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Financial Service Cloud- Release Readiness LIVE, Winter ’21

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A few years back, Salesforce launched Financial Services Cloud for big-time wealth management ventures. Individuals who interact with clients such as advisors, bankers, and management ventures leverage the Financial Cloud to deliver proactive services to match their expectations.

The Financial Service Cloud is an extension of the Salesforce platform that leverages various features that aim to personify clients’ relationships while enabling users to have a 360-degree view of the organization’s financial health. It helps in building more profitable relationships by assisting in accelerating user productivity with technology.

Salesforce Financial Services is a one-stop solution catering to all the sub-verticals in the industry, such as insurance, commercial banking, wealth management, mortgage and lending, and retail and premier banking.

Let’s now explore the benefits of the Salesforce Financial Services Cloud.

  • Full quadrant view of the customer
  • Improvise sales and cross-sell
  • Help builds better client relationships
  • Enhanced team collaboration
  • Smarter and faster client decision
  • Promote advisor productivity

Salesforce financial cloud has a unique data model with consistent onboarding tasks to ensure effective client relationships and communication. Financial Service cloud is available in various editions such as Professional, Enterprise, and Unlimited.

With every release, the Financial Service Cloud undergoes some updations and adds tons of advanced functionalities that help enhance business growth. The Salesforce Winter ‘21 release gives many reasons to leverage the Financial Services Cloud to its full potential. However, this release is mainly focused on the Mortgage and Insurance part of the Financial Services Cloud.

Let’s know what updations Financial Service Cloud brings with the Winter ’21 release:-

1. Configurations to Financial Service Client Portal: With the Winter ’21 release, the Financial service cloud offers a self-guided loan application which could be quickly done by configuring the financial services client portal. It helps users start a new loan application on their own and follow a hassle-free approach. Users can now enable prebuilt components to create a loan application along with browsing knowledgeable base articles. It also displays application summaries and can launch a self-service flow to request help.

2. Data Sharing Compliance: With the latest update to the Financial Service Cloud, data sharing is more efficient and secure. The new feature allows specific users to control access to accounts or records for users without writing complex code when enabled. You can now approve the participants before sharing any confidential data with them. Admins can define and share default access to either read or edit records. Moreover, you can also manage roles and participants in the context of their parent records.

3. Client Data and Relationships (ARC): In Financial Services, it is essential to stay in touch with the clients. The Actionable Relationship Centre displays a hierarchical view which helps understand the customer’s complete network at a glance without having to navigate away from the page. It brings another level of interaction with records by allowing users to click and expand the relationship map. The upgrade also allows you to edit and launch actions right from the ARC context rather than on each record individually and modifying.

4. Print Insurance Record details with the printable view: You can now use the Printable View button on Insurance record details to generate a minimalist view of printing. Imply by selecting the Printable view from the list or record detail. The new options on the policy component give you better control over the information and efficiently manage external users’ access to insurance records and printing functionalities.

5. FSC Components on the mobile: The FSC has officially gone mobile with several new iOS and Android components. Salesforce mobile users can now access the features that they need to stay productive while being away from their desks. You can enable pages for the phone form factor for making them appear on mobile devices. The few components that are now mobile-enabled are an action plan, assets & liabilities, bank account, client record detail, financial account role, goal, summary, insurance policies, accounts, and related contacts. 


The lightning-powered Financial Services Cloud is an integrated platform that combines the power of CRM and wealth management tools to support wealth management, retail banking, commercial banking, and insurance markets. The new updates in the winter ’21  are designed to increase productivity using collaboration tools and engagement cards as well as personalize client relationships and make smarter business decisions using analytics.

Want to reap the optimum advantages of the Salesforce Financial Services Cloud for increasing your business efficiency? Get in touch with Cloud Analogy now to access the best of Salesforce Finance Cloud Implementation Services and see how our Salesforce Financial service cloud experts can help your organization realize the benefits of Salesforce Financial Services Cloud.


Nitish Bhardwaj

Salesforce Principal Consultant | Chief Information Officer
An experienced professional with 5+ years of experience in consulting on and delivering Salesforce projects for mid size, large and very large customers.

Hire the best Salesforce Implementation Partner. Choose certified Salesforce Implementation Experts from Cloud Analogy now.

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