News : Salesforce Launches Shield for Financial Services Cloud
San Francisco, CA, USA, July 25, 2016 -- Salesforce (NYSE: CRM), a Customer Success Platform and CRM company, introduced Shield for Financial Services Cloud. The new solution can be used to assist financial advisors, retirement plan providers and insurance agents in complying with existing and emerging industry regulations such as the U.S. Department of Labor’s (DOL) Fiduciary Rule. Salesforce partners, including Deloitte, will extend the reach of the offering with integration support, training and other expertise.
Regulatory changes in the financial services industry are pushing financial professionals to be more transparent in the way they manage their clients’ investments. Recently, the DOL released its fiduciary rule, which requires fiduciaries, such as financial advisors and insurance agents, to make investment recommendations in the best interests of their clients. And with 43% of U.S. investors stating they don’t understand the methods by which their advisors make investment recommendations, the pressure is on for firms to educate and communicate with their clients in more modern ways, while meeting these new regulatory requirements.
Salesforce Shield for Financial Services Cloud Addresses New Regulations
Combined with capabilities of the Financial Services Cloud, Salesforce Shield gives firms the ability to capture client interactions and provide their compliance departments with visibility into communications between clients, advisors, agents and teams.
"At Salesforce, our business is based on helping companies connect with their customers in entirely new ways, including helping advisors to act in the best interest of their clients," said Rohit Mahna, GM of Financial Services, Salesforce. "The opportunity has never been greater for financial services firms to transform and engage with clients in a deeper way."
Posted by Veronica Silva Cusi, news correspondent
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Published: Wednesday, July 27, 2016
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