Salesforce reveals Einstein Analytics for the financial services industry

Cloud giant is extending the reach of its data driven insights powered by AI to wealth advisors, managers and retail bankers. Salesforce has confirmed that Einstein Analytics for financial services is now usually available, in a move made to help those in the market make better use of data based on artificial intelligence. A new solution, that is extremely customisable, works as an add-on to Financial Services Cloud and costs $150 per user, per month, in accordance with the cloud firm. It’s especially suited to wealth advisors, retail bankers and managers in the sector as it permits them to easily and quickly access customized, data driven insights about clients to deliver an enhanced and a lot more personalised client experience.

This speed, ease-of use and enhanced levels of intelligence – it’ll extract data from financial services cloud along with other data sources – and sophistication thanks to the use of AI will allow those in the market to try and keep pace with new market entrants, like fintech, and a fast evolving wider sector landscape. AI is the present day the gold rush of the financial services sector, and those which get in early will reap the rewards of this next wave of innovation, said Rohit Mahna, senior VP and General Manager of Salesforce Financial Services. Ketan Karkhanis, senior VP and Managing Director of Salesforce Einstein Analytics, added: We are bring intelligence to every client interaction and the creation of products that speak the language of financial services industry.

They are getting a tailored approach to analytics with the agility of our strong platform.
Einstein Analytics for Financial Services has a number of core components including:
– AI powered actionable insights, that provide financial services professionals a predictive guidance on several elements including ways by which to boost client retention.
– Industry dashboards as standard, which templates that a fit for purpose and assist with data gathering on clients financial goals and activities to better identify key opportunities.
– A way to better analyze data from external sources, thus providing a hollistic view of client requirements and needs.
– Industry regulation compliance by default because all data is hosted in a reliable, secure and compliant cloud based platform with robust auditing, privacy, reporting and security tools built-in.

Numerous financial institutions, including credit union Elements Financial and Royal Bank of Canada are already making use of the analytical extension. The former is embedding Einstein Analytics in its account home pagers to provide more timely information about members and money flow, while Royal Bank of Canada is using it to better serve its 16 million plus clients. 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 customisation, added by Lisa Schlehuber, CEO of Elements Financial. We’re proud of the high technology and a high touch level of service that makes Elements distinctive and leads to lifelong relationships with members.

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