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Financial Services Cloud
Built on the world’s #1 CRM platform, Financial Services Cloud enables financial services institutions to build trust by unifying the customer experience across channels, geographies, and lines of business—both commercial and consumer. Purpose-built industry functionality and the capabilities of Sales Cloud and Service Cloud enable financial services firms to increase employee productivity, accelerate time to value, and deepen customer trust with every interaction.
Financial Services Cloud provides your users with the tools that let them focus on high-value customer activities instead of routine, administrative tasks. As an admin, you get the trusted power, security, and scalability of the Salesforce platform—tailored to streamline implementation for financial institutions. Start with a Financial Services Cloud trial org. Connect data from your banking, portfolio management, financial planning, and other systems. And then configure the app to suit how your users like to work.
Implementation Options
The default and recommended approach for implementing Financial Services Cloud is directly within the core Salesforce platform. Most of the features you need for your org are available without a managed package. This simplifies implementation and provides a more streamlined user experience.
If your use case requires features that are only available with a managed package, such as a dependency on an Independent Software Vendor (ISV) solution, you can find the instructions in our Managed Package Installation Guide.
Financial Services Cloud Managed Package and Standard Features
Financial Services Cloud at launch delivered features by using the managed package. However, starting in 2019, all features are delivered on the standard platform. Currently, the majority of the Financial Services Cloud features are available on the standard platform and don’t require the managed package to be installed.
A managed package is an installable collection of metadata designed to enhance your current Salesforce org. To add more value for customers, Salesforce periodically pushes updates to the package. This method makes sure that feature enhancements are delivered only to the customers who require them.
Here are a few limitations of the managed package.
- Involves additional implementation steps
- Needs a push upgrade for each release, which can cause it to be out of sync with standard release schedules
- Restricts the ability to leverage the latest innovations in the standard Salesforce platform
- Redirects innovation efforts towards maintenance tasks
Salesforce is consistently enhancing its architecture to incorporate more features directly into the platform, eliminating the need to install the managed package. This strategy to release standard features without installing the managed package aims to simplify and enhance the customer experience.
Many of the Financial Services Cloud foundational capabilities, such as Financial Goals, Financial Accounts Data Model, Groups and Households, and Rollups were made available in the Salesforce standard platform with Winter ’23 and Summer ’24. See Considerations for Designing Your Financial Services Cloud Implementation.
