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Winter ’24 recap: Features for financial services

Oct 17, 2023 | Admin, Financial Services

It’s been a year of shaky confidence from clients with their financial services organizations. Due to the economic downturn and ever-looming fear of recession, customers are demanding more to secure their assets. And financial services are expected to answer the call with the services and processes to mediate customer concerns and fastrack their goals. 

Enter the Winter ‘24 release, a seasonal update from Salesforce sure to impress decision-makers in financial services organizations with its enhancements to financial planning, document management, process automation, and onboarding. Let’s dive in to the details:


Financial Planning and Goals

A huge improvement for Financial Services Cloud is you will no longer be required to install the Financial Services Cloud Managed Package in order to use the Goals object. This feature is now offered with the Financial Services Cloud license. This means users can leverage the Financial Goals FlexCard for fast access to client goals, including priorities and statuses on each goal. Advisors can help clients reach target values more efficiently, and users can view all members associated with a goal, as well as create, edit, or delete guided paths to progress on goals. You can catch a demo of using goals in Financial Services Cloud here. 


Enhancements to Service Process Automation

Two areas of Service Process Automation have been enhanced for financial services in this update: first off is the Service Process Studio in Financial Services Cloud. Users can now select fields on any object to store base data attribute details. You may also use a template for transaction disputes to create a service process definition and handle transaction disputes quickly. 

The second enhanced area is self-service capabilities in the Financial Services Client Portal. Improved features here include the ability for customers to create service requests or schedule appointments on their end of the portal, provide more efficient feedback, and peruse knowledge articles based on set topics. 


Enhancements for Integrated Onboarding

Integrated Onboarding is another major area of enhancement in the Winter ‘24 release for financial services. First, users can access a sample onboarding app to streamline and improve the customer onboarding experience. This includes easily deployable flows, procedures, DataRaptors, OmniScripts, and more for use in the app and easy customization.

Second, the end-to-end document approval lifecycle has been streamlined. Users can validate documents via a Document Checklist Item based on data from the Party Profile (and child objects). Users can then update the status as approved or rejected, add comments, etc. The changes and validation process can be easily tracked for a history of changes to the document.


Document Matrix

The final important improvement for financial services in this update is the Document Matrix element. Found in the Discovery Framework OmniScripts, the Document Matrix simplifies admin workload by automatically determining which documents users will need to upload for submitting assessments. 

To learn more about these updates and how to get the most out of your cloud investment, connect with our team of industry experts today. We’d love to hear from your organization about what’s working well, what processes could be improved, and the tools you’re using to reach the end goal. 



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