How to facilitate your banking operations with Salesforce process automation: from loan processing to customer service

According to the reports, the slowing global economy influences banks' strategic choices. Customers demand fast, personalized services, but traditional processes can be slow and labor-intensive​. Challenges such as outdated technology and manual processes hinder banks from delivering the service customers expect.

Salesforce addresses these challenges with advanced automation capabilities. By automating loan approvals, customer service, and compliance checks, Salesforce helps banks improve efficiency and customer experiences.

At Noltic, we have extensive experience in automating banking operations with Salesforce. In this article, we’ll share our insights on how Salesforce digital process automation can transform your banking operations, from loan processing to customer service.

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Benefits of Salesforce digital process automation in banking

Depending on current needs and challenges, Salesforce can benefit your bank in different ways:

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Increased efficiency

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Salesforce process automation can significantly improve efficiency in the financial sector. For example, banks often face time-consuming loan processing tasks that require manual input and verification. Salesforce process automation tools simplify this, reducing the time needed for loan approvals from weeks to days. This way, your bank can save resources and speed up the customer's journey, delivering faster service.

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Better customer service

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Customer service is a critical area in which the Salesforce automation process can make a big difference. By automating routine inquiries and providing instant responses through chatbots and automated email systems, banks can offer quicker resolutions to common customer issues. You can also enhance customer support systems to handle basic queries, allowing agents to focus on more complex tasks.

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More accurate data

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Manual data entry often results in costly mistakes in the banking industry. The automation process in Salesforce reduces these errors by capturing and verifying data. Banks can also integrate their customer relationship management (CRM) system with other financial software, ensuring customer information is consistent and up-to-date across all platforms.

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Regulatory compliance

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Compliance with regulatory requirements is crucial for banks, and Salesforce process automation can help to maintain compliance easily. By automating compliance checks and reporting, you can ensure you adhere to regulatory standards without the risk of human error. Optimized workflow minimizes non-compliance risk and frees up resources for other critical tasks.

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What banking processes can be automated with Salesforce

Process automation solutions in Salesforce can transform traditional banking processes, reducing manual effort and enabling faster, more reliable services. Let’s take a closer look at the main processes Salesforce can facilitate:

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Loan processing

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The traditional process involves several manual steps, such as data collection, document verification, credit checks, and approval, which can lead to bottlenecks and delays. These steps require extensive paperwork and coordination between departments, increasing the chances of errors and inconsistencies.

Salesforce automates these steps using pre-filled forms and workflows to speed up approvals and reduce processing time. Salesforce can also integrate with third-party services for real-time credit checks and document verification, further speeding up the process.

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Account management

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Managing customer accounts is another area where Salesforce workflow process automation can significantly impact operations. Traditional account management involves multiple manual tasks, such as updating details, tracking transactions, and managing related requests.

Intelligent process automation in Salesforce ensures accurate and consistent account management by setting up updates and alerts. Also, it helps bank employees access data quickly, improving service quality by providing a centralized view of customer information.

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Customer services

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Automation in customer service reduces response times and improves customer satisfaction, allowing banks to build stronger relationships with their clients. Salesforce can enhance customer service through automation tools like chatbots and knowledge databases. 

Chatbots handle routine inquiries, providing quick responses and freeing staff for complex issues. Knowledge databases can include FAQs, troubleshooting guides, and educational resources, empowering customers to find answers independently, reducing response times, and boosting satisfaction.

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Salesforce business process automation tools for banking

Salesforce offers various tools to automate banking processes, improving efficiency and service quality. Below are some essential tools and their uses in the banking sector.

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Service Process Automation: 

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SPA is a pre-built framework configuring workflows for core banking operations like loan application processing, account opening, and customer service issue resolution. It also provides a drag-and-drop interface, allowing you to design custom workflows visually. 

Use cases: 

• Automating repetitive tasks like data entry, sending notifications, document management, etc. 
• Routing loan applications, account opening requests, and customer service inquiries to the appropriate department. 
• Defines approval steps for complex processes (e.g., loan approvals) and automatically routes tasks for review and sign-off.

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Workflow and Process Builders

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These tools are designed to establish workflow orchestration and automate routine business processes without coding. They allow users to create automated actions based on specific criteria, reducing manual effort.

Use in banking:

• Automating approval processes for loan applications and account updates, ensuring consistency and speed.
• Sending automated notifications and alerts to customers and staff about important account activities or changes.
• Automatically updating records based on specific triggers, such as changes in customer information or transaction patterns.

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OmniStudio

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OmniStudio provides a suite of tools for building guided user experiences and automating complex processes. It includes features like FlexCards (quick access to tasks related to the presented data), OmniScripts (guidance through business processes), Omnistudio Data Mappers (retrieving, transforming and updating data) and Integration Procedures (multiple actions in one service call) for smooth data interaction within and outside of Salesforce.

Examples:

• Creating interactive customer portals for personalized banking experiences and efficient service delivery.
• Automating complex transaction processes, such as cross-border payments or investment portfolio updates.
• Integrating with third-party systems to provide real-time data and analytics for better decision-making.

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Salesforce Financial Services Cloud

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Financial Services Cloud was explicitly created for the financial industry. It provides tools to manage customer relationships and automate processes.

Implementation in banking:

• Improving customer relationship management by automating client onboarding and account management tasks.
• Providing personalized financial advice and offers through automated analysis of customer data.
• Managing compliance requirements by automating regulatory reporting and documentation processes.

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Salesforce Marketing Cloud

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Salesforce Marketing Cloud is a digital marketing automation and analytics tool that helps businesses engage with customers across multiple channels.

Use scenarios:

• Target specific customer segments by automating marketing campaigns to promote new banking products or services.
• Personalizing customer communications based on their behavior and preferences, improving engagement and satisfaction.
• Tracking campaign performance with analytics to refine marketing strategies and optimize return on investment.

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Einstein Analytics & Tableau

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Einstein Analytics and Tableau provide advanced data analytics and visualization capabilities, helping organizations make data-driven decisions.

Use in banking:

• Analyzing customer information to identify patterns and opportunities for cross-selling and upselling financial products.
• Visualizing key performance metrics to monitor the effectiveness of banking operations and strategies.
• Predicting customer behavior using machine learning to improve risk management and customer retention efforts.

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Workflow Rules

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These are workflow orchestration tools that contain a set of actions triggered by changes in Salesforce data. They automate repetitive tasks and ensure data accuracy.

Examples:

• Automate task assignments for the appropriate team members based on changes in customer accounts or transaction details.
• Sending alerts and notifications for critical account activities or security events.
• Updating fields and records automatically to maintain accurate customer information.

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Flow

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Flow is a powerful tool for creating complex, automated processes with a visual interface, handling data collection, processing, and output.

Use cases:

• Business process automation with Salesforce flows for customer onboarding, ensuring a smooth and personalized experience.
• Automating document generation and management for account openings and loan processing.
• Integrating with external systems to synchronize data and simplify banking operations.

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Tips for banking workflow and process automation with Salesforce

Here are some tips to help you successfully implement automation in Salesforce for banking operations:

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Identify processes for automation

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Start by identifying and prioritizing repetitive tasks that can benefit from automation. Focus on processes that consume significant time and resources, such as data entry, customer onboarding, and document management. By targeting these areas, you can achieve quick wins and show the value of automation.

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Don’t try to automate everything at once

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Begin automation with low-risk tasks that clearly impact efficiency and customer experience. This approach allows you to refine your automation strategy and learn from initial implementations before tackling more complex processes.

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Utilize Salesforce pre-built solutions like SPA

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Service Process Automation (SPA) is a digital process automation tool for banking that can simplify core operations like loan processing and customer service. They provide configurable workflows and a user-friendly interface, helping you automate tasks quickly and effectively.

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Gather stakeholders’ input

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Involve stakeholders from different departments to gain insight into their challenges, pain points, and desired functionalities. Gathering input from those who interact with the processes daily will ensure that the process automation settings in Salesforce address real needs and improve overall efficiency.

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Ensure data quality and consistency

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Maintaining data quality and consistency within Salesforce is crucial for successful automation. Keep your data updated to ensure that automated processes function correctly and accurate information is used across all systems.

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Leverage Salesforce security features

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Protect sensitive data using security features such as Salesforce Authenticator and Shield Platform Encryption. Ensure that data access controls are correctly configured, allowing only authorized personnel to access specific information.

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Explore advanced tools

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As your automation needs grow, consider using advanced tools like Process Builder, Flow, and Apex for more complex workflows. They offer greater flexibility and can handle intricate processes, enabling you to create customized solutions that meet your evolving requirements.

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Partner with a Salesforce expert

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Collaborating with a Salesforce expert can significantly enhance your automation efforts. An experienced partner can provide insights, best practices, and technical expertise to help you implement and optimize Salesforce banking solutions effectively.

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Noltic’s experience in automating banking operations with Salesforce

Noltic partnered with the American Bank and successfully automated its marketing operations using Salesforce Marketing Cloud, enabling hyper-personalization and significantly improving customer engagement and satisfaction.

The bank wanted to implement a personalization strategy that used customer data to tailor communications and improve engagement. This approach required extensive automation to manage large volumes of data efficiently. Noltic's expertise in Salesforce allowed the bank to build an advanced marketing system that delivered customized experiences to its B2B clients.

Our team implemented several key solutions to automate the bank's marketing:

• Content Builder improvements that facilitated content creation, making it easier to produce tailored marketing materials.
• By integrating conversion tracking and analytics tools, we enabled the bank to gather detailed customer data, which was used to create targeted marketing messages.
• We developed mobile-friendly landing pages to capture leads effectively, ensuring a smooth user experience across devices.
• Our team designed logic for targeted and triggered emails, allowing the bank to send personalized messages at different customer lifecycle stages.

Through these automation efforts, Noltic helped the bank achieve significant improvements:

• The automated marketing system enabled the bank to deliver highly personalized communications, resulting in a threefold increase in click-to-open and click-through rates.
• Over 50% of new clients were acquired through digital marketing channels, demonstrating the effectiveness of the personalized approach.
• The bank gained more profound insights into customer preferences, allowing for more precise targeting and messaging.

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Conclusion

This article covered how process automation in Salesforce can transform banking operations, focusing on loan processing, account management, and customer service. With pre-built frameworks like Service Process Automation, a comprehensive toolset of Salesforce Financial Services Cloud, and AI instruments, financial organizations can facilitate smooth workflows and eliminate errors by reducing manual tasks.

Our case study illustrates how the American Bank achieved personalized marketing with Salesforce Marketing Cloud, leading to increased engagement and growth.

Noltic’s team includes certified Salesforce architects and developers who have successfully completed more than 110+ projects. Our expertise allows us to develop customized Salesforce solutions focusing on each client's unique needs, optimizing their operations for better performance.

Ready to enhance your banking operations with Salesforce? 

Use the full potential of Salesforce Marketing Cloud with Noltic's expertise.

Contact us today!

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FAQs

Is Salesforce secure for banking operations?

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Salesforce is designed with robust security measures to protect sensitive data, making it suitable for banking operations. It offers data encryption, multi-factor authentication, and access controls that can be customized to allow only authorized personnel to access important information. Additionally, Salesforce complies with various industry standards and regulations, providing a secure platform for financial institutions.

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How can Salesforce integrate with existing banking systems?

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Salesforce offers numerous integration options to connect with existing banking systems. It provides APIs and connectors that enable seamless data exchange between Salesforce and other platforms, such as core banking systems, payment gateways, and third-party applications. This flexibility ensures banks maintain infrastructure while leveraging Salesforce's capabilities to enhance operations.

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How does Salesforce ensure data accuracy for automated workflows?

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Salesforce maintains data accuracy through automation, using pre-defined workflows and validation rules. These tools automatically check data inputs for errors and inconsistencies, ensuring that only accurate information is processed. Additionally, Salesforce can integrate with external systems to verify data in real time, further enhancing accuracy and reliability.

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Is Salesforce scalable for large banks with high transaction volumes?

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Salesforce is very scalable and can meet the requirements of large banks with high transaction volumes. Its cloud-based architecture allows for easy scaling of resources to handle increased demand, ensuring consistent performance. Salesforce's infrastructure is designed to support millions of users and transactions, making it a reliable choice for large financial institutions.

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What security features does Salesforce offer for banking data?

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Salesforce provides comprehensive security features to protect banking data: encryption at rest and in transit, role-based access controls, IP whitelisting, and regular security audits. Salesforce also offers security monitoring and threat detection tools to detect and reduce possible risks, ensuring that banking data remains safe and secure.

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