Banking Service Management Improvements Through Financial Services Cloud

Banking service management is crucial for any financial institution but can be challenging. Everything from security questions to verification processes must be handled with 100% accuracy to satisfy customer needs and keep things running smoothly.

A company's service keeps customers happy and satisfied after the initial sale. However, only some organizations can provide services at the highest level due to factors like needing more resources and technological barriers.

Here's a success story about how one of Coforge's clients addresses this problem through Salesforce's Financial Services Cloud. Our project team organized several workshops with the client to understand their pain, gather relevant information, and address it head-on.

The Project Description:

Our Mortgage Banking Services Project aims to resolve customer service management challenges through digital transformation with Salesforce Financial Service Cloud (FSC). It addresses the client's Mortgage Servicing product line.

Many types of case management-related inquiries and processes must be addressed to efficiently resolve customers' requests.

The Problem Statement:

Service agents need several pieces of information while addressing customers' requests. The only challenge is that it's dispersed among different banking systems, requiring logins into multiple applications to piece information together. This makes for a time-consuming process that can damage organizational efficiency and translate to customer dissatisfaction. 

In this specific case, the client referenced used old, traditionally-designed applications, time-consuming processes, and workflows. Their mix of tools created a complicated integrated platform, and the goal was to remove this obsolescence through the Financial Services Cloud.

Our Solution:

We created a single integrated platform using the Salesforce FSC managed package. The Coforge team consolidated the bank's essential information into a single place in Salesforce via API services, and we implemented a slew of functionalities, including:

• A home page:
  • Consisting of various custom and standard components to display customer account information.
  • After searching for customers using account numbers, the webpage also works as a landing page.
• An account view component:
  • A place where agents can get a customer's account information in a summarized form.
• A warning component:
  • This component allowed agents to see all active warnings on an account, i.e., bankruptcy, payment misses, decease, etc.
• An inquiries component:
  • Allowing agents to navigate, choose, view, and answer any inquiry, like property, transactions, fees, overpayments, etc.
• Redemption statements:
  • Enabling the bank to track redemption data, withdrawal requests, and all applicable taxes.

The bank saw significant improvements. Our solution enabled its agents to address their customers' queries much more quickly and obtain better data visibility without needing to access any external systems. We look forward to seeing the bank agents continue enjoying a fully digitalized experience with several inbuilt functionalities that will make their working life easier very soon.