How Salesforce Einstein Works for FinTech

AI is taking over the world and this reality is not hidden from anyone.

 

This means we have to change the way we do business. We need to deploy AI-driven solutions. Keeping this in view Salesforce is way ahead in the game of AI.

 

“The reality is every company will undergo an AI transformation to increase productivity, drive efficiency, and deliver incredible customer and employee experiences.”

– Marc Benioff, Chair and CEO, Salesforce

Salesforce Einstein

Salesforce Einstein is AI technology built by Salesforce that is available for the entire suite of Salesforce products. 

 

Just like with other AI services and solutions, Salesforce Einstein makes the job easier. It automates replies, makes predictions, and streamlines business processes. This tool is made by combining a plethora of AI technologies. These include machine learning, NLP (Natural Language Processing), predictive analysis, and image recognition.

 

Salesforce Einstein can be used in marketing, sales, service, and commerce.

Features

Salesforce Einstein comes with a number of features. These include the following:

i. Call Summaries

Eomstein generates summaries of calls with customers. This includes highlighting key points and analyzing customer behavior. Just imagine having a computer program do all of that for you. Sounds enticing!

 ii. Lead and Opportunity Scoring

Salesforce Einstein analysis leads and ranks them. The ranking tells us about the strength of the lead and ensures a better conversion rate.

 iii. Messaging and Marketing Insights

This program provides the right information and analysis on how successful is a marketing campaign. The information includes metrics such as click-through rate, conversion rate, etc.

 iv. Data Protection

The architecture of Salesforce Einstein has an Einstein Trust Layer. This means all the customer data is protected.

 v. Einstein Bots

Making use of NLP-based technologies, these bots can provide personalized guidance to customers. This messaging occurs in a more natural way as compared to computer-generated responses. As a result, customers who otherwise get ticked off by robotic answers stay engaged.

Benefits for FinTech

Salesforce Einstein will definitely benefit whatever industry it serves. Here we will look at some of the ways FinTech (Financial technology) companies can benefit from it.

- Better Customer Interactions

Having customer behavior at your fingertips allows you to better interact and deal with customers. Since Einstein is adept at analyzing customer behavior and giving insights, it definitely improves customer interactions.

- Data Analysis

Dealing with data is a painstaking task. Having AI to do that for you is a Godsend. For example, an insurance company can analyze its base of customers and find key behaviors with the help of Salesforce Einstein. This will help them tailor their customer services to their loyal customers.

- Deal Closure

When leads are being analyzed properly, there is an increased chance of deal closure hence boosting sales. Whether it is a lending service or a bank, any FinTech company will appreciate the classification of leads.

- Safety of Customer’s Data

Security of customer data is extremely important when it comes to the FinTech industry. No one wants their financial history leaked. Hence the Einstein security layer is extremely helpful for all FinTech products.

- Optimal Use of Human Resources

When AI takes on tasks such as analyzing data and making predictions, humans can focus on more important tasks such as direct interaction with customers and closing deals.

Conclusion

To wrap it all up, salesforce Einstein is important for all businesses but its features make it especially useful for the FinTech industry. Fintech organizations can use Einstein to save time, make data-driven decisions, secure customers’ information, and improve customer interactions.