Over the past few years, this innovative technology solution has drawn a lot of attention from investors and other banking experts thereby propelling its popularity beyond the trend fanatics. So, what is so unique about Blockchain that has taken the banking and finance sector by storm? The features of decentralization, immutability, transparency, etc. make it an extremely secure, transparent, and impossible to alter platform.
The consensus mechanism offered by the ‘smart contract’ functionality of this robust platform provides a way for different actors or parties that are a part of the Blockchain, to reach a state of agreement without the need for an intermediary. By providing access to a ledger that isn’t administered by anyone, Blockchain can provide a wide array of financial services i.e. from record-keeping, third-party transactions, and cross-border payments to back-end operations, audit and regulatory compliance in the most secure, transparent and efficient way.
How Does Blockchain-powered Salesforce CRM Transform the Financial Sector?
While a robust CRM system like Salesforce offers a centralized location for storing data that comes from multiple sources, combining it with an innovative technology solution like Blockchain can help financial institutions significantly improve their workflows and build reliable partner networks that extend the CRM. Besides extending its’ capabilities of transparency, trust and traceability in every single customer interaction, a Blockchain-powered solution can help break down data silos and business boundaries.
The recently launched Blockchain initiative by Salesforce is the first and one of its kind Blockchain integrated into CRM. Powered by Salesforce Lightning and built using Hyper-ledger fabric, this low-code platform extends the capabilities of the Salesforce CRM by helping businesses build trusted partner networks that share substantiated and distributed data. Allowing developers to build DAAPS or Blockchain applications with simple clicks and no code, the Salesforce-powered Blockchain platform can help financial institutions understand their pain points while ascertaining opportunities to advance their business models. In a nutshell, it provides the trust and transparency that the financial sector requires to share with their customers, as well as themselves.
Wrapping up
Though banks and financial institutions are under strict regulatory pressure, more and more financial institutions are leveraging the tremendous potential of Blockchain technology to streamline it for transparent, reliable and accessible financial transactions. When integrated with a robust CRM platform like Salesforce, businesses can create new processes and models that can help them accelerate business speed and agility. As a forward-looking financial organization, you can draw benefits from a Blockchain-powered Salesforce platform by partnering with a reliable Salesforce consulting agency.
