Project Name
How a Leading Bank Achieved 40% Faster Onboarding with Salesforce Financial Services Cloud
A prominent financial services firm, trusted by individuals, corporations, and institutions for investment solutions, faced growing challenges as its client base expanded. Manual processes, siloed systems, and inefficient risk checks were slowing down onboarding and impacting customer experience.
Ksolves partnered with the client to modernize onboarding, compliance, and customer engagement through Salesforce Financial Services Cloud, MuleSoft, and seamless integrations with critical banking systems.
Here are the key challenges addressed by us:
- Fragmented Onboarding Process: The bank’s onboarding relied heavily on manual data entry and paper-based forms. This led to inconsistent data, costly errors, and long wait times for new clients to activate their accounts.
- Inefficient Risk Evaluation: Risk assessments and AML/KYC validations were largely manual and reactive, making it difficult to keep up with compliance requirements and leaving the bank exposed to potential fraud and regulatory penalties.
- Disconnected, Siloed Systems: Customer, sales, and support teams worked in silos with limited data visibility. Multiple legacy systems lacked real-time integration, slowing down information sharing and causing duplication of effort.
- Approval Bottleneck: Without automated workflows, approvals for account openings and investment activities often got stuck in multiple review loops, frustrating customers and internal teams alike.
- Compliance Pressure: As regulatory requirements tightened, the bank’s existing anti-money laundering and know-your-customer processes struggled to keep pace, increasing the risk of compliance breaches.
- Limited Mobile Access: Clients expected seamless digital experiences but were met with limited self-service and cumbersome mobile interactions, leading to dissatisfaction and missed opportunities for engagement.
The integrated solutions not only streamlined operations but also empowered the client to deliver smarter, faster, and more secure financial services.
- End-to-End Salesforce Integration: Ksolves unified onboarding, sales, service, and compliance processes by implementing Salesforce Financial Services Cloud and integrating core systems with MuleSoft. This created a single source of truth and improved operational efficiency.
- AI-Driven Risk & Compliance Automation: The team deployed AI-powered risk assessment tools to proactively flag high-risk accounts and transactions, while automated AML/KYC workflows ensured continuous compliance with evolving regulations.
- 360° Customer View for Personalization: Salesforce’s Customer 360 capabilities enabled real-time insights into each client’s financial profile, helping advisors personalize interactions, strengthen trust, and deliver proactive recommendations.
- Enhanced Mobile-First Banking Experience: With secure mobile onboarding and transaction capabilities, customers could open accounts, verify information, and manage investments on the go, all while enjoying a frictionless digital experience.
- Seamless Core Banking Integration: Using MuleSoft, the bank connected Salesforce with systems like BNY Mellon Pershing, ACH, and Ria. This ensured smooth fund transfers, real-time settlements, and accurate reporting across multiple platforms.
- Streamlined Approvals & Automated Workflows: By automating approval chains and repetitive tasks, the solution minimized human error, eliminated backlogs, and sped up account activation. This boosts customer satisfaction and operational productivity.
The transformation empowered the organization to operate with greater agility, reduce risk exposure, and elevate customer experiences across every touchpoint.
- 40% Faster Onboarding: Automated workflows eliminated repetitive manual data entry, significantly speeding up client onboarding while ensuring accuracy and compliance at every step.
- Stronger Compliance: AI-powered risk checks, real-time monitoring, and automated AML/KYC validations improved fraud detection and ensured complete compliance with evolving regulatory requirements.
- 30% Reduction in Operational Costs: By streamlining onboarding, risk assessments, and approvals, the bank reduced its dependence on manual tasks and legacy systems, driving down costs and freeing up resources for growth.
- Enhanced Mobile Banking Experience: A secure, mobile-first onboarding journey allowed customers to open accounts, verify details, and manage investments from anywhere, resulting in a 50% increase in self-service adoption.
- Seamless Multi-System Transactions: Integrated core banking platforms with BNY Mellon Pershing, ACH, and Ria provided customers with smooth, real-time fund transfers and settlements, improving trust and satisfaction.
- Proactive, Personalized Engagement: Advisors gained a unified 360° view of each client’s portfolio, supported by AI-driven insights to offer tailored recommendations that strengthen relationships and drive loyalty.
- Faster Support & Better Retention: With automated routing and complete customer data at their fingertips, support teams reduced resolution times by 60%, delivering a smoother client experience that boosted retention rates.
By partnering with Ksolves, this leading bank successfully transformed its outdated, manual onboarding processes into a modern, AI-powered experience using Salesforce Financial Services Cloud and MuleSoft. The result? Faster onboarding, stronger compliance, lower operational costs, and happier clients enjoying seamless, mobile-first banking services. This success story highlights how forward-thinking financial institutions can future-proof operations, stay ahead of regulations, and deliver exceptional customer experiences.
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