SAN FRANCISCO, June 9, 2021 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced Corporate and Investment Banking for Financial Services Cloud, new technology to help bankers and deal teams deepen relationships with clients, manage deal interactions on one platform and compliantly collaborate and share sensitive information relevant to a deal.
As the pandemic made clear, industries need to innovate fast to stay relevant. Financial services is no exception; investment bankers need digital technology to drive efficiency, build and deepen relationships with customers, and win more deals. They also require a single view of large amounts of client data, integrated in one platform, to help avoid mismanagement and improve quality.
In addition, compliance officers are working in a banking landscape wrought with regulatory complexities, including managing sensitive information like material nonpublic information and assessing potential conflicts of interest. Banks can suffer reputation damage, business disruption, regulatory fines and revenue loss if sensitive information is mismanaged, conflicts of interest are not caught in time, or compliance is not securely maintained.
"Bankers are asking for new ways to deepen relationships with clients, facilitate warm introductions, and develop new business through data-driven client insights," said Jujhar Singh, EVP and GM of Salesforce Industries. "With Corporate and Investment Banking for Financial Services Cloud, we're providing bankers with new ways to build and deepen relationships with customers and manage key accounts by leveraging artificial intelligence. With these new innovations from Salesforce, bankers can spend their time as trusted advisors for their clients by accelerating deal pipelines and better managing sensitive information to ensure they remain compliant through every step of the deal."
"We work in a highly competitive and dynamic industry, requiring that our bankers have relevant information at their fingertips," said Tim LaLonde, Chief Operating Officer of Investment Banking at Evercore. "We are designing and implementing our Salesforce CRM to function as a central nervous system for our advisory business, enabling us to provide critical and timely advice to our clients."
Introducing Corporate and Investment Banking for Financial Services Cloud
Corporate and Investment Banking for Financial Services Cloud is designed to deliver a complete experience across the client journey, and supports new integrations with Tableau CRM and Einstein Relationship Insights (ERI) to provide bankers with purpose-built technology. This includes:
"Investment bankers today spend an inordinate amount of time trying to gather information to prepare pitch decks, capture call reports, manage deal lifecycles, and track compliance processes," said Spencer Mindlin, Capital Markets Industry Analyst, Aite Group. "To address this, banks must employ automation and AI to improve processes associated with prospect management, information collection, deal management, and legal operations. These innovations free up bankers to spend more time with clients and are key to staying competitive."
Major banking institutions are already leveraging Salesforce to engage more deeply with their clients:
Extending corporate and investment banking through the Salesforce Partner Ecosystem
Salesforce has an extensive partner ecosystem that provides unique expertise and solutions for financial institutions globally. ISV partners such as S&P Global Market Intelligence and Fenergo extend and complement the value of Financial Services Cloud. Additionally, consulting partners KPMG, Silverline and VASS are experts in corporate and investment banking and are equipped to implement financial services solutions tailored for individual customers.
About Financial Services Cloud
Built on the world's #1 CRM platform, Financial Services Cloud enables financial services institutions to build trust by unifying the customer experience across channels, geographies, and lines of business — both consumer and commercial. With purpose-built industry functionality and all the capabilities of Sales Cloud and Service Cloud, financial services firms can increase employee productivity, accelerate time to value, and deepen customer trust with every interaction. Learn more about Salesforce Financial Services Cloud HERE.
Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." For more information, please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.
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