How Can Financial Services Go Digital Quickly?

How Can Financial Services Go Digital Quickly?

Similar to most industries, banking and insurance were already undergoing a transformation to deliver their services to their customers via digital channels. However, the pandemic geared this shift to happen almost overnight. It acted as a final call for the financial services sector to focus on digital transactions and rethink the complete digital customer service scenario to offer customers personalized, automated, and self-service options.

Advancing Finance Digital Transformation

The pandemic has altered almost every attribute of the previous communication system between financial services and their customers. Statistics show that almost 52% of retail bank customers were branch-dependent before the pandemic. The statistics have also indicated that customer satisfaction has declined with the finance digital transformation. The satisfaction level was 23 points higher in branch-dependent customers than in the digital-only ones. This has made it imperative for financial services companies to plan for the future and provide meaningful and enhanced digital engagement that is well connected, cohesive, and personalized.


Research has indicated that the majority of customers expect an acceleration of digital transformation in the finance industry. Digital services acted as the lifeblood for millions of people stuck in their homes for weeks and months. This is also the reason why customers showed absolutely no tolerance for services that did not engage digitally. And now, when the financial services sector has finally understood the necessity of fintech and digital transformation, it is time to focus and think about ways to accelerate the shifting process and provide customers with a connected and innovative digital experience. 

Rethinking the Digital Experience

Delivering new products and services quickly is of utmost importance now as every action of yours is closely analyzed by in-house stakeholders, shareholders, regulators, customers, organizational leaders, and the government. Traditional services were not designed to respond to the level of urgency, speed, and agility that is required for delivering to today’s new-age digital customers. The new-age customers expect a robust, intuitive, and connected digital banking experience that will streamline the transaction process without having any time or location restrictions. 


Simply utilizing the latest technology and automating services can never be a substitute for in-person engagement. To enhance customer experience, financial services companies must aim at striking the perfect balance between automation and self-service, in addition to live person interaction through phone calls.

The financial services sector must understand that customers are not fully familiar with the new tools and services offered by them, and it might take some time and help for the customers to understand the proper functioning of their services. Hence, financial services must extend adequate assistance to the customers through their employees and systems.

Coping With the Transformation

A connected digital experience platform can act as a solution for digital transformation-related problems faced by financial services companies. It can help them in scaling their capability of processing large and unanticipated inflow of loans by offering digital solutions for replacing their traditional system and enabling the application, approval, and lending procedure. 

Salesforce Experience Cloud is a digital experience platform that aids fintech companies in quickly establishing connected digital experiences for their customers, partners, and staff. Salesforce for the fintech industry facilitates the creation of branded websites, mobile applications, digital banking portals, and other digital endpoints for enhanced communication with customers. This aids in digitizing and automating entire organizational processes for gaining acceleration in a fast online world.

Using Salesforce for Establishing Relevant Customer Experiences

For digital transformation to be effective, it is crucial to build pertinent customer experiences and match customer expectations of receiving a fast, intuitive, and convenient form of financial interaction beyond physical bank branches. The digital experience offered by financial services will determine their connection with customers and the ability of customers to engage with the provided services and take action.


Salesforce Experience Cloud facilitates organizations to introduce new services fast, link each experience to data, and attach everything together across each customer interaction with them. It also provides turnkey financial services applications for speeding up organizational digital efforts. 


It is recommended to opt for an already-built application. Establishing digital experiences from the ground up requires notable ongoing investment in developer resources to implement, manage, and support every undertaken digital adjustment.


Salesforce for the fintech industry offers convenient portals or apps designed to suit specific use cases. For instance, mortgage loan applications or the PPP (Paycheck Protection Program) distribution can be implemented without any coding necessities. The templates offered do not have any restrictions. Each pixel can be customized according to customers, distribution partners, and intermediaries.


The use of Experience Cloud offers a single, unified, and complete view of the customer, from email and digital engagement to service.


Salesforce Cloud provides everything financial services need to achieve exceptional growth targets and rapid changes relevant in today’s fast-paced digital industry. Manras Technologies, a Platinum Salesforce Partner, will aid your financial organization with Salesforce services deployment, staff augmentation, and Salesforce relevant messaging tools. Our expertise and industry knowledge will be of immense benefit for the Salesforce-powered transformation of your organization.


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