Build and Manage Client Relationships
Learning Objectives
After completing this unit, you’ll be able to:
- Identify Financial Services Cloud features that simplify onboarding.
- Explain how Financial Services Cloud helps you track and build client relationships.
- Describe the tools for improving customer service.
Meet Financial Services Cloud Solutions
No matter which part of the financial services industry you work in—banking, lending, wealth management, or insurance—your teams share some common goals: get customers started smoothly, build trust over time, and deliver fast, effective service.
This unit explores the core Financial Services Cloud features that support those goals across your entire organization. You’ll learn how these capabilities align with the key stages of the client journey: onboarding, relationship management, and service. These features serve as a foundation for other specialized processes to build on.
This module covers just a handful of the helpful features in Financial Services Cloud. For a complete list, read Learn About Financial Services Cloud and Explore and Common Capabilities in Financial Services Cloud in Salesforce Help.
Onboard Financial Clients
Make a great first impression by reducing the time to onboard customers, one of the most complex financial-services processes. Streamline onboarding activities with features to gather customer information, screen for risk, collect consent, and more.
Discovery Framework
Use Discovery Framework to create assessments and digital forms that collect and validate data to reduce time-consuming manual data entry. Here’s an example form that collects customer details.
Combine Discovery Framework with Omnistudio to manage every aspect of questionnaire-driven data collection in compliance with your policies.
Know Your Customer Data Model
Use the Know Your Customer (KYC) data model to perform identity verification, risk assessment, and screening checks of accounts, contacts, and leads with ease.
Document Checklist, Document Matrix, and Validate Documents
Define document requirements with Document Matrix, track document submissions with Document Checklist Items, and efficiently verify submitted files with Validate Documents. Together, these three features provide an automated solution for collecting and verifying documents. For example, define which form of income verification you need from customers, make sure your team collects the right data, and then compare the information against customers’ KYC records in a single view.
Intelligent Document Automation and Disclosures and Consent
Use Intelligent Document Automation to manage consent and disclosure documents and generate authorization request forms. Track whether a person has seen, signed, or rejected an authorization request form, and how and when they gave their response. You can also use the Disclosures and Consent feature to deliver annual privacy statements to customers.
The screenshot here shows the authorization requests for a mortgage initiation.
This data use purpose record defines the reason behind collecting and using a customer's data. It relates to records that track authorization forms and requests for information from a client.
Stage Management and Integration Orchestration
Define process stages, required information for each stage, callouts to external systems, and transitions between stages with Stage Management and Integration Orchestration. Stage Management simplifies complex processes by giving you control over each step. With Integration Orchestration, you can create and execute callouts to external services.
How do they work together? Stage Management can define an onboarding workflow, transitioning an object through Applied, Risk Screening, and Approval stages. Integration Orchestration can make calls to external services for identity verification when a process hits a particular stage.
Nurture Client Relationships
If customers trust their financial institution, they’re more likely to recommend it to others, add products and services, and share more about themselves. Explore some of the tools for building trusted relationships.
Group Membership, Households, and Actionable Relationship Center
Track your clients’ households, personal relationships, and professional connections using person accounts and the Group Membership data model. For example, connect a client to their family members, households, lawyers, and accountants with a standard set of objects.
Then, use Actionable Relationship Center (ARC) to explore these connections through an interactive component to get to know your customers.
Life Events, Business Milestones, and Interest Tags
To better understand your clients, use the Life Events, Business Milestones, and Interest Tags features. Life events and business milestones track significant events in a customer's personal life or a business's journey. They give you a quick view of these important moments so you can anticipate needs, educate clients about financial plans, and act at pivotal times.
Similarly, Interest Tags help you add custom tags to client records to capture preferences, interests, and opportunities.
Your team can review a client's interests for a quick look at what matters most to them before a meeting or during a call.
Contextual Alerts
Get just-in-time updates about your clients’ financial situations with data from Financial Services Cloud and Data Cloud. Contextual Alerts bring your teams timely information about what customers want and possible opportunities. They use the Record Alerts feature to deliver actionable insights based on changes in client financial data and behaviors, just in time for you to take action.
Financial Accounts
Get a picture of your customer’s financial standing with standard Salesforce objects for tracking financial accounts. For example, this screenshot shows a financial summary page component with related lists for different types of accounts.
These industry-specific data models reduce the need for customization. To learn about Financial Services Cloud data models, read Data Model Overview in Salesforce Help.
Summary Documents and Interaction Summaries
Prepare your team for meetings with formatted account summaries that compile information about customer accounts. For example, a banker can create a tear sheet before a client meeting to have all their customer’s business information on hand for a more meaningful conversation.
Your team can also capture notes about any meeting or interaction using interaction summaries, and then coordinate follow-up activities. To make these tasks even easier, use the Banking Relationship Assistance template in Agentforce to organize notes and summarize takeaways after a meeting.
Offer Efficient Customer Service
Customers expect timely, efficient, and personalized service from their financial institutions across all channels, including self-service, mobile, and chat. Use Financial Services Cloud to improve service with a single view of data from your systems and use automation and Agentforce agents to speed up customer service.
Service Process Studio
Create end-to-end service processes for your reps quickly and efficiently using Service Process Studio. For instance, automate customer data updates, overdraft protection, and accounting reconciliation. Financial Services Cloud includes several prebuilt service processes that customers can use in self-service channels or that service reps can open from Salesforce. You can start with the prebuilt Fee Reversal, Address Change, Dispute Transaction, and File Complaint processes, or build your own.
Complaint Management and Transaction Dispute Management
Complaint Management provides a streamlined process for service reps to capture and track client complaints directly from a Person Account record. Case agents can also track and monitor submitted complaints with the Public Complaint and Case Participant objects, both related to a case record.
Here’s an example complaint form in the Retail Banking app.
Transaction Dispute Management also helps service reps collect and submit customer disputes related to financial transactions. Then they manage dispute resolution using the Case object and related objects specific to transaction disputes.
Banking Service Assistance with Agentforce
Help your service reps answer common client questions and automate tasks for faster service using the Banking Service Assistance skill for Agentforce. Your reps use it to handle balance inquiries, transaction reviews, lost card reports, fee reversals, stop check payments, and travel notifications. Integrate these tasks with your core banking systems using relevant information like Salesforce and transaction data.
Timeline and Record Alerts
Help your reps stay customer-focused with Timeline, a comprehensive and chronological view of customer interactions that displays key events in one place.
Use Record Alerts to notify reps when it’s time to take action and advise them how best to help customers. For example, use record alerts to notify a rep of a low balance, so they can advise the client to transfer funds and avoid overdrafts.
What’s Next
Now that you’ve seen how Financial Services Cloud supports onboarding, relationship-building, and service across your business, it’s time to explore how you can use the features in specific lines of business.
In the next unit, learn how Financial Services Cloud powers sector-specific workflows for retail banking, wealth management, commercial banking, and debt collections.