How Salesforce Leverages Continued Growth in FinTech Companies


India’s financial services industry is growing rapidly. With the rise of fintech companies from the periphery to the mainstream, this is bringing about a welcome change in the way that dozens of Indians pay, bank, borrow, invest and insure.

Last year India’s fintech market was valued at $ 50-60 billion, with an expectation of $ 150-160 billion by 2025 (BCG and FICCI). It appears that COVID-19 has only accelerated demand for fintech, as the number of customers adopting digital banking, contactless payments, virtual cards and other fintech innovations has grown exponentially. So, to capitalize on this incredible growth potential, fintech companies need platforms and technologies that turn into a catalyst for them to deliver personalized, intelligent and connected customer experiences at scale.

Salesforce is the perfect example of a catalyst where it can help achieve these goals and more. Through its market-leading CRM platform, users can gain a 360-degree view of their customers, personalize their experiences, automate CRM processes, all while using powerful self-service tools to improve efficiency.

Digital penetration in the fintech sector

Currently, over 80% of the Indian population has a bank account, while 48% of these accounts remain inactive. So, to sum up, a significant proportion of Indians are still financially excluded.

However, on the contrary, digital penetration in India is also increasing rapidly. At present, India has over half a billion active internet users and over one billion mobile subscribers. This gives fintech companies an edge in reaching underserved customers.

But, the process is as simple as it sounds, with the inclusion of several challenges. The main ones are to build customer confidence in digital finance solutions, especially in parts of the country where cash is still king. In addition, it sometimes becomes difficult to reach cities of level III and beyond. The hardest part is still building trust when data security concerns increase.

So, in an industry like fintech that deals with such sensitive information, customers and regulators want to be assured that security and privacy practices are of the highest quality.

Additionally, fintech companies are not only competing with each other or even larger incumbents, but also facing fintech companies like Google, Amazon, and Apple. Succeeding in this playing field is not only about acquiring new customers, but also largely retaining them. However, by incorporating the right technology, FinTech companies can do both, making customer acquisition processes more focused and profitable, while also personalizing service to keep customers happy and loyal.

But, even after facing a plethora of challenges, the demand for contactless payments, digital banking and other fintech solutions continues to rise, and fintech companies are forced to step up innovation as they go. diversifying into new product segments.

Salesforce, with its innovative solutions, is the ideal platform for fintech companies to reach their full potential.

Salesforce Customer 360 for Fintech

Salesforce Customer 360 is a digitally-focused, all-in-one platform that enables financial technology companies from their operating system to thrive in this fully digital, working world from anywhere. The Customer 360 platform helps loan companies manage their loan lifecycle, from digital loan application management to decision making and credit approvals, including insurance companies to bring their core business processes to life. insurance and policy lifecycles in the cloud.

By digging deeper into the specifics, powerful AI-powered analytics help unlock deep insights that accelerate business growth. Automated workflows and self-service tools improve productivity and customer experience, while real-time personalization across websites and apps helps deliver relevant recommendations and the next best actions or deals for them. customers or prospects, on a large scale and in the moment. Finally, a robust API engine makes it possible to connect and exchange information with partners and third parties. Salesforce grows with the fintech business, giving you the scale and agility you need to be successful.

“We take care of all your marketing, sales, service, analytics and customer engagement needs, so you can focus on what you do best: building digital finance solutions that Customers love it, ”says Arundhati Bhattacharya, CEO and President of Salesforce India. .

Salesforce Helps Engage With Merchants and Consumers Smarter

Salesforce also helps streamline merchant and customer onboarding, while providing field service representatives with all the resources and tools they need to optimize PoS device installations and repairs. Powerful insights and analytics deliver a real-time business picture at a glance while helping to make informed decisions that drive growth.

Why Salesforce?

Salesforce works as a tremendous catalyst for financial technology companies. Here’s a look at why many fintech companies around the world continue to choose Salesforce.

  • Quick time to market– Complete projects in months, not years.
  • Easy customization– Configure processes quickly with clicks, not code.
  • Start small– Find entry-level products for the pre-launch startup.
  • Complete vision– Manage every customer interaction from a single platform.
  • Rrecognized innovator– Collaborate with a leading global innovator
  • Continuous evolution– Enjoy seamless innovations and upgrades with three releases per year
  • Customer success– Amplify success by collaborating with a growing community of pioneers and fintech partners.
  • Leading cloud market– Browse over 8,000 applications to find a solution to almost any business challenge.

Salesforce has successfully launched the FinTech revolution in India and can rightly be called a revolutionary for financial services in India. It is the global leader in CRM, enabling businesses of all sizes and in all industries to digitally transform and create a 360 ° view of their customers.

To learn more about Salesforce services, here’s a step-by-step guide.


Comments are closed.