Salesforce has announced its financial services cloud for retail banking, which aims to give bank employees a single view of the customer.

The company is building industry-specific software solutions and first introduced its first Financial Services Cloud application two years ago targeting wealth managers.

The retail banking offering, available this month, “enables retail banks to deliver the highly personalised, intelligent and connected banking experiences,” the company said.


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“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.

The offering includes a retail banking data model and console which collates all customer information like education background, employment status, the broader household’s financial holdings, bank accounts, loans and personal identification documents.

Additionally, personal bankers can capture customer needs and intent, enabling immediate routing of customers to the right bank employee who can recommend relevant solutions that will help customers achieve their financial goals.

The console also enables bankers to stay on top of critical tasks throughout the day by aggregating information from multiple systems to create comprehensive banker to-do lists, including proactive alerts for referrals and tasks.

Data science and machine learning capabilities are built into the software to automatically identify and take action on their highest priority referrals based on intelligent scoring and insights.

For example, if a customer’s monthly direct deposits increase, and they express interest in financial planning, a personal banker can easily create a referral that will be routed to a financial advisor within the bank who will immediately have context about the customer’s needs.

With flexible APIs, banks integrate existing systems with the new financial services cloud, Salesforce said. Banks can also leverage the platform to build customer-facing apps.

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