Salesforce implementation for a leading regional and commercial bank

Challenge

In an increasingly competitive and technologically-driven financial landscape, regional banks are under immense pressure to stay ahead of the curve. This case study examines the digital transformation journey of a leading regional and commercial bank, which sought to address inefficiencies and improve customer satisfaction by partnering with Marlabs, a leader in digital transformation.

The bank in question offers a broad range of services, including commercial and retail banking, as well as wealth management. However, it faced several challenges due to fragmented and outdated IT infrastructure. For example, the bank utilized a custom application for managing referrals alongside other applications such as Salesforce, Core Banking (FIS), Marketo, and Web Banking. However, the custom referrals application was inflexible and provided a subpar user experience.

Salesforce was employed by various teams within the bank, including business development, commercial, wealth management, and treasury. However, the retail division did not use Salesforce, leaving a significant gap in the bank’s operations. These inefficiencies increased costs and hindered the bank’s ability to scale and compete in the marketplace.

Solution

To address these challenges, the bank engaged Marlabs, a digital transformation specialist. Marlabs focused on leveraging Salesforce and its integrations with the bank’s existing applications to improve efficiency and streamline processes.

Key Salesforce Enhancements:

• Referral Management: Marlabs developed new functionality within Salesforce to handle referral management, enabling the bank to retire the inflexible custom referrals application.
• GDPR Compliance: Salesforce Shield was implemented to ensure compliance with GDPR through platform encryption.
• Seamless Integration: Marlabs strengthened the integrations between Salesforce and other applications used by the bank, such as FIS, Marketo, and Web Banking.
• Retail Business Integration: Salesforce was integrated with the Retail division, enabling the conversion of referrals into leads and introducing tracking of branch-level goals.
• Enhanced Error and Exception Handling: Marlabs improved error and exception handling within Salesforce, ensuring a more robust and reliable system.
• 360-Degree Customer View: Salesforce now provides a comprehensive view of customers and prospects, incorporating data from Marketo, Web Banking, and FIS.

Results

This case study highlights the power of digital transformation in the banking sector and the critical role that a partner like Marlabs can play in enabling such transformation. By focusing on the Salesforce platform, Marlabs was able to address the bank’s challenges, create efficiencies, and improve customer satisfaction, ultimately positioning the bank for future growth and success.

Impact

The digital transformation driven by Marlabs’ Salesforce implementation had several significant outcomes for the bank:

• Lead and Referral Management: The bank can now seamlessly capture and track leads and referrals, making it easier to measure progress against targets.
• End-to-End Customer Journey: The integration of Salesforce across the bank’s operations has transformed the customer journey, providing a more seamless and integrated experience for customers.
• Improved CSAT Rating: The enhancements to Salesforce have resulted in significant gains in customer satisfaction ratings, reflecting a more positive experience for bank customers.
• Scalability: The bank’s streamlined processes and more efficient IT infrastructure have set the foundation for future growth and improved competitiveness in the marketplace.