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SAN FRANCISCO, Oct. 4, 2017 /PRNewswire/ -- Salesforce [NYSE: CRM], the global leader in CRM, today announced Financial Services Cloud for Retail Banking, a new industry application that enables retail banks to deliver the highly personalized, intelligent and connected banking experiences that consumers expect. Now every bank employee, from the personal banker to the teller to the mortgage officer, can have a complete view of their customers and work collaboratively to exceed expectations.
Banks are facing a loyalty problem. Consumers are becoming accustomed to having more seamless and connected customer experiences than retail banks provide today. Banks have struggled to modernize, bogged down by disparate systems and operating in silos even within their four walls. As a result, over one-third of banking customers are "hidden defectors," meaning they purchase products or services from a competitor of their primary bank.1 Meanwhile, disruptive new entrants in the financial services sector, such as Venmo and Earnest, are also taking slices of business from banks and earning customer loyalty.
"Banks are no longer just competing against one another. They're being compared to any company providing a convenient user experience that builds loyalty," said Rohit Mahna, SVP and GM of Financial Services, Salesforce. "With Financial Services Cloud for Retail Banking, Salesforce is making it possible for customers to love their banks again."
Introducing Financial Services Cloud for Retail Banking
Two years ago, Salesforce introduced its first Financial Services Cloud application to transform the way wealth managers engage with their clients and their families. Today, the company is reimagining how retail banks engage with customers, with new innovations including:
About Financial Services Cloud
Built on the world's #1 CRM platform, Financial Services Cloud enables retail banking and wealth management institutions to bring together disparate lines of business, geographies, and channels to put customers at the center of every interaction. With Financial Services Cloud, financial institutions can take a meaningful step toward collaborating together as one team to guide customers and their families along their financial life journeys. For more information on Salesforce Financial Services Cloud, visit: http://www.salesforce.com/financialservicescloud
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1 Bain, "Customer Loyalty in Retail Banking: Global Edition 2016," November, 2016
View original content with multimedia:http://www.prnewswire.com/news-releases/salesforce-announces-financial-services-cloud-for-retail-bankingunlocking-the-full-power-of-the-bank-to-strengthen-customer-loyalty-300530572.html
SOURCE Salesforce
Copyright 2017 PR Newswire
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