Salesforce & FinTech Firms

Due to the complexity of the #Fintech industry, many Fintech firms choose to implement Salesforce in order to drive business growth. In this blog, we will discuss the benefits of Salesforce for Fintech companies. We will also discuss how Salesforce can be effectively used to address a wide range of operational challenges faced in this industry.

The term "fintech" refers to the use of #technology to manage customer-facing and back-end processes in the financial services industry. This can include anything from online transactions to #stock investments, among many other things. Due to the complexity of the technical processes involved in the FinTech industry, Salesforce is most frequently the platform of choice for all their needs. When FinTech companies are constantly under pressure to scale up operations and increase profitability, investing in a #finance #CRM system such as Salesforce can help them maintain a competitive edge.

Why Fintech Companies use Salesforce?

Salesforce has the ability to help companies grow by supporting primary transactional activities, providing customer-centric business models, providing analytical insight, leveraging seamless omni-channel experiences, and providing hyper-personalized customer service.

In this industry, there is a great deal of transactional activity, and Salesforce can support its core financial operations. A few examples include fund transfers, case escalation, and handling changes related to customers and accounts. Salesforce can accomplish the above-mentioned tasks quickly and seamlessly with front and back-office processes.

With Salesforce, FinTech companies are able to analyze their customer data to gain valuable insight into their preferences, behavior, and purchasing patterns. Insights such as these enable companies to segment their customers and offer them different products suited to their customers' needs/requirements. As a result of Salesforce's analytical capabilities, the sales team is able to identify prospects and present the best-fit products accordingly. The result is a higher conversion rate and an increase in profitability. Furthermore, analytics also assist sales managers in tracking the performance of their teams against their daily targets.

The omnichannel experience that Salesforce provides customers is one of the major benefits of deploying CRM capabilities at work. It makes banking more convenient and accessible for customers when they have access to banking through different digital channels, including mobile apps, social media, websites, etc. Banks are also able to reduce their dependency on physical branches and support staff as a result of this technology.

Many of us are aware that Salesforce enables companies to gain a deeper understanding of their customer's data for marketing purposes. In this way, the sales team can craft a hyper-personalized sales and communication strategy for each customer. Thus, representatives are able to build trusting relationships with customers.

Benefits

• Replacing Multiple Systems. The growth of a fintech company often necessitates multiple solutions to cope with new business areas, products, and services. Salesforce enables you to stay at the forefront of innovation and adopt a customer-centric approach as your business evolves. 
• It is easy to customize Salesforce. It is quick to implement various new business functions. In addition, it offers an extensive Appstore of partners that can be quickly integrated into your Salesforce environment.
• Increased sales due to an increase in lead conversions. It is possible to increase sales and convert leads into loyal, permanent customers in a short period of time.
• Streamlined processes. Using the latest technology and improving processes and workflows, Fintech businesses are able to boost their profits while reducing expenses.
• Reduced operational risk. A Fintech firm may be exposed to a number of debilitating risks as a result of insufficient processes, cybercrime, miscommunication, errors, and non-compliance. Integrated tools with streamlined processes can prevent data problems and maintain them while keeping them protected.

Salesforce is designed to facilitate the interaction between businesses and their customers. By using Salesforce, Fintech firms can transform their business practices, from providing the right financial products to responding to customer inquiries and onboarding customers, faster, easier, and in many cases in real-time.

Are you seeking Salesforce talent to join your Salesforce team? We have a number of Salesforce candidates with experience in the fintech sector seeking their next career opportunity. Get in touch with one of our dedicated consultants today for more information