data model to meet business needs, and also transform their sales process so referrals and opportunities can be managed in Salesforce.

To learn more about how Lev helps our customers maximize their business impact with Salesforce tools, check out our eBook, "5 Ways Financial Services Marketers Can Level Up With Salesforce."