Salesforce Grows Financial Services CRM Offering

William Smith

Updates to Salesforce’s Financial Services Cloud include an AI-based client research tool

Salesforce Grows Financial Services CRM Offering

Enterprise software leader Salesforce is expanding its CRM offering for the financial services sector, with new technology to deepen client relationships and manage deals. 

Corporate and Investment Banking for Financial Services Cloud is tailored for finance workers, who often need to both build deep relationships with individual customers while winning more deals – requiring a single view of client data that also complies with regulatory complexities. That’s solved by ensuring only privileged individuals have access to a prospective merger, for instance. 

“Bankers are asking for new ways to deepen relationships with clients, facilitate warm introductions, and develop new business through data-driven client insights,” said Jujhar Singh, EVP and GM of Salesforce Industries. “With Corporate and Investment Banking for Financial Services Cloud, we’re providing bankers with new ways to build and deepen relationships with customers and manage key accounts by leveraging artificial intelligence. With these new innovations from Salesforce, bankers can spend their time as trusted advisors for their clients by accelerating deal pipelines and better managing sensitive information to ensure they remain compliant through every step of the deal.” 

AI Relationship Discovery 

The solution is intended to cover every stage of the client journey and features integrations with Tableau CRM and Salesforce’s Einstein Relationship Insights (ERI). That latter tool allows for relationship discovery, using AI to highlight people and companies in text and showing relevant connections. 

“We work in a highly competitive and dynamic industry, requiring that our bankers have relevant information at their fingertips,” said Tim LaLonde, Chief Operating Officer of Investment Banking at Evercore, a Salesforce customer. “We are designing and implementing our Salesforce CRM to function as a central nervous system for our advisory business, enabling us to provide critical and timely advice to our clients.” 

Salesforce’s new solution allows bankers to maximise their productivity with automated deal execution processes using Salesforce’s low-code tools, and deal analytics on historical client data. 

“Investment bankers today spend an inordinate amount of time trying to gather information to prepare pitch decks, capture call reports, manage deal lifecycles, and track compliance processes,” said Spencer Mindlin, Capital Markets Industry Analyst, Aite Group. “To address this, banks must employ automation and AI to improve processes associated with prospect management, information collection, deal management, and legal operations. These innovations free up bankers to spend more time with clients and are key to staying competitive.” 

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