Meet Service Process Studio

Learning Objectives

After completing this unit, you’ll be able to:

• Explain the importance of services in the banking industry.
  
• Understand the issues that banks and financial institutions face with service processes.
  
• Describe the importance of Service Process Studio.
  

The Importance of Services in Banking

Services have a huge impact in the banking industry. Customers expect their service interactions to be easy and consistent across all communication channels, including email, mobile phone, and apps. Customer experience governs the products a customer buys, determines the level of customer retention, and ultimately decides a bank's success.

Recent research provides several insights.

• More than 75% of people choose their bank based on positive customer experience.
  
• 90% of all interactions with a bank are service-oriented.
  
• 55% of customers leave their bank due to poor customer service.
  
• Only 16% of customers say that they’re satisfied with their bank’s digital experience.
  

The figures show clearly that great customer service is critical for customer retention in banks, and this goes for other financial institutions too. Still, most banks fail to deliver a pleasant experience due to the many challenges they face in serving their customers.

Finance and banking industries are driven by trust, and they can go a long way by delivering world-class customer experience and gaining customer loyalty. Banks struggle to give customers all the attention they expect due to considerable personnel requirements and other operational costs. However, with today’s tech-savvy generations, financial institutions can use technology to consolidate and streamline processes, saving time and money, and most importantly, delighting customers.

But how can financial institutions use technology to improve customer service? Before answering that, let us look at some common customer challenges.

Current Issues with Service Processes

A service process can relate to any banking operation, including customer data updates, overdraft protection, or accounting reconciliations. Implementing and running effective service processes are key factors in customer satisfaction. However, building service processes and integrating them with other banking and external systems can be time-consuming, and complex.

As Cumulus Bank expands its business and operations, it sees the number of service requests and associated service processes growing, exponentially. The entire team at Cumulus has identified gaps between service delivery and customer expectations. So what’s causing these gaps? 

• More than a thousand service processes and lack of automation
  
• Meeting customer and employee expectations in an increasingly competitive landscape
  
• Simple straight-through processing (STP) and complex back and middle office collaboration requests
  
• Challenges with core banking and other banking systems integrations
  
• Slow service delivery and long wait times
  
• Falling short when resolving customer problems
  

To retain customers and maintain a competitive edge, Cumulus wants a robust framework, including capabilities to:

• Design customer service processes quickly and efficiently.
  
• Build service processes and automate their fulfillment.
  
• Create service process definitions to configure and organize multiple actions or tasks required.
  

The Team at Cumulus

Meet Matt O’Brien, trusty Salesforce admin at Cumulus.

Matt hears from Ryan Dobson, a financial advisor at Cumulus, about the increase in customer issues. Now’s the perfect time to bring Ryan up to speed on Service Process Studio for Financial Services Cloud (FSC).

Introducing Service Process Studio

Service Process Studio is a comprehensive framework that helps service agents provide enhanced customer service experiences through real-time integration with core banking functions and transactional data. Use Service Process Studio to design seamless customer service processes quickly and efficiently. Service agents can launch the processes to carry out all types of activities, including customer address updates, checkbook orders, request for statement copies, and more.

Service Process Studio Concepts

Service Process Studio takes you through a set of steps starting with providing the basic details through to associating a fulfillment flow. The diagram shows the service process workflow and how each building block supports workflow design. 

The main steps in creating a service process definition are:

• Request Intake: Design a streamlined request intake process using data attributes, OmniScripts, and preprocessors.
  
• Create Case: Create an Apex class and invoke the API, which includes passing all the attributes from the request intake form as input to the case creation.
  
• Request Fulfillment: Build a fulfillment flow or a flow orchestrator to automate the fulfillment of a service process request.
  

High-Level Structure of Service Process Studio

The flow diagram shows the tasks performed by the key roles who use Service Process Studio.

The admin or developer creates and activates the service process definition. Once the definition is active, the admin associates the service process to an Action Launcher deployment. In a customer-service scenario, the service agent launches the service process definition from Action Launcher on a record details page. The process guides or supports the agent in carrying out their day-to-day jobs to be done.

About This Module

We assume you’re a Salesforce admin who’s authorized to set up Service Process Studio. If you’re not an admin, that’s OK. Read along to learn how your admin would take the steps in a production org. While this module focuses on retail banking, Service Process Studio works equally well with other FSC subverticals, including insurance, wealth management, and commercial banking.

The example service process definition and other references in this module use the British spelling “cheque.” You can customize the spelling of labels in the UI during implementation to support a specific language and locale. Throughout the module, you’ll come across the term “cheque” to match the UI and “check” or “checkbook” for more general references. 

Up Next

Ryan asks Matt to get started setting up the solution, right away. Follow along as Matt prepares the org in the next unit so he can start using Service Process Studio. Get ready!

Resources

• Salesforce Help: Service Process Studio
  
• Salesforce Developers: Service Processes for Financial Services Cloud