Global investment company abrdn is transforming its Know Your Client (KYC) operations with Salesforce Financial Services Cloud, and Experience Cloud, built on the Einstein 1 Platform, aiming to make compliance checks faster and more secure.

Why it’s important: KYC is a standard compliance process used in the financial services industry to verify customers’ identity, and checks are needed on an ongoing basis in accordance with anti-money laundering regulations. A robust KYC process is key for both a secure, efficient onboarding as well as ongoing reviews of abrdn’s globally operating corporate clients, while also managing business risk effectively.

Benefits to abrdn, include a more seamless employee and client experience, centralization of data, and enhanced automation of controls.

Driving the news: Salesforce is driving Edinburgh-based abrdn’s compliance efficiency by streamlining KYC workflows, client portal document collection, real-time reporting, and aiding faster decision-making.

Benefits to abrdn, include a more seamless employee and client experience, centralization of data, and enhanced automation of controls.

abrdn manages the KYC process via guided workflows and dynamic paths depending on the nature of each corporate client to deliver improved client experiences. This is possible thanks to Salesforce Financial Services Cloud, which comes out of the box with all the features in Sales Cloud and Service Cloud, plus industry-specific data models, processes, and capabilities.

abrdn clients can now log onto a self-service portal built on Experience Cloud and submit their documentation securely in just four clicks, with an intuitive user interface.  

Monthly reports, which were previously compiled manually, are pulled automatically with CRM Analytics and updated every day to ensure real-time visibility into client profiles. Employees can track the progress of compliance checks and how they’ve interacted with a customer. 

The integration with third-party apps such as Moody’s Orbis, which stores legal entity data on private companies, helps accelerate compliance check timelines.

Integration of data across its business ensures accurate reporting and compliance in a heavily regulated industry.

The trust factor: Financial Services Cloud leverages the Einstein 1 Platform to help abrdn unlock its data to power trusted AI solutions. In the heavily regulated financial services industry, trust is paramount to success. Salesforce’s Einstein Trust Layer offers end-to-end protection by ensuring privacy and security at every stage of the data journey.

What’s next: abrdn is exploring how it can use Einstein’s AI-driven Conversation Insights to create meeting summaries, generate data insights, and suggest next best actions to drive better sales conversations.

The customer perspective:

• “Trust is everything in our industry, and Salesforce is a trusted partner invested in our success. Financial Services Cloud, with its purpose built industry solution and out-of-the-box functionalities, allowed us to deliver at speed and grounded in our client data model. These integrate into our technology and data landscape to deliver the right outcomes for our business and clients.” – Remo Vogelsanger Head of Digital Solutions, Client Group, abrdn Investments 
• “Salesforce is a key strategic partner for us, who supports our growth strategy by enabling us to deliver a better client experience by streamlining compliance with KYC regulations.”— Xavier Meyer, UK & EMEA CEO, Global Chief Client Officer, abrdn Investments 

Trust is everything in our industry, and Salesforce is a trusted partner invested in our success.

Remo Vogelsanger, Head of Digital Solutions, Client Group, abrdn Investments 

The Salesforce perspective:

• “Our partnership with abrdn demonstrates the gains that can be achieved when organizations get technology right. From faster onboarding and compliance checks to consolidated insights, the company is already reaping the rewards in agent efficiencies and service improvements, all of which are crucially driving an enhanced customer experience.” – Richard Aspin, Senior Vice President, Industry Sales at Salesforce UKI

Learn more:

• Read more about Financial Services Cloud, Experience Cloud, and the Einstein 1 Platform
• Read more Salesforce customer news here

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