Banking industry is all set to thrive on the cloud at present. Both retail and commercial lines of operations in this industry segment are fast adapting technology drivers, one of them being the Salesforce CRM.
What is this CRM thingy anyway?
Salesforce basically works to reinvent the entire Customer Relationship Management or CRM sphere with new products and innovations, at regular intervals. The company is single handedly responsible for the manner in which enterprise software is used on a daily basis by organizations such as banks, as well as delivered. Being completely set up in cloud, these applications are inexpensive and have low setup costs, followed by less maintenance and BYOD-enabling.
How is this a driver for the retail banking industry?
For the records, retail banks across the globe, irrespective of size are based on Salesforce. These platforms are highly collaborative because of the low cost, flexibility and maintainability associated with them. Besides they have the power to scale up and down rapidly, on demand.
Let’s dig deep into Salesforce for Retail Banking
As we all know, the times are excitingand challenging for retail banks, as these institutions have to analyze operations as well as refocus channels, according to the market and competition set. They are bound to rethink old ideologies and working mechanisms to come up with optimized models, which include better customer support.
While a traditional client or server technology solution leviesenormousprice tags, time and resource barriers, the same is not the case with cloud computing. A cloud based application does not need software installations or hardware maintenance. This frees up crucial resources and allows retail bankers to completely focus on their tasks and missions.
Standardization of retail banks on Salesforce is on the rise today. With the emergence of this model, banks are becoming all the more cooperative, flexible and scalable.
With such a culture of collaboration on the rise, retail bank operations that are spread across branches, call centers, dispersed office locations and product lines,are successfully getting streamlined and standardized. As a result, customers are getting smooth experiences from all channels.
Advantages of enterprise-class platform: Salesforce CRM for Banks
Just as in retail banking, Salesforce CRM is a success for commercial banks as well. It is assisting these banking firms to succeed in the cloud at a rapid pace! The ultimate result in both the spheres of banking is highly productive advisers and much happier clients! Implementation of customized and powerful salesforce CRM further leads to an increase in the productivity of wealth management advisors and drives customer experience further ahead. Along with the same, specific benefits that can be leveraged by the bank span through lots of crucial business hours, saved per week and on a per advisor basis. It also leads to increased advisor focus on client investments. Such a CRM is in the end, driven by a robust security feature that completely encrypts sensitive client financial data.
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