How to Increase the Adaptation of Financial Services Cloud with Change Management

How to increase the Adaptation of Financial Services Cloud with Change Management
One of the main ways financial institutions outdo the competition is via customer experience. With technology, customers even have more access to their financial institutions. If you are looking to build customer loyalty and have customers sign up for new or higher-end products, customer experience is the way to   go. Impressive CX experiences cannot be created manually. It is virtually impossible to keep track of changes in regulations that may affect your clients while offering personalized services. You need a financial services CRM. In this article, we explore how to increase the adaptation of the financial services cloud with change management. Also read: Meet the New Age Financial Advisors: Salesforce Financial Services Cloud Good Customer Experience equals Business Success. Here’s is how to do it 5 Ways Suppliers Are Closing the Customer Experience Gap 7 Ways to Fast-Track ROI (for B2B or B2C) with the Salesforce Commerce Cloud

What is Salesforce Financial Services Cloud (FSC)?

It is a platform built to help financial institutions manage their customer relationships and data in real-time. You can view customer journeys and access insights that can come in handy to personalize your customers’ experiences. The financial industry needs to adhere to rules and regulations, Salesforce Financial Services Cloud can help you stay up to date and make the necessary changes to ensure that your clients stay compliant. The FSC frees your financial team to focus on core tasks rather than spend time collecting and analyzing customer information. Let’s explore how FSC can be used for different services in the financial ecosystem.

Salesforce Financial Services Cloud for Wealth Management

Learning how to increase the adaptation of the financial services cloud means you must understand the different applications of Salesforce Service Cloud. FSC frees advisors to focus on establishing trust and offer more customized and personalized services. With a single view, all the relevant parties can access customer information, creating an omnichannel experience. You can forecast a customer’s wealth acquisition goals based on life events.

Salesforce Financial Services Cloud for Insurance

You need to build long-term relationships with your policyholders. Salesforce FSC allows you to see all your metrics in one place. This way, you can see which policyholders to follow up with or reach out to. The agent console gives you access to insights into policy renewals and premiums, helping you to start timely conversations with policyholders. You can view a specific policyholder’s data in a single view – policies, claims, financial accounts, and household data. You can also see how the claims cut across the life or home insurance, for example.

Salesforce Financial Services Cloud for Banking

What makes the Salesforce FSC ideal for banking is the fact that it makes transaction management easier. You can merge transaction data into one place, helping you make informed financial decisions like the likelihood of a client defaulting on their loan repayments. Structured customer records can help you to further process customer requests.

Salesforce Customer 360

Whether you are using Salesforce FSC for wealth management, insurance, or banking, you can integrate Salesforce Customer 360. It simply but crucially helps you consolidate user data based on their IDs. This way, the same ID is used across all Salesforce platforms to access data about a specific customer. No matter what Salesforce tool you are using, you get to see the same customer information. This helps in creating an omnichannel experience.

A word on Customer Privacy on Salesforce Financial Services Cloud

It may seem like the Salesforce Financial Services Cloud may violate customer data privacy. It is prudent to ensure that your customers’ data is only accessed by the people in the financial institution who need it. Otherwise, this can become another reason for customers to mistrust your brand and leave. They are also less likely to recommend others if they have a terrible experience with their personal data being exposed.

how to increase the adaptation of the financial services cloud

How to Increase the Adaptation of Financial Services Cloud with Change Management

While we have seen how essential using Financial Services like Salesforce FSC can be, implementing it in your organization may not be as easy as paying for it and starting to use it. Your financial teams may resist it, as they may be using other tools working for them. Or may not see the importance of a financial services CRM. You may need to involve change management experts to help your team transit smoothly. But before you call in strangers to come and push an even more seemingly uncanny platform, you need to do some groundwork.


You need to communicate with all the stakeholders on the changes – whether you will be moving from a new platform to Salesforce FSC or integrating it to your Salesforce core. Set clear and realistic expectations. For example, every time someone uses a new system, they are bound to encounter challenges. The technical team needs to be spot on until a good number of people can use the platform comfortably.

Make Training Compulsory

Change management requires constant learning and because you are going to tag your in learning how to increase the adaptation of the financial services cloud, every user needs to be trained based on their role. No one is exempt from training. During the training, users should access all support and reference materials to make it easier for them to use the new platform.

Include all Necessary Add-ons in your Training

Don’t just train your users on the main platform that they will use, in this case, Salesforce FSC. Train them on add-ons and other software they may need to integrate the FSC with based on their role. For example, to use FSC, you need Lightning Experience. This means that you need to ensure that all your users, or at least the majority, can use Lightning before introducing them to FSC. Be careful; for users who may still have a problem using a platform, you can pair them with one who has no significant problems. This way, you avoid doing things that could break the system.

Wrap Up

We cannot overemphasize the importance of keeping customers at the center when it comes to financial services. Salesforce FSC helps you build and maintain customer relationships more efficiently and consistently. You can offer more personalized services to view customer data in one place, including life-important events. We have also delved into how to increase the adaptation of the financial services cloud with change management. Change management services make the transition seamless. As we have seen, you need to make some preparations before involving change management professionals.