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The benefits of Salesforce for Fintech Companies

Updated: Nov 15, 2021

The landscape of FinTech is changing at a lightning speed. With each passing day, we are encountering a radical change in the FinTech industry. These transformations are important as they impact everything related to payments, money, and banking. However, navigating such an industry can be difficult and finding loyal clients even harder. Globally there is an increasing number of companies in the fintech sector that are implementing Salesforce as their core system to provide exceptional customer experiences and continuous disruption to the market. Over the last years, we have worked with a number of fintech startups and scaleups and in this article, we'd like to give you an overview of why those companies chose Salesforce.

Credit: Austin Distel

Customer-centric Business Model

Fintech companies have emerged as key challengers to traditional banks and other large organisations. The core theme of this disruption was the customer and their below-average experience with the existing, most of the time obsolete or slow, services of the traditional institutions.

With the help of Salesforce, Fintech companies gain a valuable partner on their disruption journey to success. Using tools designed to provide a better customer experience, intelligent marketing sales and customer service solutions, fintech companies can gain a better understanding of their customers along their entire journey from prospects to brand ambassadors.

Salesforce equips businesses with the tools to identify their customer's specific requirements so they can provide them with financial solutions when needed the most. By establishing a more holistic, 360 customer-centric approach, Fintech companies are likely to attract more loyal customers.

Improved Engagement with Customers

It is a considerable challenge to win the attention of quality prospects and maintain their focus as customers. This poses a challenge to the hardworking fintech marketers who compete for this attention in the midst of a rising number of emerging companies. Ambitious fintech companies use Salesforce to leverage marketing automation and segmentation to deliver the right message to the right customers at the right time.

In order to win and keep customers, Salesforce equips fintech companies to increase productivity and efficiency when it comes to closing new customers and providing quality service to them at a faster rate than their competitors. With the 360 customer platform, Fintech firms are able to supercharge their business practices whether it be providing the right financial products, responding to customer queries or managing a customer onboarding process that is quick, easy and in most cases, real-time.

Boosted Sales and Lead Conversions

Salesforce enables financial services and fintech companies to grow faster by focusing on the customer and their essential needs. With automation, workflows or lead nurturing programs, sales reps can focus on closing the right customers or following up with the right qualified leads to drive new business, while customer service teams can prioritise work based on the most important clients and their pressing needs. Salesforce becomes the centrepiece of the collaboration between the different teams and departments, which is very convenient for fast-growing startups and dynamic environments, where every customer is essential to achieving growth and sustainability for the business. Due to the accessibility of the latest technology and improvements in processes and workflows, departments can be streamlined, giving Fintech businesses a significant profit boost while reducing expenditure.

Streamline Operations and Reduce Risk

Challenges for any Rising Stars and ambitious entrepreneurs in the fintech ecosystem are regulatory rules, compliance, cybersecurity and much more. These challenges, along with inconsistent operational processes, KYCs or AMLs, can significantly impact the success and growth rate of a young firm if performed incorrectly. Hence, setting up transparent business processes and traceable company-wide activities at the foundational stage of a start-up is crucial for faster growth and long-term success.

Salesforce has been the trusted partner for plenty of financial services firms including some of the top banks and insurance companies, as well as fast-growing startups in the fintech sector. Salesforce has made all compliance documentation and uptime readily available on, making it a trustworthy and transparent partner for this highly regulated industry. Necessary tools integrated with streamlined processes can prevent problems related to data and can maintain them while keeping them secure. This way, Fintech companies can avoid operational risk, data breaches and mistakes that can lead to a poor brand image.

Single Source of Truth for the Entire Company

Fintech companies and startups, in general, often acquire technology without any major solution architecture in mind which leads to the accumulation of huge technical debt (ie. applications and solutions that were good for a specific purpose, but in combination with others they became counterproductive). This can be due to the high turnaround of leaders or the ever-changing focus of the business. These approaches often lead to data silos and a dangerous lack of visibility into business operations causing integration and maintenance challenges, slowness, and essentially unhappy customers.

Salesforce is a pivotal tool that is widely used throughout the Fintech community and is built to scale and support growth, enabling connections to any API enabled solution. It is also easily customisable, fast to set up for new business functions and offers a huge network of Appstore partners that can be quickly introduced to your Salesforce environment. As your business adapts, Salesforce will enable you to stay at the forefront of innovation and adopt a customer-first approach.

Solutions for fast-growing and ambitious fintech startups

Namíru Solutions is a Salesforce expert and business growth partner to fintech startups and investment firms in Europe and Asia. With more than 7 years of consulting experience and a 100% focus on Salesforce, our trusted advisors are able to listen to your specific requirements, recommend the best practices in the investment industry for your CRM, as well as deliver sustainable solutions that will accelerate your fundraising in a whole new way. If you'd like to learn more, please contact us here.

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