Salesforce Announces Einstein Analytics for Financial Services - AI-powered Insights for Wealth Advisors, Managers and Retail Bankers

SAN FRANCISCO, May 7, 2019 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced Einstein Analytics for Financial Services, a customizable analytics solution that provides AI-augmented business intelligence for wealth advisors, retail bankers and managers.

Banks and wealth management institutions are facing a rapidly changing industry landscape, as new fintech entrants and consumer technologies are simplifying how people save and invest their money. Customers now expect the majority of their financial transactions to be digital but are also demanding smart, high-touch experiences with their advisors when needed. Bankers and wealth managers must deliver modern experiences that are smart, personalized and fast to differentiate their services. Banks have always understood the importance of building best-in-class customer relationships, but often struggle to manually stitch together and correlate all of their customer data from various systems to deliver them at scale. Bankers and wealth managers need to be empowered with immediate, intelligent recommendations to meet customers' growing expectations for speed and personalization.

Introducing Einstein Analytics for Financial Services
Salesforce Financial Services Cloud delivers a customized CRM experience for financial institutions. Now, with the addition of Einstein Analytics for Financial Services, retail bankers and wealth managers have access to AI-powered insights and recommendations specifically tailored to their role and their customers. By bringing together data from Financial Services Cloud and other data sources, users can instantly surface actionable insights to grow their books of business and deepen client relationships.

Einstein Analytics for Financial Services includes:

    --  Actionable insights powered by AI: Financial services professionals now
        have predictive guidance and recommended actions built directly into
        day-to-day client engagement. For example, financial advisors can now
        receive updates on which clients are most likely to increase their
        assets under management or churn, helping them focus their energies on
        client retention and growth in the smartest way.
    --  Built-in industry dashboards: Pre-built industry-specific
        templates--such as client financial goals and interactions, referrals,
        deposits and fees--enable front-line wealth advisors and retail bankers
        to begin using analytics immediately. They are no longer forced to wait
        on IT departments or data scientists for daily insights and decision
        guidance around the most common KPIs. For example, a wealth advisor can
        instantly access dashboards that provide insights from her entire client
        list, identify the ones who aren't meeting their financial goals and
        then create a task to reach out to them directly.
    --  Customizable platform to analyze external data: Users can quickly and
        easily build custom analytics apps, and connect to external data sources
        to get a full view of their book of business to better understand their
        customers' financial goals and needs. For example, users can bring in
        external data on loan payments and credit card balances, as well as
        customer satisfaction to provide proactive and personalized advice and
        services.
    --  Built-in compliance with industry regulations: Einstein Analytics for
        Financial Services ensures that all data is hosted in a trusted, secure
        and compliant cloud-based platform. This includes all of the security,
        privacy, auditing and reporting tools consistently configured and
        leveraged to meet compliance requirements.

Elements Financial is leveraging Einstein Analytics to better understand their customers

    --  Elements Financial, a credit union specializing in the financial
        wellness of its members, utilizes Einstein Analytics to better
        understand members' financial goals and interactions. By embedding
        Einstein Analytics on account home pages, tellers and management teams
        quickly have insights into members and money flow, allowing customized
        offerings and stronger relationships.

Comments on the news

    --  "Artificial intelligence is the modern day gold rush of the financial
        services industry, and those that get in early will reap the rewards of
        this next wave of innovation," said Rohit Mahna, SVP and GM, Salesforce
        Financial Services.
    --  "We're bringing artificial intelligence to customer interactions and
        building products that speak the language of the financial services
        industry. They're getting a tailored approach to analytics with the
        agility of our powerful platform," said Ketan Karkhanis, SVP and GM,
        Salesforce Einstein Analytics.
    --  "Industry sentiment towards advanced and predictive analytics is at an
        all-time high, and deployments of public cloud BI applications are
        increasing, with organizations citing substantial benefits versus
        traditional on-premises implementations," said Howard Dresner, founder
        and chief research officer at Dresner Advisory Services. "We see demand
        for both continuing to grow."
    --  "Our work with Salesforce has allowed our credit union to build a data
        culture where stronger and more accurate knowledge leads to serving our
        membership with customization," said Lisa Schlehuber, CEO of Elements
        Financial. "We are proud of the high-tech and high-touch level of
        service that makes Elements unique and leads to lifelong relationships
        with members."

Availability and Pricing
Einstein Analytics for Financial Services is generally available and priced at $150 per user per month as an add-on to Financial Services Cloud.

Connect with Salesforce

    --  For more information on Salesforce Financial Services Cloud, visit:
        http://www.salesforce.com/financialservicescloud
    --  For more information on Salesforce Einstein Analytics, visit:
        https://www.salesforce.com/products/einstein-analytics/overview/
    --  Like Salesforce on Facebook http://facebook.com/salesforce
    --  Follow @salesforce on Twitter

ABOUT SALESFORCE
Salesforce, the global CRM leader, empowers companies to connect with their customers in a whole new way. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

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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SOURCE Salesforce