‘Financial Services Keynote: Get Smarter In The Age Of The Customer’, Dreamforce 2016

Salesforce President and COO Keith Block kicked off the second day at Dreamforce 2016 with a keynote on the financial services industry. The session discusses two of the company’s recent products - Einstein and Financial Services Cloud - and showcases successful customer stories from Farmers Insurance and Bank of America. The complete session can be viewed here.

In a global context of acceleration, the financial sector is challenged with a customer loyalty crisis (33% of retail banking customers are reported moving to another bank with a second or third product), regulatory pressure, and disruption from non-financial organizations such as Google or Apple.

In its growth journey over the past years, Salesforce has focused on developing strategies that support companies in gaining a deeper understanding of their customer. Whether in insurance, wealth management, or capital investment, companies need to deploy personalization strategies quickly and cost-effectively in order to grow faster.

Leaning on technology, Salesforce provides that framework. With Einstein, they built advanced Artificial Intelligence capabilities into the core of their platform. Financial Services Cloud enhances advisors and relationship managers’ productivity and enables them to focus more on their customers.

With Salesforce, Farmers Insurance gets a 360 degree view of the consumer, which helps them streamline their agent to customer interaction. Technology enhances this relationship by providing high quality data, which allows customer experience to become the center point. Bank of America uses Salesforce to generate predictions based on actionable customer signals like workplace changes, transactions history, and social media actions in order to then deliver tailored communication.

Financial companies depend on a combination of customer insight and employee empowerment; relationship managers and agents need to spend more time interacting with their customers than worry about cleaning and organizing data.

A trusted Salesforce partner, ActivePrime focuses on customer data quality and management, optimizing business processes and costs across industries. Advanced search technology, effortless management across on-premise and cloud-based systems, automatic update and cleaning features allow ActivePrime customers to gain maximum value from customer data.