Acquire and retain customers with Salesforce

A solution for the cognitive era in banking

The banking and financial services market is one of the most complex industries with horizontal and vertical segmentation, with lending being the most dynamic. Several factors, such as the economic situation, fluctuating interest rate regimes, looming recession, and tough compliance mechanisms, shape the future of mortgage and lending. One trend that is already beginning to take shape is the use of machine learning and artificial intelligence to improve the efficiency and accuracy of the lending process.

However, only 10% of CEOs see their bank as innovation leaders. The three main reasons for that are:

Limited customer visibility

Legacy lead tools and siloed systems cause a lack of visibility and insights into customers

Unorganized integration points

Isolated and non-scalable integration points make it impossible to derive meaningful customer insights.

Low customer satisfaction

Little to no automation, slow-moving process and high rate of departmental interdependencies cause low customer satisfaction and high dropouts

Despite these challenges, banks have an unprecedented opportunity to set themselves apart by powering the right mix of technology accountability and process simplification to create a digital-first customer-centric organization. Additionally, lower interest rates and the growing demand for finances from retail and business customers makes the current market situation ideal for banks to invest in lending technologies to meet the demand, increase revenue and stay competitive to attract new customers. Virtusa, a platinum Salesforce partner and a domain expert in BFS, will help banks to transform complex, slow-moving, document-heavy lending processes into a smoother, transparent, easy-to-track process with 360-degree real-time visibility.

Key features

Virtusa, in partnership with Salesforce, can help you transform your bank, augmenting your lending process to be fast, accurate, and compliant. We help banks accelerate digital transformation while delivering personalized service with a single view across channels, geography, and lines of business, both consumer and commercial making it easy for you to:

  • Lead management/routing/assignment: Faster lead management to reduce orientation, processing, and loan approval timings. 
  • AI model for predictive lead scoring: Higher loan conversion rates for better product diversification and cross-selling
  • Opportunity Management: Forecasting, prequalification, application management, workflow, and opportunity paths to reduce time on loan approval, closure, and burden on agents
  • Loan application site:  Simple and interactive application site to reduce application fall-off rate reduced the burden on agents
  • Customer retail loan data model: Data model designed to reduce technical debts and faster time to market
  • Computer Telephony Integration: Flexibility to adapt to the existing tech stack with easy communication integrations like call or screen pop and click-to-dial
  • Case management (self-service, Email): Increase adoption and optimize performance and accurate adjustment of security controls
  • Event monitoring, audit trail: Complete visibility of the process to assess and gain critical insights from data for faster and more accurate product offerings and contact center modernization. 
  • Channel enablement: Omni channel presence to magnify the marketing funnel and augment customer point of contact. 

Our capability in Salesforce platform

Salesforce Financial Services Cloud

An integrated platform to drive long-lasting client relationships, powered by Financial Services Cloud, for delivering proactive, personalized, and goal-based advice based on a customer-centric business model

Salesforce Sales Engagement

A comprehensive tool to engage customers, incorporating customer 360 data and delivering insights to boost sales, customer engagement, and satisfaction

Salesforce Marketing Cloud

Integrated solutions for customer journey management, omnichannel marketing, content management, and predictive and data analysis to create marketing campaigns based on needs, demographics, and communication 

Salesforce Datorama

Cloud-based Business and marketing intelligence platform to access media data for intelligent marketing insights, brand functionality, and cross-functional ease. 

Salesforce Interaction Studio

Marketing CRM tool for audience segmentation, channel personalization, and machine learning to enable customer engagement and retention

Key benefits

Virtusa helps banks to centralize their lending and mortgage operations by gaining 360-degree customer views, insights, and trends to augment a highly flexible and scalable business model that addresses the changing business landscape to provide: 

Enhance trust and customer retention

Integrated data points and predictive models understand customer needs and preferences to provide personalized services that augment simplicity and transparency.

Customer-centric business model

Highly personalized customer-centric business model by incorporating technology with the core culture and values of the bank for a needs-based approach and deep understanding of the customer financial journey

Digital innovation and digital transformation

Seamless customer experience across multiple devices backed by integrated back-end processes to understand, communicate and serve customers in real time by opening up a two way communication channel across the lending process. 

Personalized relationships with scalable CRM

Scalable solution with 360-degree visibility for nurturing customized customer journeys with speed and agility across products, services, and marketing initiatives. 

Why Virtusa?

Virtusa is a platinum Salesforce partner with deep domain expertise in the banking and financial services vertical. With extensive experience in digital transformation projects, Virtusa helps banks implement powerful Salesforce platforms to scale, augment and transform their business operations. 

Why clients choose us:

  • Extensive domain and digital heritage: Virtusa has over 25 years of deep BFS domain expertise with leading global clients. Our highly acknowledged "Platforming" approach helps us to bring a strong governance framework for businesses of all sizes. 
  • Digital marketplace and multi-tenant solutions: We collaborated with Integration networks for API Exchange with a multi-catalog standardized API definition that helped us develop and implement several multi-tenant solutions for B2C and B2B business models.
  • Hyper-distributed agile model: Designed to create more resilient, effective, and efficient remote engineering teams without sacrificing quality, speed, or agility. 

Success story

Virtusa helped a leading bank to completely transform the branch banking experience into a highly efficient branchless banking experience.

By providing high-quality service based on a proven ASM engineering framework based on the principles of Eliminate – Automate – Simplify and metric-driven approach, we helped the bank to make significant improvements in the Run and Build model to enhance capacity cost and SLAs. The client realized higher operational efficiencies with a robust offshore team enabling seamless CRM activities for a smooth branchless banking experience.

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