A bank recently sold its wealth management division and wants to improve its customers’ digital experience. The bank engaged Salesforce Professional Services to upgrade its existing Salesforce CRM to Financial Services Cloud and deliver its Bank of the Future vision. Which three expected outcomes can serve as return on investment (ROI) justifications to the bank's chief financial officer (CFO) and investment committee?
A. Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers' financial needs and deepen client relationships.
B. Deliver connected and personalized digital experiences to the bank's customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank.
C. Simplify the client onboarding process with proper tools to streamline customer discovery and internal reviews through renewal.
D. Manage policy holder’s interactions with customer service agents intelligently through the underwriting process.
E. Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships.
Explanation:
Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers’ financial needs and deepen client relationships; Deliver connected and personalized digital experiences to the bank’s customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank; Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships.
Reference: [Reference: Financial Services Cloud | Salesforce, , Explanation: Financial Services Cloud is a platform that enables banks to deliver seamless and personalized customer experiences across multiple channels and devices. Financial Services Cloud can help banks achieve the following outcomes:, Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers’ financial needs and deepen client relationships. Financial Services Cloud provides tools such as Lead Conversion, Referral Management, Relationship Groups, and Compliant Data Sharing to facilitate cross-team collaboration and coordination., Deliver connected and personalized digital experiences to the bank’s customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank.
Financial Services Cloud provides a unified data model that integrates customer data from various sources, such as core banking systems, online banking portals, mobile apps, social media, and third-party providers. Financial Services Cloud also provides features such as Customer Profile, Actionable Relationship Center, Interaction Summaries, and Einstein Analytics to provide a comprehensive and holistic view of the customer’s financial situation, needs, preferences, and interactions., Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships. Financial Services Cloud provides features such as Client Onboarding, Action Plans, Goals-Based Planning, Financial Accounts, Financial Deals, Next Best Action, and Einstein Bots to enable advisors to deliver proactive and personalized advice, recommendations, and solutions to their clients., , ]
Lake Tahoe Bank is rolling out Financial Services Cloud and the VP of IT is concerned about the cost of the licenses. The System Admin recommends using restricted licenses for users that need only limited access to Financial Service Cloud features. Which Financial Services Cloud permission set license enables user access to a license with contractual restrictions for Financial Services Cloud and can be used to grant restricted access to users like Bank Tellers?
A. Financial Services Cloud Standard
B. Client Segmentation
C. Financial Service Cloud Basic
D. Financial Service Cloud Extension
Explanation:
To grant restricted access to users like Bank Tellers who need only limited access to Financial Services Cloud features, the Admin can use Financial Service Cloud Basic permission set license. This license enables user access to a license with contractual restrictions for Financial Services Cloud and provides access to core objects such as accounts, contacts, leads, opportunities, cases, activities, reports, dashboards, and custom objects. This license also provides access to some Financial Services Cloud features such as Action Plans, Actionable Relationship Center (ARC), Branch Management, Complaint Management, Data Consumption Framework (DCF), Discovery Framework (DF), Document Generation (DG), Groups (Householding), Intelligent Document Automation (IDA), Intelligent Need-Based Referrals and Scoring (INRS), Referral Management (RM), Relationship Builder (RB), Relationship Groups (RG), Relationship Map (RM), Timeline (TL).
An insurance company wants to create a car insurance quote process for its website. The process should include the following functionality:
• The user has to enter contact and address information.
• The user has to enter the driver's age and the car model and year.
• The process should calculate an insurance quote based on the data the customer provided and save the offer to the client's record.
Which three OmniStudio tools should the consultant use to design a solution that meets these requirements?
A. OmniScripts
B. Integration Procedures
C. FlexCards
D. APEX Code
E. Business Rules Engine
Explanation:
The following OmniStudio tools should be used to design a solution that meets the requirements for creating a car insurance quote process for the website:
OmniScripts, which are tools that allow users to create guided, interactive, and intuitive scripts that capture data and execute actions. By using OmniScripts, the consultant can create a script that guides the user through the car insurance quote process and captures the contact and address information, the driver’s age, and the car model and year.
Integration Procedures, which are tools that allow users to orchestrate data and actions across multiple systems using RESTful APIs. By using Integration Procedures, the consultant can create a procedure that calls the core system service to calculate an insurance quote based on the data provided by the user and returns the quote to the OmniScript.
Business Rules Engine, which is a tool that allows users to define business logic and validation rules using natural language expressions. By using Business Rules Engine, the consultant can create rules that validate the data entered by the user and enforce any business policies or conditions for the car insurance quote process.
A major Japanese bank is expanding geographically and opening additional branches in Asia. As such, they hired a regional consulting firm to implement Financial Services Cloud (FSC) locally. What are the two expectations from implementing multi language features in FSC?
A. Referrals in Singapore and Hong Kong will be shared in English, but in Macau, referrals will be shared in Portuguese.
B. Bankers in Japan have been accessing FSC in Japanese, but the new bankers in China will be accessing FSC in Chinese.
C. In Tokyo branches, the names of the Account, Prospect & Contact are in Japanese, but the package Advisor, Personal Banker, D Relationship Manager, and Client Associate profiles are in English.
D. In Seoul, South Korea, the branch managers will be reviewing their FSC dashboards every morning in Korean, while their colleagues in " Shanghai, China, will be doing so in Chinese.
Explanation:
The following expectations are from implementing multi language features in FSC:
Bankers in Japan have been accessing FSC in Japanese, but the new bankers in China will be accessing FSC in Chinese. This expectation means that FSC supports multiple languages and allows users to choose their preferred language for their user interface and data display.
In Seoul, South Korea, the branch managers will be reviewing their FSC dashboards every morning in Korean, while their colleagues in Shanghai, China, will be doing so in Chinese. This expectation means that FSC supports multiple languages for reports and dashboards and allows users to view them in their preferred language.
A new custom object has been created, and the records of this object will be created through integration with another system What should a consultant do to ensure the data is loading into the correct fields in Financial Services Cloud?
A. Create a junction object between the external system and the new customer object where the data will reside
B. Ensure custom metadata is configured and each custom metadata record details where the data will be sent
C. Use a CSV file with the data created and use Data Loader to map to the correct field
D. Utilize a field mapping file with the external system (allocation and the corresponding field in Salesforce
Explanation:
To ensure the data is loading into the correct fields in Financial Services Cloud, the consultant should utilize a field mapping file with the external system allocation and the corresponding field in Salesforce. A field mapping file is a file that specifies how fields from an external system map to fields in Salesforce. By using a field mapping file, the consultant can ensure that the data from the new custom object is imported into the correct fields in Financial Services Cloud and avoid any data loss or inconsistency.
Which three of these statements are true for Rollup By Lookup (RBL) in Financial Services Cloud?
A. An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances.
B. Person Accounts need to be enabled in order to use the Rollup by Lookup functionality.
C. The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem and group levels
D. Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules
E. RBL rules do not require a lot of processing power.
Explanation:
The following statements are true for Rollup By Lookup (RBL) in Financial Services Cloud:
An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances. You can use RBL rules to aggregate financial account data across different levels of client relationships.
The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem and group levels. You can use RBL configuration to define which fields are rolled up and how they are calculated for each diem and group type.
Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules. RBL rules are complex and require extensive testing and validation. If you need to create or customize RBL rules, you should contact a certified Salesforce partner or consultant. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 75. : Salesforce Financial Services Cloud Implementation Guide, page 76. : Salesforce Financial Services Cloud Implementation Guide, page 77.
Cumulus Bank is migrating its CRM software from a legacy application to Salesforce Financial Services Cloud (FSC). The bank hired Salesforce Professional Services to configure/deploy the new Salesforce FSC org and migrate data. Which order should a consultant follow when performing the data migrations?
A. Individuals, then Financial Account Roles, then Financial Accounts, then Financial Account Transactions
B. Individuals, then Financial Accounts, then Financial Account Roles, then Financial Account Transactions
C. Financial Accounts, then Financial Account Roles, then Individuals, then Financial Account Transactions
D. Financial Accounts, then Financial Account Transactions, thenVinancial Account Roles, then Individuals
Explanation:
The order that the consultant should follow when performing the data migrations is Individuals, then Financial Accounts, then Financial Account Roles, then Financial Account Transactions. This order ensures that the data dependencies and relationships are maintained and that the data integrity and quality are preserved. By migrating Individuals first, the consultant can create the records that represent the customers of the bank. By migrating Financial Accounts next, the consultant can create the records that represent the financial products or services that the customers own or use. By migrating Financial Account Roles next, the consultant can create the records that link the individuals to the financial accounts and define their roles or relationships with those accounts. By migrating Financial Account Transactions last, the consultant can create the records that represent the transactions or activities that occur on the financial accounts.
Cumulus Bank wants to use Interactions to capture conversations that investment bankers have with their clients. Due to the sensitive nature of the interactions, the bank needs to carefully limit access to the detailed notes for certain groups. Basic information about attendees and meeting dates is not sensitive. Which three options should a consultant recommend?
A. Enable Compliant Data Sharing for Interactions.
B. Enable Compliant Data Sharing for Interaction Summaries.
C. Disable Role-Hierarchy-Based Sharing for Engagement Interactions.
D. Use Interaction Summary Participants to provide the right access to individuals or groups.
E. Disable Role-Hierarchy-Based Sharing for Interaction Summaries.
Explanation:
Enable Compliant Data Sharing for Interaction Summaries, Use Interaction Summary Participants to provide the right access to individuals or groups, and Disable Role-Hierarchy-Based Sharing for Interaction Summaries.
Reference: [Reference: Interaction Summaries | Salesforce Architects, Explanation: Compliant Data Sharing is a feature that allows granular control over access to sensitive data in Financial Services Cloud. By enabling Compliant Data Sharing for Interaction Summaries, the bank can restrict access to the detailed notes field on the Interaction Summary object. By using Interaction Summary Participants, the bank can grant access to specific individuals or groups who need to see the notes for certain interactions. By disabling Role-Hierarchy-Based Sharing for Interaction Summaries, the bank can prevent users from inheriting access to Interaction Summaries from their managers or peers in the role hierarchy., , ]
Lake Tahoe Bank is migrating customer records from the Individual Model to Person Accounts. Which three steps should a Data Architect take to ensure a successful migration?
A. Ensure Person Accounts is enabled on the org
B. Configure your Person Account record types m the Indrvidual Record Type Mapper.
C. Enable 'Individual to Person Account Migration' in Custom Settings.
D. Use a CSV field to map PersonRecordTypeld to the Person Account RecoroTypeld and use Data Loader to update Client Records
E. Log a case with Salesforce to perform the conversion from the indrvkJual Model to Person Accounts.
Explanation:
The following steps are required to migrate customer records from the Individual Model to Person Accounts in Financial Services Cloud:
Ensure Person Accounts is enabled on the org. You need to have Person Accounts enabled before you can convert Individual Model records to Person Accounts. You can enable Person Accounts by contacting Salesforce Support or by using the Enable Person Accounts option in Setup > Account Settings.
Configure your Person Account record types in the Individual Record Type Mapper. You need to map your existing Individual Model record types to the corresponding Person Account record types. You can do this by using the Individual Record Type Mapper option in Setup > Financial Services Settings.
Use a CSV file to map PersonRecordTypeId to the Person Account RecordTypeId and use Data Loader to update Client Records. You need to update the Client records with the correct PersonRecordTypeId value that matches the Person Account RecordTypeId value. You can do this by using a CSV file and Data Loader to perform a bulk update operation. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2 : Salesforce Help Article 3
A retail bank is using Financial Services Cloud to support its operations. The bank has received complaints that its clients' documentation is often submitted late and when clients call, customer service agents are struggling with multiple systems to determine where the documentation is. Which solution should a consultant suggest the client explore?
A. A Marketing Cloud integration to manage client communications
B. An APEX solution to leverage the SendMail capabilities of Salesforce
C. Process Builder to create automatl&Socument requests for missing items
D. The Send Documents flow for Retail Banking
Explanation:
The solution that the consultant should suggest the client explore to improve its clients’ documentation submission and tracking is the Send Documents flow for Retail Banking. The Send Documents flow for Retail Banking is a prebuilt flow that allows users to send documents requests to clients via email and track the status of the requests in FSC. The flow uses DocuSign eSignature integration to enable clients to sign and return documents electronically. By using the Send Documents flow for Retail Banking, the consultant can help the client streamline and simplify its document management process and improve its customer service agents’ efficiency
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