Introducing…Einstein Analytics For Financial Services

On May 7, 2019, Salesforce published a press release announcing the new Einstein Analytics for Financial Services. On that same day, SVP and GM of Salesforce Einstein Analytics Ketan Karkhanis did a brief Q&A about the new capabilities. Here is everything you need to know:

Who Is The Main Beneficiary?

Einstein Analytics for Financial Services will mainly benefit wealth advisors, retail bankers, and managers. It provides AI-augmented business intelligence to help users make the most of their current opportunities. Salesforce noticed a gap where financial institutions needed to foster close customer relationships but were struggling to make sense of all of their customer data. There was a need for accessible data-backed business recommendations to create powerful connections with customers. With Einstein Analytics for Financial Services, users can easily gain powerful insights that will lead to better business decisions and stronger client relationships.

How It Works

• AI-Powered Recommendations: Financial services professionals can use predictive insights about client behaviors to boost client relations. For example, by using Einstein to find customers most likely to make investments, financial advisors can approach them with helpful action plans.
• Transparent Industry Dashboards: Rather than going to a specialist to build reports on common KPIs, wealth advisors can make use of pre-built industry-specific templates. There are many to choose from, such as client financial goals and interactions, referrals, deposits, and fees. For example, these dashboards make it easy to isolate which clients are struggling to meet their financial goals. This means you know who to approach to offer assistance.
• Ability to Analyze Eternal Data: Financial data is often housed in different systems, and this functionality allows Einstein to access this data. By quickly building custom analytics apps, users can get a better all-around view of their customers.
• Industry Regulation Compliance: With financial data, regulation compliance is particularly important. Einstein Analytics for Financial Services meets compliance requirements by hosting all data in a trusted, secure, and compliant cloud-based platform.

Why Was This Built?

Since introducing Einstein Analytics Plus at Dreamforce, Salesforce has been working hard to deliver industry-specific analytics products on the platform. While the financial sector benefits from being the first, users can look forward to products focused on health & life sciences, manufacturing, consumer goods, insurance, and more. Salesforce noticed a growing need for powerful analytics and predictive metrics in all industries. Gone are the days of waiting on a data analyst to tell you how to use your data. On-demand analytics are now expected, and Salesforce is ahead of the curve when it comes to easily adoptable solutions.

Einstein Analytics for Financial Services is fully integrated with Salesforce Financial Services Cloud, and it can be easily deployed to start generating value immediately. Rather than spending time deciding what to measure and how to make the most out of the data available, this product comes with over 100 dashboards and over 200 KPI-focused views. Out of the box, these metrics are ready for anyone to use. The added bonus is that it leverages AI to predict future behavior. These forecasts can help users gauge their business strategies to better prepare themselves. Users can build, test, and use predictive models without writing a single line of code!

Want To Learn More?

If you want to learn more about Einstein Analytics, the team at Ntegro can be of assistance! We are Salesforce consultants who specialize in providing unique business solutions to our clients. We can work with you to customize an action plan to help you make the most of your data and systems! Get in touch with us online today for a free consultation!

Have you worked with predictive modeling before? What kind of value have you gotten from analytics in the past? Are you excited about the next verticalized solution Salesforce unveils? Let us know in the comments!