Transformation in Financial Services on Salesforce post Dreamforce and Beyond..

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Jan Zycki

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Director – Solutions at Arxxus Technology Partners

As someone who has worked with Salesforce in Financial Services for over a decade it’s very exciting for me to see this vertical now be so key to Salesforce and it’s partners.

At Dreamforce last month I was really excited by how developed and core the Salesforce offering now is for financial services around the world. Once it may have been used simply for running sales operations for one specific area with a custom build (usually coded) for industry specific processes. Now it is a core system enabling digital transformation in rapidly changing landscapes globally with many of the needs of FS clients out of the box.

I attended a session with Barclays Investment Banking and Global Markets and Tier1. Partners are a key part of the Salesforce Financial Service strategy and it was great to see Tier1 showcasing their vision.

Another partner blazing a trail is nCino with their Bank Operating System built out natively on the Salesforce Platform and now core to the Financial Services Cloud for Retail Banking. The nCino platform truly revolutionises how lenders at all levels can scale up without the investment required for traditional loan origination technology. Being built on the Salesforce platform also enables smaller regional lenders to extend their reach beyond their traditional geographic boundaries through digital engagement.

At Arxxus we are also proud of our AppExchange solution Platform Insights providing consolidated analytics of Master funds, Super funds and Wrap data on the Salesforce platform for many Australian financial services companies.

Back home in Sydney last week Salesforce held a Financial Services breakfast, again a watershed moment for the place of Financial Services as a true vertical focus. Stuart Ward, Director, Industry Strategy – Financial Services highlighted the upcoming Royal Commission and other reviews that will lead to dramatic changes across the industry. Smaller players are already entering the market offering alternatives and this will increase with customers gaining greater control over their banking data.

Financial services organisations will need to adapt to this new landscape and counter perceived lack of trust in society which will be fueled by the Royal Commission. Focus on corporate memory was a key theme from Stuart, knowing who I am and what I need throughout my life-cycle journey leveraging predictive analytics. Underpinning this will be good governance and technology.

At Dreamforce I was also really excited about a couple of announcements. With myLightning banks, advisers and brokers have the ability to rapidly develop branded UIs and apps. This will deliver a greater user/client experience significantly quicker and at a lower cost than ever before. The launch of myTrailHead is of great interest to organisations looking for better ways to train their staff and keep them compliant in a highly regulated and changing environment. Trailhead has already proved transformational in the Salesforce world. The ability to use that in your own organisation where people can work in and train on the same platform delivers greater context, ROI and connection to compliance and operational initiatives.

In short I think 2018 is shaping up to be a year of challenges but of course great opportunities across Financial Services in Australia and beyond. Salesforce as a platform is a foundation to keeping your business agile and responsive to the changing landscape. I would love to chat to you about how Arxxus can be your innovation-led transformation partner on this exciting and continuing journey.

Director – Solutions at Arxxus Technology Partners

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