Financial Services Keynote: Build Loyalty by Unlocking Your Firm’s Full Power | Salesforce

Good morning, everybody. Come on. Good morning, everyone. There we go. Now we can start. Welcome to the financial services keynote. My name is Rohit Mana and I lead our financial services industry team. And I got to start here. How good was that concert last night?

Right?

Hopefully everyone had fun, but not too much fun. You were able to rest, you slept in and you're ready for the session today. And we have got an incredible session for you today. Just think of what's going on in financial services. This is the industry to be in and this is the time to be in this industry. There's so much change going on. There's so much disruption going on. And you know what, it's happening at unprecedented speed. It was only a year ago that we're here last at Dreamforce together. We're here with our friends from farmers. You see them up on the slide here. And so much has happened in this industry just in the last 12 months. I can tell you from our side, we've been working really hard at Salesforce. We've launched now our second product financial services cloud for retail banking. And I could not be more excited to share all the all of this with you here today. Here's how we're going to start. We're going to start by saying thank you to everyone that's joined us in the room here today and for everyone that's watching us online, you are all part of our financial services ohana and I want to say a big thank you to everyone. I'm going to share a little story here. I've been at Salesforce for six years now and I got to tell you, six years ago we ran our first industry session. We thought we were doing big things. We're in a really cool breakout room. We had a couple hundred people in there and just check this out now, we've got thousands in the room here today, many, many more online. So again, a big shout out and thank you to everyone for being part of our ohana. Now you've seen this slide a lot. This is our forward looking statement. You guys know what to do. If you want to learn more, jump on our website and read about it. So what are we going to do today? We've got 60 minutes here together and what I want to share with you is some insights that we've been hearing from customers around the world, where they see the industry going and how it's shaping our point of view at Salesforce. And I want to shine a light on this. We're going to have two incredible customers come up on stage we're going to have Citi, we're going to have kiva.org a non profit, share their vision for the industry and what they're doing with Salesforce. We're then going to give you an update on our strategy of what we're doing with financial services cloud and why we're so passionate about building this ecosystem around financial services cloud. We're going to have an incredible partner of ours, Encino, join us up on stage to share their vision. Now again, I said I've been here six years and I have to say the thing that I love most about this job is that I have the opportunity to spend a ton of time on the road with all of you, our customers. And I've realized over the years that it's now my charter to bring this community together so we can listen to you, we can learn from you, we can understand what headwinds you have, we can co create and solve these problems together. And something that I've been hearing over the past few months and if you were in Mark's keynote on Monday, you heard it from Mark and that is we live in a different era now. We live in the era of intelligence. And this is creating unprecedented opportunities for us in financial services. You know, the World Economic Forum calls it the fourth industrial revolution. Me personally, I'm a big history buff. I love to read about the intersection of what's happening in the world to us in financial services. Let's go back in time a little bit. Let's go back to the 1800s. Just think of what was happening during this time era. Explosion in manufacturing, incredible things happening with steel. The world was going vertical. You know, so many different things happening around technology with electricity and so many other things. But what did it do for us in our industry? It created an incredible appetite for capital. You know, it standardized the markets, it created modern day Wall Street. If we fast forward to the 1900s, modern, my favorite story here is when the first ATM went live. If anyone remembers this story, this is supposed to be the death of branches, right? Tellers were gonna be no longer required. This wasn't that long ago, it was only 1969. We know what actually happened here, that didn't occur. But what the ATM did do is it created new channels of opportunity for the customer to interact with the financial institution. And if we fast forward to current day and use that kind of as a backdrop and we think about the fourth industrial revolution again in our industry, we're seeing unbelievable opportunities to be better connected internally with our own bankers and our own insurance agents, no matter where you are in industry. But more importantly, to be better connected externally with our customers, our policyholders, our clients. This whole idea around blockchain is going to change what's going on in financial services. AI is going to help us be much more intelligent with every interaction that we do again, both internally and externally. And it's just giving us more and more channels, opportunity to interact with our customers. And the customer is honestly the most important thing as we move forward in our industry. The way I like to think about this is it's the modern day customer for us in financial services, right? This modern day customer not only has different expectations, I think we all understand that, but what they're doing now is they're benchmarking you, they're benchmarking us not against traditional competitors, not just against another wealth management firm, an insurance carrier or a bank. They're actually comparing you against any institution that's providing financial services as part of their overall lifestyle. The, the customer's looking for integration. Where I go for inspiration, the true north of where this is happening is in China. Check this out. WeChat, one of the largest messaging platforms in the world and really everywhere in China has actually done this integration. And as seamless and easy as they've made it for an individual to interact with a friend, you know, a loved one, yet can actually also that easily interact with financial services. And again, this is what this customer is looking for now. They're looking for this lifestyle integration. So what's happening? I'll tell you what's happening. There's more options now for our customers, right? And what these options are occurring is it's resulting in a bit of a loyalty crisis. And I gotta tell you, none of us like this in our industry. You never wanna see this happening. And it's crazy. There's data backing this up. Let's take banking for example. In banking, 49% of banking customers feel as if the bank doesn't have their best interest at heart. They're not really looking after them the right way. On the flip side, the IT leaders in industry, only 20% of them feel as if they've got the right strategy or they're equipped correctly to respond to blockchain, to AI and, and all these modern technologies. So what's the result? You're probably wondering, Rohit, what's the result here? I'm going to tell you the result and the result's not good. Check this out. That is 36% of all banking customers. They're cheating on their bank you're right, they're cheating, cheating on their bank. What I mean by that is they're going to their primary bank to maybe open up their checking account. They're going out the back door, going over here to open up their mortgage somewhere else. Then they're going over here to maybe get a life policy. It's not the experience we ever want in this industry. Right. You never want your customers to be doing this. But we got a silver lining here. There's good things going on and that is that all of you in the industry have got a potentially competitive advantage. And it's about how do you take advantage of that, how do you unlock that? How do you use to your benefit that you truly understand what's going on with the interaction points with your customers? Because you've got so many different channels right now. Could be the atm, it could be a storefront, it could be a mobile app. You've got so many channels of interactions. You also understand so many things about what's happening with the markets. You understand risk compliance regulations. You know, you truly understand all these things. It's just about how do you use them to your advantage and unlock your full potential. So to me, that's the real question that we need to be thinking about here. You know, how do we unlock our competitive advantage? Where do we start? We start right here. You start with your customer. You use that as your center point, as your pin of pivot point, and you work on uniting your entire institution around the customer so you could be part of their overall daily lifestyle. Let's think about this from a connectivity side. You know, when we speak with banks and we speak with insurance firms, wealth management firms, sometimes they say, rohit, it's difficult for us to break down silos internally. My response is, you don't always have to make such a big transformation. Sometimes you could just create windows between your lines of business. Was when the time is right and you need to process a referral, maybe from the banker to a mortgage specialist. It's got a lot of information around it. It's got texture, the person wants to work on it. When we think about intelligence, think about this in an insurance context. You know, there's so much catastrophe happening in the world right now, different things going on. With natural disasters, wouldn't it be great if your insurance agent could intelligently be armed with knowing which of his policyholders in his book are being affected by maybe a natural disaster, so they could reach out to those constituents, you know, be where they need at their time of need and this all drives this whole notion of personalization in our industry, and it's about continually refining this over time and always uniting your entire institution around the bank or around the customer. When I talk about these things, what I quite often hear is people will say, you know what? I don't know where to start. You know, this seems complicated. It seems scary to me. We're not equipped for it. I got some good news for you here, everybody. The good news is myself and my team have got your back. We're thinking about this extensively, and this is core to what we're doing from our strategy with Financial Services Cloud. I'm personally incredibly excited to tell you that we are investing more and more in financial services than we ever have done before. And we feel no matter where you are in industry, you're a bank, a carrier, you're a wealth management firm, Everyone should be having a consistent view of that client, of that policyholder. Everyone should be able to be better connected internally, externally. Everyone should be leveraging the power of intelligence.

And.

And this is what we're incredibly passionate about. This is why we're building Financial Services Cloud. And we're only gonna be doing more and more of all this for all of you guys. Now, today, we're really, really fortunate to have a customer here with us who's doing really, really innovative things in the customer experience side, and that's Citi. Just take a second and think about Citi. Citi is a really large bank. They operate globally. They've got hundreds of millions of customers all around the world, and they're able to do this. They're able to put their customer at the center of what they do, and they're able to do it at scale. And I gotta tell you, this isn't easy work, what these guys are doing. We've actually got over 50 of our city team in the audience here. I know they're all over the place. Let's give these guys a big shout out for what they're doing. Go team Citi. We were really, really lucky, as we've been working with Citi, to sit down with a few of their key executives in front of a camera to hear their vision, to hear what they're doing with Salesforce. And when I roll that film, so we all could see it. Let's roll the film.

If you think about Citi, we're everywhere. We are a global organization. Our customers are everywhere. Our job is to make sure they're connected wherever they go.

It's getting tougher for an individual, a small business, a Company, a family to really think through their finances today and planning for the future.

The way that we're looking at delivering financial services is really to be embedded in their lifestyle. Our goal is to be their always on financial life partner.

Putting the customer at the centre of everything we do is the new mantra within our organization.

In a world where the client experience is becoming the true battleground, how we can offer that segment of one, the right service, the right advice at the right time and in the right channel.

What our customers are asking for is a better experience. They want an experience that's simple, personal, human and most of all cohesive. They want to know that we know who are they?

They are.

So if I understand you as a customer much better, I can provide a set of services that are unique to you. And I think the technology is enabling us to be able to serve that need now.

Technology is the bank of the future. There's so much going on as we build Citi into that future compatible competitor.

The tools that we have in working in partnership with Salesforce allows us to provide that insight in minutes.

Salesforce enables our colleagues to do what they do best, which is build that relationship with our customers. It allows them to understand our customers needs in order to see our customers realize their life goals.

Our relationship with Salesforce is key to building customer trust because what it really does is ignite our relationship managers, our financial advisors with our financial services cloud. This really does allow people to be able to connect to us in a way that they never could before.

If they need a home lending solution, we have a mortgage specialist. Or if they need wealth management advice on investments, we have specialists who can help them think through that.

What you're seeing is Citi develop into a learning organization where new tools and techniques have been introduced to help us better meet our goals and ultimately serve our customers better.

We're listening, we're co creating with our.

Customers, we're sitting there side by side with them, understanding how banking fits into into their daily lives.

And what we look for is understanding our customers needs at any particular point in that life journey and become that always on life partner.

What an awesome video. I love that. Now you heard from two of their executives how Citi's so passionate about being the always on life partner for their customers. And I think we gotta see this to really understand what this means and to do that I want to invite up someone to the stage who's been a core member of our financial services cloud team from day one. She's put her heart and soul into building this. Let's give a big, warm round of applause to Kelly Utley, who's going to walk us through Demo City.

This girl is on fire.

This girl is on fire. Wow.

I cannot even believe that I get to be here with you today. You know, prior to joining Salesforce, I was a customer working in wealth management, but it was my absolute dream to come here and be part of this company. I had vision boards and everything. I'm telling you, it was the whole nine yards. And so to be here today and have the honor of being on stage to showcase the success of a customer like C is incredible. And I'm really, really excited to get going. So we're going to start our story today. I'm going to introduce you to our characters. I'm going to be playing the role of Kim, and she's a Citigold financial advisor. I'm going to collaborate here with Nick, who's a Citigold relationship manager. And together the two of us are going to form a dedicated team and provide personalized investment in banking solutions for our customer here, Carla Adams. So we're going to go ahead and get into it where I start most of my days, and that is on the financial services cloud homepage. It's where I go anytime I need to get focused and organized. This dashboard that you see here in the center is a great example of how my team stays on top of our customer touch points. I can see where we are with our progress on quarterly reviews, and I've even got this great chart that helps me understand trends. I understand month over month where my customers are engaging with our team and where we're spending our time. And this is really critical because we manage almost 200 households and that's a lot of activity to coordinate. This really helps us to be proactive. Now, if we want to talk about taking it kind of to the next level in terms of proactiveness, allow me to introduce you to Einstein, my personal data scientist. And I see I've got several insights here. I'm really interested in this one on top. It's a Citigold lead for our customer, Carla Adams. Now, there's predictive factors here that are telling us that Einstein understands that customers like Carla would really benefit from the added guidance of Citigold. I've got a suggested action here to open her customer profile to learn more. So I'm going to go ahead and do that. And now I see the financial services cloud. Beautiful customer profile. I've got my activity timeline. I can understand all of the different communication points that Carla's having across the bank. And I even have access to kind of this great know your customer information. And I always find some cool nuggets of information in here. Take, for example, Carla has dual citizenship. She's Australian. Now, Einstein does a lot for me during the day, and this time I see I have another insight. This one's a little different. It's a life event insight. Now, our bank uses social listening, and Carla here has tweeted that she just had a destination wedding. She got married on the beach in Cabo. That must have been a fantastic day. And this is the kind of information that, while never even talking with Carla, I feel a little bit like I know her and and know what's going on in her life. So this is great. I feel really prepared, and with one click here, I can launch the lightning dialer and get connected to Carla. Awesome news. We had a great conversation, and she's interested in moving forward. So I'm going to save my call notes. And then over here, I had this personalized offer for Carla. With one click, I can reflect the fact that Carla has accepted accepted membership in Citigold, and she is well on her way to becoming one of our very happy customers. Now, I have to pause and just mention something here, because I think this is really powerful. We just saw how we can deliver intelligence in the form of an insight, have suggested actions and capture outcome all in one beautiful closed loop. And that is one of the things that made me fall in love with this platform. Okay, so another thing I love to do is a little Dreamforce magic. We're going to perform some here today. Is everyone feeling magical? We're going to jump in our time machine, and we've now jetted five years into the future. This is Carla's profile. You see, she has her dedicated team. Nick and I have been working really hard. And you can look. This profile is lit up literally with the things that we've learned about Carla throughout the years that we've been working with her and financial Services Cloud facilitates this really deep understanding of our customer. This is one of my favorite things, this relationship map. It's a really great visual that helps me understand not only Carla and her relationship to her household, the Miller household, but I can understand her full relationship network, all from this one view. Now, I've introduced you to Einstein. I've relied on him several times. I'm going to do that again here today. I've got another life event insight. You know, Carla's pretty social, and this time she's tweeting about the birth of her new daughter, Maria. So with one click from my relationship map, I can go ahead and start adding Maria to the Miller household. Now, this is really cool, honestly, because most of the time this is the kind of information that might just stick in an advisor's head or maybe in the notepad, but we make it very easy to systematize the fact that the Millers are new parents. Einstein understands this and can use that information to further personalize this experience. Now, that's a lot about how Nick and I and within the bank were able to be proactive using the financial Services cloud. But let's take a look at the Citigold mobile app so you can see how our customers are proactive with us. So you see here, Kim has her dedicated team right here at her fingertips. She can start a secure two way conversation with us from wherever or whenever she. Wherever or whenever she needs to. So, like here, you see, she's telling me that she just got a promotion, she's crushing it at work and they're ready to pull the trigger on that dream vacation home in Sydney. I can let her know that we can manage her investments, free up some money for a down payment. But I'm even going to suggest something that maybe she hadn't thought about before. The city Qantas signature card is really going to help her rack up those miles on the way back and forth on those flights between the US And Australia. So you know what, Carla loves this suggestion and you know what I love? All of this is captured back in Financial Services Cloud. So now, very easily I can hand it over to Nick. This is his view of Carla in Financial Services Cloud. He can see all of the actions that came out of the conversation that I had with her on the mobile app. And he's going to go ahead and get busy. We've got some work to do here. So with one click, he can get a referral going. And there's so much rich information already about Carla and her life history. There's not a lot for him to do. He adds some quick details. We're going to hit save. And once we do that, Einstein is going to take back over and route this lead to the person that's equipped to help Carla, and that is Rachel, our mortgage specialist over in Sydney. So let's say hello to her today. Hey, Rachel, how you doing? You gonna take this for Carla and get her that dream home she's always wanted?

Definitely.

I can see Carla's referral right here.

I'm gonna get working on it right now.

Awesome. So thank you, Rachel, and I hope you guys were able to really see three things in this demo today. First, how Einstein's insights better help us understand our customers. Second, how we can easily personalize the experience in financial services cloud based upon these customer key life moments. And finally, how easy it is for us to collaborate across the bank and create that connected experience that our customers deserve. So thank you, everybody. And back to Rohit.

Thank you, Kelly. What an incredible demo. What I want to do now is I want to invite up one of the leaders that you saw in the film. Let's invite up Yolanda Piazza, the head of City fintech, to the stage. Big round of applause from Yolanda. Hey, Yolanda. How you doing?

Hey, Roja. I'm good, thanks.

And you, now you really go by Yo?

I do.

I go by Ro.

Perfect combination.

This is the yo and Ro show.

It's the yo and Ro show.

All right, let's get started. So yo, you guys are doing some really cool things around customer experience. Everyone is honestly talking about it, but you guys have kind of reimagined what customer experience means and how you help your customers achieve their life goals. Could you share a little bit about that?

Absolutely. I think we've heard it throughout this week about the real shift in industry and really putting the customer first. I think this now the customer gets to define what they want, what they expect, and the days of banks dictating the relationship people have with money are gone. So with the use of technology, with the use of really starting to understand and treating a customer as an individual and creating personalized experience experiences throughout their life journey, I think we're on that pivot now, and I think that's really what we've been focused on, is really trying to get into that need. I think we also need to be very conscious that there's been a big focus on everyone needs a cool mobile app. The app isn't the future. It's just one way to be able to deliver financial services. We have to be at the forefront of where our customers spend their day. Whatever they're doing, they need to be able to get quick, easy, seamless access to their financial services and their financial tools. And we really spend a lot of time thinking about how do we really engage on a whole different level.

You mentioned personalization in there. Can you talk about how personalization helps you unite the bank around the customer?

Without a doubt. So everything is, for us, focuses on the customer. Everything we build, everything we think about. We've really started to Reimagine what that can look like. You think now with the age of technology, we have the ability to educate customers on their financial journey. And it's been really hard to do that unless you're having one on one personal conversations. But for us, when we first started, when we set up Citi Fintech, we actually closed our doors for the first few months and within 12 days we're talking to customers. We sat down with 2,500 customers to really understand what their issues were, what was their frustrations with their experience. And what we found is what we thought they wanted was actually not what they wanted. What they wanted was us to bring the core basics of their services to life wherever they are. And so we rethought and put product in market, really around again rethinking our experience with customers. Today we're actually at 21,000 one on one experiences with customers. Again, really trying to dig deep to understand what is their problem statements and how can we bring a set of services. One of the interesting things, people think that customers, well, people want five applications, they don't. What they want is the best possible experience and they want it in one place, but they're not willing to basically sit back on their laurels and take experiences that don't meet what they want. So it's up to us to be able to rethink that and be able to bring those services to them.

Cool. Got one final question for you. It's almost a follow up to what you were just saying and that is you're doing incredibly innovative things with Citi FinTech. Could you just share a few thoughts on why that's so important how you're working with the larger ecosystem?

With fintech, when I think about innovation, I think about it in three different ways. We have to innovate internally. We have to be ready to embrace change. We have to be able to trust in the people we're bringing in to bring solutions for the customer that we would never normally think about. So we have to innovate internally. We have to innovate and think differently about our partnerships and who we are engaging with. And then we have to think differently about the services and where we're going to deliver, deploy them. I think one example of last year we deployed our Citi developer hub and what we recognized was we don't have all of the ideas. So we exposed eight different categories of APIs across 15 different countries and invited the developer community to come in and help us partner in the space of innovation. So now we have over 400 prototypes of of new applications based on those relationships, and 4,300 developers that are actively out there working and looking to how they can leverage our APIs. So the whole piece around partnerships is absolutely key. I think you've seen some of the demo that really helps us to rethink and reengage with our customer. And I think the whole Salesforce relationship is really actually allowing us to rethink, think, and start to unlock the potential.

Thanks, Joe. Thanks for spending time with here today. Continue. I don't know about all of you, but this whole idea of what Carla was living, she's kind of living the dream, planning to get to Australia, buys a house, eventually moves there. I think what I'd like to do is try to help someone in this audience live that Carla dream. We want to send someone potentially over there. So here's what we're going to do. We're going to give away some money. We're going to give away $3,000 to one lucky winner in the room here that's going to be able to maybe plan your own trip and go to Australia. Here's how we're going to do this. I want everyone to get comfortable here. I want you to reach under your chair, and one lucky winner here is going to have a ticket that looks like this golden ticket up on the screen. Come on. Look, look, someone's got it. No, that's not it. Someone's gonna have it here. Where's our winner?

Whoa.

There he is. There's our lucky winner. Congratulations, Sir. You've won $3,000. And like I said, I encourage you to go to Australia and be like, you're gonna do it. Co. Love the music. So as we move forward in our session here, I want to share with everyone a little bit more around our industry strategy. Before I talk about what we're doing today, I want to go back to three years ago and tell you why we decided to build financial services cloud. And it actually came from all of you. We started sitting down with our customers and we started hearing a common theme. And the theme was that everyone was struggling with making this pivot from being product centric to relationship centric. And they were asking us to help them. And the reality is we learned that relationships are much more complicated than ever before. There's much more texture around a relationship. When you think about a household, there's just so much going on there. We got really, really passionate about this, and we started to reimagine to rethink what high touch relationship management could be. You know, what could it be like? How could we change the way that an advisor functions as a team and then more importantly, the way that they work outbound with their customers? How could they change the way that they provide financial advice? And this became the driving force for us to build Financial Services cloud for retail banking. Sorry, Financial services cloud for wealth management. I gave a reveal way there. That's coming next. Chapter 2 so we launched Financial Services cloud for Wealth Management in March last year and it was really, really well received. And I fundamentally feel it's because we co created it with our customers. It was something that they'd asked for, something that they wanted. And customers all around the world of all different sizes have been using this product and they've been getting great results. You know, one of my favorite customers is Trilogy. They've just gotten one off the charts results from an ROI side. And an interesting thing happened is as we were working with these customers, they were telling us more features that they wanted, which kind of makes sense. But what they also told us is they wanted to take this high touch relationship management experience and extend it down to everyone that's in their enterprise so that anyone that's interacting with the customer could be part of this movement. And this drove chapter two of our strategy and chapter two of our strategy is about financial services cloud for retail banking. And as we're building this product out, we just launched it a month ago, the response has been really, really, really good with it. But what we realized is the future of not only retail banking, but this industry is going to be determined by the right ecosystem of partners that come together to start solving the next wave of problems that are occurring that quite frankly the industry and customers aren't even aware yet, but they're gonna come really, really fast. So we've invested tremendously in this idea of an ecosystem around financial services cloud. And when we think of the ecosystem, we think of it two ways. First it's with the developer. Second is with the partners that are out there. So I encourage anyone that's a developer or even if you like, to learn more about building things, to jump on trailhead, to check out our industry trail, to check out our financial services cloud trails and just learn more about the product and what you could do with it, to extend it. When I think about the other leg of the ecosystem, it's about these partners, right? And to me it's so important to be partnering with partners that have a shared vision for where they see the industry going. And, and we've been doing a lot of work with these. And I guarantee the next time we're together at Dreamforce, a world tour, this slide will be doubled with the amount of partners that are on it. And the best way to see the power of what this ecosystem is doing with financial services cloud is you gotta see it. You gotta see a demo of it. And to do that, I wanna invite up an original trailblazer to the stage here. Someone who spent multiple years, decades in the industry. Now we're fortunate enough to have him over here driving our go to market strategy for financial services cloud. So let's invite up to stage John Almeida, who's going to walk us through this demo. Stage is yours, John.

Thank you, Rohit. What an introduction that was. He just called me old decades in the industry. This is my eighth Dreamforce. I came here the first six years as a customer. I worked for a large financial services company in Rhode Island. Shout out to the small state crickets. 175,000 people. I'm the only one from Rhode Island. Okay, that's fine. The last two of which I was here as a Salesforce employee. And it's quite the honor to be talking to you today from the main stage. Okay, so let's get cracking. Before we get into the demo, let me introduce you to our Personas. We have three of them. First is Matt. He's our trailblazer salesforce administrator with Cumulus Bank. We also have Rachel, a millennial, a prospective customer who's looking to consolidate some debt with a personal loan. And then lastly, we have Victor, the banker at Cumulus Bank. So let's jump into this story, which starts with Matt, the trailblazer salesforce administrator. Matt's always looking for new ways by which he can configure financial services cloud to meet the needs of the bankers so they can break down banking silos so they can collaborate better across any line of business and by extension, better serve their customers like never before. He knows about Salesforce Trailhead, which is the fun and easy way to learn all things Salesforce from anywhere, on any device. And today he's on the bart, or as we say in New England, the bot. And he's heading into work and he wants to be productive. So he whips out his iPhone, he searches for a banking trail, and he comes across this one. Be the bank your customers love. This one's going to be great for him because it's going to teach him business elements. Couple that with the technology that we take him through, and he can actually make a real difference at Cumulus bank for his Bankers. It's fun, it's easy. He rips through this in no time. And now he's pumped. He wants to get to work and see this in action. Fast forward about an hour in time and that's exactly where we're at. We're at work now, and Matt logs into the financial services cloud, and he starts dragging and dropping these referrals and referer cards, these new cards onto the homepage by clicks and not code, not one lick of code here. And he can save that. And instantly he sees the fruits of his labor. Now, this referral engine that we built for financial services cloud for retail banking is successful, significant, because we all know that the days of pumping referrals to bankers to meet some arbitrary quota and not customer needs are over. So this is going to enable his bankers to have a thumb on the pulse of the referrers and the referrals so that they can go after the ones that are the most tangible. So just like that, he made a difference. Now, Matt isn't the only trailblazer at Cumulus Bank. We have a whole marketing department full of them. But they struggle with customer acquisition, especially those who are anonymous to the bank and haven't yet raised their hands. That's where Salesforce data management platform comes in. Dmp. Because the days of segmenting by math, aua aum account balances, those days are dead. We are now segmenting by customer behavior and by customer needs. So the Rachel's of the world who are out there clicking on websites, looking for personal loans, we can put them in a segment that looks just like that, but more so, Rachel isn't the only one. We can have a ton of people looking to do the same thing. And we can put them in groupings like this. So that way when we push the ad to her, we're pushing it in context and in a timely manner exactly when she needs it. Now, speaking of Rachel the customer, let's take a look at how this looks from her perspective. She's a millennial, so naturally she's walking around with her phone at all times, right? Flipping through her Facebook feed, and she comes across that ad that I just mentioned. Timely. She says, this is awesome. I was looking for a personal loan anyway, so let me tap into this. She sees some T's and C's. How much, how long? But before she can proceed, we need to identify if Rachel is indeed Rachel. And this, frankly, is what makes our platform our platform. The integrations with our great partners like the Anfidos of the world, Anfido can start to digitally identify Rachel by taking a picture of her license front and back. And we all know that millennials love selfies, right? They have sticks, for crying out loud. But this is more than that. This is liveness, facial dimensions, verbalization 487. You couple this with Anfido's OCR technology and their deep machine learning, you bounce this against their backend database and bingo, just like that, we've digitally identified Rachel. Oh, and as a bonus, we took the attributes from that onboarding and we put it in the app so she wouldn't have to rekey this information. She is blown away. Cumulus bank is the real deal. They are legit. So now let's take a look at what this feels like from Victor's perspective. The Cumulus Banker, he logs in, he starts his day and he logs in into the financial services cloud. And the first thing that pops is the opportunity that just came in from Rachel. And it gives him proof because his personal data scientist, Einstein is telling him why this deal is at the top of the heap. And it's actionable. He can send her an email. But you know what, he wants to give her that personal touch. So he's going to go ahead and make a phone call. Rachel can't believe it. Within minutes she got a phone call from the banker. Because nothing falls through the cracks here at Cumulus Bank. And Rachel says, you know what, I'm in the neighborhood, Victor, I'm going to come in and and see you. And she does just that. So let's fast forward a couple hours in time. And now she's sitting in front of Victor. And Victor can start to kick off that origination process because of another integration with one of our incredible partners, Encino, the great banking operating system that is Encino. You should know that encino is built 100% natively on the Salesforce platform, which is going to save Victor a ton of time. He doesn't have to swivel chair between different systems or different apps. And now it's fully integrated within financial services cloud, so he can do so right from here, including automating and expediting core banking elements like underwriting, processing all the financial analysis. And we're fully integrated with third party credit agencies. So we have her FICO score instantly, her debt to income ratio. So as a banker, I see this and I say this is copacetic. Move on to the decisioning process and this is where we can get your bank's risk policies to see if we have any exceptions. And we can take a Look at this data and say, you know what? Everything still looks good. We have no exceptions against our risk policies. Let's continue to the offers. And with Rachel sitting in front of me, I can spin that monitor around, show her all the offers and she can select the one that best suits her needs. And then the last piece of the puzzle is electronically starting the documentation process right from Encino. These documents are going to be generated for Rachel to sign on the line that is dotted. And if she wasn't sitting in front of me, that's okay. We'll send these to her electronically and she can return them to us via DocuSign. And as painless as that, we've completed the whole origination process with Encino. So let's recap what we just saw and my friend Matt Cameron back there and I just showed you. We identified a customer need without even knowing who that customer was to begin with, number one. Number two, we digitally identified that customer via the great platform that is on fido. Number three, we did a product fulfillment origination onboarding with the incredible banking operating system that is in Cino. And we did all this on one fully integrated endtoend platform that is the financial services cloud. So thank you very much for your attention. I'd like to turn it back to Rohit.

Crush that demo. John. Awesome. You know, during the demo you saw John bring to life the power of this ecosystem. And I encourage anyone and everyone to head over to the Intercontinental after the session. Check out our industry zone, get hands on with these partners. We got so many of them there showing really, really cool demos. What I want to do now though is I want to invite up the CEO of Encino to come up on stage to talk a few things through with us. So let's give a big round of applause for Pierre Naud.

Robbie, that was pretty cool, wasn't it?

It's pretty cool, right?

Yes.

That's a demo.

You bet. That's the real software. Let me correct you. Yeah, we never demo demo software. We only show real software in production. So it was pretty cool.

Love it. Pierre, I've known you for, God, I don't know, five plus years. We've been speaking for many years about our vision strategy. You've told me about Encino from Dan, so I know Encino. These guys have seen the demo of Encino, but you could you level set, you know what is Encino, how you got the start.

You know, I think what you've seen there is really because of the way we were born, the way the company was Started was out of a bank. There's a bank in North Carolina, Live Oak bank, who actually makes loans on a national basis. And they quickly realized that how do you take the banking processes out to the borrower and to your people in the field, make it mobile enabled and actually drive those processes in a very efficient way out to where you need it. Banking, anywhere, anytime, speed and convenience with compliance. And so they tried every other solution and finally stumbled across the Force.com platform. They built it in house for themselves and then realized one day and Tripp Mayan is a great entrepreneur, we can start a company and do this and actually change the way the banks operate. And that's how the company started and that's why we're in Wilmington, North Carolina.

Yeah. Pierre, something we've talked a lot about is this idea of digital and why it's so important across financial services. Can you share your thoughts on why digital is the thing to do right now?

You know, it's all about customer expectations. If you look at your clients today, they are used to buying online, they buy from Amazon, they get recommendations right there on the store spot. It actually lend their Persona. It make credible recommendations that actually fit their lifestyle or based on life events. And in banking we have to actually catch up with that whole phenomena in the world and customer expectations drive their behavior. So I believe in the end what we have to do is not only serve them better with a frictionless experience, we actually should become predictive. You should understand their life events and then make recommendations to help solve them, their problems and their life needs as opposed to selling them products. And once you treat your client like that, you'll find them embracing your institution as a holistic financial institution as opposed to a bank.

I want to talk about the product for a second. You know, you work with banks of all different sizes all around the world. How is Encino helping these banks unlock their competitive advantage?

You know, when you look at the behavior of a client, whether it's a large corporation or individual, as a retail customer, in the end, speed and convenience is what Trump's price. So if I can drive speed and convenience down to my customer interaction and actually make it a seamless experience, I may be able to charge more. Because a borrower only have two things in mind. Am I approved and when can I get the money? And once you satisfy those, you provide more value. And so what we're seeing in the market is we're cleaning up all the backend processes, provide that speed and convenience with a very important factor which is to stay Compliant, because, you know, banking is a regulated industry. And so we have to ensure, as we empower the banking employees to do this is to stay compliant, stay within the guardrails, and that makes the bank presidents sleep better. And we actually feel that we've uplifted our employees to do the things that's important, which is customer interaction.

It's been a lot stuff going on the past few months for us. Right. There's been a lot going on from a product side, the partnership side. What is getting you excited about what we're doing together and building this larger ecosystem out?

You know, what I'm beginning to see is how this vision is coming together, where we're taking financial services, cloud and the customer interaction, linking that to the backend processes. But that to me is like cleaning up the kitchen. So we've got that in place now. Now it's about the vision of how we take this forward. And the forward movement is all about data and intelligence, predictive analytics, so we can understand what products to offer to what customers. So Einstein is going to be critical to our future as we go. We are a pure platform play. And as we drive this forward, we will extend into every nook and cranny Salesforce can offer us to build on, because our quest really is to transform financial services through innovation, reputation, and speed.

Pierre, I just want to say thank you for everything you're doing for us as a partnership for the industry overall. Big round of applause for Pierre.

Thank you, man.

Found it out. There we go. So I've got to say one thing that I love about being in this industry is that we're more than just making money, returning alpha. We're also about having impact and giving back to everyone. This is something that we share at Salesforce. You know, at Salesforce, we call it our one, one, one model where we give 1% of our employee time, 1% of our equity and 1% of our product to nonprofits. And luckily enough, there's a lot of innovation going on with nonprofits in the financial services space. And today we're lucky enough to have one of those innovators here with us who's not only a great nonprofit, but is actually doing incredible things in the overall fintech space. So help me invite up the president and co founder of kiva.org to the stage. Parmel Shah. How you doing? Thank you for being here, sir. So can you tell us a little bit about Kiva and more importantly, the mission that you're on with Kiva.

Sure. So the mission of Kiva is To connect people through lending to alleviate poverty. And the way we do that is we operate a website. And on this website you can come and sift through profiles of low income entrepreneurs. Maybe a woman in Kenya who wants to buy a cow, maybe, you know, to start a dairy business, and then you and, you know, the rest of the Internet community can help crowdfund her loan. And so what's interesting about Kiva is that you get a personal connection with who you're helping and then there's a repayment that comes back. So as she's able to sell milk, she can repay that loan and then you can turn around and withdraw your money or recycle that money and help another low income entrepreneur.

Wow.

It's really cool. I remember when we were speaking last week, you were telling me about the impact that you've had over the years. Can you share with us the impact you've had at Kiva so far?

Sure. So, you know, the Internet community, citizen lenders have now lent over a billion dollars to support 2.5 million low income entrepreneurs in over 80 countries. And three out of four of the businesses are run by women. And there's a 96% repayment rate on the website.

What was that number again? A billion dollars?

Yeah. Over a billion dollars from 1.5 million citizen lenders.

Unbelievable. Wow. Now, you also told me that you don't have a huge tech team, a bunch of guys building this, so how are you scaling to have this type of impact?

Sure. So, you know, we constantly, I think any organization, but particularly nonprofit organizations, feel like you are always kind of punching above your weight class. And, you know, there's, you know, people are so passionate about the mission. We could not have this reach without technology. And from day one, you know, when we started working with an Excel spreadsheet and email and it's just a group of volunteers, you know, that felt like the scalable approach. But then as things started, you know, taking off, we realized that that was going to just break down for us. And luckily, because Salesforce is so active in the nonprofit community, you know, we became aware of the offering and have built. You know, it was so easy to use from, you know, kind of day two when we realized we needed it, and then starting adding on a number of extensions that allow for a distributed set of people around the world to contribute and do all that workflow management. So technology has, you know, simply allowed us to scale in a way that there's just no way with a group of a few staff that we could have ever reached These folks, yeah, it's.

Unbelievable how you're using technology. You know, when you see what's happening today with all this cool tech that's out there, how do you see the current day technology helping you scale the impact even further?

Sure. So, you know, we talk about innovation a lot, and in my mind, innovation is about discovering and meeting true human needs. And in financial services today, you know, abroad, if you're financially excluded, which is 2 billion adults on the planet, if you want to get a loan, you're paying 80 to 300% with that informal money lender, the village money lender. It's super expensive. And here in the United States, the financially excluded pay 10 cents for every dollar they earn on financial services fees, which is about the same expenditure of food. So to be excluded or to be poor is expensive. And one thing I think we can all do, particularly as we have these incredible tools with technology that reduces our marginal cost to serve people, is to actually reach folks who are financially excluded and really bring down their cost of opportunity. So whether it's access to loan or access to index crop insurance, or even just a safe place to save, there's an incredible opportunity right now, I think, to actually spread this across the entire planet and, you know, bring down the cost in a way that, you know, we, you know, I believe we are in a historic home stretch to end severe poverty in our lifetime. I think that's very possible.

Very cool. You know, I think we should honestly take advantage of the fact that we've got a lot of people in the room here, even more online, and we need to help you have impact right now, right here, today. What do you think?

Yeah, I'd love that.

Here's what we're gonna do. I want everyone to go into your pocket, I want you to pull out your phone, unlock it, get it ready, and I want you to do two really simple basic steps where we're gonna be part of this Kiva revolution and we're all gonna give back. Right here. Want you to text from Kiva K I V A to 56237. Give you a second again, that's Kiva to 56237. When you do that, you're going to get a link back in a few seconds. And what that link will do is it'll direct you to akiva.org login page where it's just going to take you a few seconds to create a Kiva account. And for the first 240 people that do this, you're going to see something special in your account. And we're going to seed Your account with $25 so you can be part of this incredible movement that Premal and team are doing at Kiva. Come on, what do you think? Let's do it. Will that help out? What do you think?

It'll help out tremendously.

Cool. Well, Premal, listen, I just want to thank you for everything that you're doing, everything you're doing. And at Kiva, for the industry, for people around the world, big round of applause for Premal. Thank you for being here. So, unfortunately, this brings us to the end of our session here today, but it's not going to be the end of us conversing and talking. So what we can do is a few simple things first. We're all going to be here right after the session. You got questions you want to talk things through. Grab any of us. I encourage everyone to jump on Trailhead to check out the trails that we've got in financial services and with financial services cloud, just learn more of what we're doing. Also, if you want to learn more about this new product, we have financial services cloud for retail banking. We're going to head over to the Intercontinental right from here at 1 o'.

Clock.

We've got an awesome session and my last ask of everyone is please jump on the Dreamforce event site, log in there and give us feedback on the session. This is all about us giving you what you need and we want to make sure we're refining it and getting better and better. And last thing is, I want to end where we started. And that is a big thank you to everyone. And remember, don't forget, text KIVA to 56237. Thank you and have a great Dreamforce.