Financial Services Keynote: Unify The Experience, Unlock Loyalty | Salesforce

Ladies and gentlemen, we are excited to.

Share the latest Salesforce innovations with you. Which means we may talk about future.

Looking products and services. Because future looking statements are inherently subject to risk and uncertainty, our reminder is.

That you should make any purchasing or.

Investment decisions based on products that are currently commercially available.

Think about what we sell as an organization.

We sell a promise.

That's what we sell. We promise you that we will be.

There in your time of need. And for a promise to work, there has to be trust.

Customer expectations are changing exponentially.

Our customers expect us to be what.

They want, where they want, when they.

Want us, and they expect us to know them at every point in our journey with them.

They want the experience to be easy, seamless and personalized to them.

Less than 10% of our clients use our full suite of products and services, so our ability to get to clients faster is going to drive our growth. We are commercial creatures. We are intending to be profitable, but.

We also want to fundamentally change the.

Way the industry works.

You are dedicated to innovate. You are dedicated to think about the future.

If you don't do that, I don't think you are successful within the company.

Innovation is table stakes in the new world of financial services. No longer can we expect to be second or third to market and expect to gain market share, or more importantly, to gain our customers loyalty. So begin with the notion of we.

Have a connected world.

Cognitive capabilities, machine learning, artificial intelligence, natural.

Language processing, the Internet of things, sensors.

Biometrics, all of these have the potential to actually transform the customer experience like never before. What we hope technology does is remove so much of the daily burden that.

Allows us to be freer, more empathetic.

Human beings, allow us to have more time to connect with people on a.

Real level, to talk about what really matters to people.

Our relationship managers need to take full advantage of technology and that's where we think Salesforce can add the greatest value to us. If you're gonna change the world, you.

Have to do it with a group.

Of people who share a similar lens on the world. Salesforce brings the learnings from the various industries and enables us to think differently about our business processes as well as our technology solutions.

Salesforce pushes our thinking in so many ways.

We make each other better than we would be if we didn't have a relationship.

My expectation is that Salesforce will help us ensure we're developing innovative sol that not only keep us current, but also help us create the capabilities that we know we will need in the future. This is the time to be in financial services, there is so much opportunity for all of us, everyone in this room. When you think of what's going on in the industry, just think of the impact of innovation and what that means across financial services, the disruption that's going on across industry, the overall pace of change, it's unbelievable. But we also know with all this opportunity come some challenges, come some headwinds, and it could be difficult to figure out how do you respond, how do you react to all this change? And this is some stuff that we're going to tackle head on in this keynote today. We're going to talk it through. We've actually been speaking with customers for over the last year and we ourselves have been digging in deep in these ideas and we feel we've got a better path forward. So I'm really looking forward to walking everyone through that today. Before I get started, I want to thank everyone that's been working with us over the last year as we've been formulating our ideas. But actually I want to thank everyone over the last five plus years as we've been building this industry strategy. It's just been unbelievable to get so much feedback from everyone. And I feel we're incredibly fortunate at Salesforce to have customers that represent the entire spectrum of financial services firms of all different sizes, of all different geographies and locations around the world. And whether it's a consumer bank, all the way through to the other extreme of the institutional side, we're constantly listening and learning from all of you. But what we're also doing is we're looking at what the market makers are doing outside of our industry and we're learning from them. And here's what we're seeing. We're seeing that the fourth Industrial revolution is just as important in our industry as it is outside of our industry. Think about connected cars. Everyone talks about that as a game changer in the automotive space. It's just as important to, to insurance carriers and it's providing them such incredible real time data where they can better assess risk and even premiums and pricing that they want to put out there. Think about what's going on with industry convergence, invisible finance. I think it's one of the coolest things that's happening right now where banking capabilities are being fused directly into the retail shopping experience. Now with one, one tap, one click, you can make a payment, you could get access to capital, you can even buy warranties. There's so many different things that you can do. And the reality is, I'm not talking three, five years out. These capabilities are here right now. And there's leaders that are delivering on the promises that customers are expecting. What are they delivering on? Three important things. Trust, transparency and convenience. And these experiences are just as relevant on the business financial needs side as they are on the personal financial need side. Let's start with the personal side. This is something everyone understands right away or gets. Let's talk about WeChat. We all know WeChat, this incredible messaging platform. A billion plus users. The users love it. They're on that platform 10 plus times a day. But they're also nailing this idea of convenience where they've taken financial services capabilities and brought them directly into the platform. And I'm not just talking about payments here. They've made it easy to get a loan, easy to interact with an insurance carrier to get quotes. They've even brought wealth management capabilities in where you can start investing in products and funds all directly within their platform. But that same experience or expectation is just as relevant on the business needs side. Let's talk about Amazon, not the Amazon that all of us know. Think of the Amazon that the merchants experience. Listen to this stat. In the last year, Amazon issued over a billion dollars of loans to 20 plus thousand merchants. Should make sure everyone heard that stat. A billion dollars of loans to 20 plus thousand merchants. And those merchants are loving it. As their businesses are growing, they're coming back for more and more capital from Amazon. And when I spend time speaking with customers about this, they're trying to wrestle with how do they respond? What do they do? Is there things that we can do to help? What I've started realizing is, and what we've all started realizing is there's decades of complexity that we're dealing with in this industry. And these decades of complexity is really driving down the innovation, slowing down the transformation. Whether this has come from mergers, acquisitions over the years, or just organic growth. I refer to this as an industry spaghetti. I'm seeing a lot of head nods in the room here. So you probably have similar architecture diagrams or slide that looks like this, or you've got your own spaghetti in your organization and no one likes this type of spaghetti. We could probably talk about this for an hour, two hours, have a whole track around these types of complexities, but you don't want to hear about that. What you really want to hear about are the solutions, the path forward, or thoughts on how we can help you solve this. And the way that we think about this is that it's a journey. And it's a journey that we're on with you. And it's a journey to unified financial services. Let me talk you through what that means to any of your customers. Here's what it means. It's very possible one day you can have a customer who's a consumer banking customer, the next day a business owner. Very soon after, a thriving business owner. And their need for financial services rapidly grow and become much more complex. But here's actually what they're really looking for. They're looking for someone who's supporting them both on their personal and business financial journey in life. And this is one of the driving forces behind why we decided to build financial services cloud. And when we launched in 2016, we went right after the high touch relationship management space, the wealth management space. We very quickly then moved into retail banking, more recently into an insurance. And as you can imagine, we're clearly not stopping there. We want to provide these same capabilities across the entire spectrum of financial services and help you get to the unified capabilities. I want to just pause on this for a second and I want to say a massive thank you to everyone that's helped us over the past few years as we've built this strategy out. The momentum has been just unbelievable. We have over 400 customers, one of the fastest growing clouds into the history of the company. And I really say this is because of everyone that's really leaned in and helped us out over the years. Here's another way to think about financial services cloud. You can think it about. You can think about it as your industry bridge. We're the bridge that's helping you get to these unified capabilities fast. I think that's the important thing. We need to get there fast. And this is something we're deeply thinking about. We're also at the core helping you straighten that crazy spaghetti out in your organization. How are we able to do this fast? We're built directly on the customer success platform. And that's allowed us, since we launched, to deliver solutions across that entire spectrum of financial services incredibly quickly. For example, in the wealth management space, we've rethought the way a financial advisor not only looks at their book of business, but how they interact with clients. In insurance, we're rethinking the way that carriers interact with policyholders from a servicing standpoint in the institutional banking and market space, helping firms collaborate at the speed of the markets and at the center. The core of all these solutions is financial services cloud. So let's do this. Let's take a step back. Let me walk you through what financial services Cloud exactly is and where it fits into the platform. Here's a great start. First, it was built with intention to be directly built on top of the customer success platform. Like I just mentioned, what we're doing is we're extending the core capabilities in sales and service and providing you out of the box industry specific configurations, such as a standardized industry data model. A consistent way to look at a customer relationship, whether it's on the B2C side or the B2B side. A consistent way to look at financial accounts. This is what I mean by building you that industry bridge. But on top of this, we're also working with the leading fintech providers in each sub vertical of the industry and we're partnering with them so we can take their capabilities and bring them directly into financial services cloud so you can execute on your unified desktop for all of your internal employees. And when I walk customers through this, they love it. They start seeing how we can straighten out their spaghetti and get them on this unified journey faster. But they always ask for more. What we've been hearing over the last 18 months is they not only want us to help them on the sales side and the teaming side, but help them do it in a safe and compliant way. So something I'm incredibly excited about, and I hope everyone else is going to be excited about this, is we're doubling down on the idea that we're going to build the Agile platform for regulatory and compliance. And this is something that we're seeing needed across the entire world. For example, in Europe, with everything going on with gdpr, we're helping firms capture consent and add that directly into the profile of the customer. In the us, we're helping banks get ready for sales practices. We're also helping institutions in Australia get ready for the Royal Commission. And this is just a glimpse into what we're doing. We're going to keep coming back to more of you for your insights and your feedback to make sure we're just knocking this one out of the park. So what are we going to cover next in the keynote? We've got some really exciting things. First, we're going to go deep into financial services cloud, walk you through the latest innovation. We're then going to shine a spotlight on two incredible customer stories. Bbva, State Farm. But to get things started, I want to invite up some to the stage. Who's been with me from day one when financial services cloud was just an idea on a whiteboard? Round of applause for Charlie Richie.

All right, good morning everybody. I'm going to start with A thanks as well. Thank you to all of our customers. Thank you for your trust, your investment, your partnership, but most importantly, thank you for your feedback. There's nothing worse in software development than building something in a silo and throwing it over the fence and hoping people are going to like it. We haven't had to do that because you guys are quite vocal in telling us what you think we should be doing with our latest round of innovation. So honestly, thank you for that. Rohit talked about the importance of unifying the experience internally as well as delivering convenience to customers externally. And again, it's thanks to your feedback that that's exactly where we've been focusing on with this latest round of innovation. So let's have a look. So, first, on the side of unifying the experience, last year, many of you might remember that we made a lot of noise announcing our extension of the financial services cloud into retail banking, along with an intelligent referral management capability. All to incredible success. Again thanks to all of you. But we kept hearing that from customers. Hey, why can't we use all this incredible innovation from the financial services cloud over in our business and commercial bank? That's the first thing. The second thing is, as we continue to extend this unified vision, it became more and more apparent that financial institutions were struggling to deliver consistent customer engagements or experiences in a compliant and regulatory way. So that's why I'm excited to announce that in winter 19, a couple weeks away, we're releasing a new commercial banking app with the financial services cloud. That's everything from the financial services cloud working in the context of your business accounts so that our customers can start deepening relationships with their customers personal and professional lives. In addition, we're including action plans. Action plans so that your bankers, your insurance agents, your advisors can start with driving, building and leveraging repeatable templates of tasks to drive those customer engagements across, whether it be sales and service in a compliant way, all the way through onboarding. And we're really excited to see how customers are going to start leveraging that. Now over to the delivering convenience side of things. We know that we're living in a world where one or two unhappy customer interactions can drive them to the competition. So we're really excited to include financial services cloud surveys. In winter 19, every financial services cloud org is going to get five creator licenses so you can start building and branding customer surveys right within the financial services cloud to start capturing those rolling CSAT scores. Additionally, we're bringing Einstein Bots for financial services cloud. So Salesforce recently announced Einstein Bots and this is our first foray into that direction. We're starting with retail banking. Two of the most commonly the two most common service inquiries that we were hearing was notification of lost card or that you're doing international travel. We are releasing prepackaged Einstein bots for financial services cloud there so you can accelerate your Einstein bots deployment and start deflecting those calls from your call center. Now there's a tiny bit of space left on this slide, so there's one more thing. So I personally believe that this race to digital that we've all been experiencing the past decade plus has left those high value interactions in the dust. We've seen that financial institutions are struggling to figure out where to place those person to person interactions. And that's why I am personally extremely excited to announce, coming in spring 19, the Lightning scheduler built natively on the platform inside of the financial services cloud, a precision scheduling experience so that our customers can embed seamlessly those high value interactions in any standard salesforce workflow, whether it be leads, referrals, opportunities, onboarding, quarterly reviews. Automate the scheduling experience to remove the human element that usually gets in the way of that. Really, really exciting. We're also doing more than that. We're looking deeper into the platform. We're digging deeper than ever before and we're looking at how we're going to be leveraging Einstein next best action to help our customers, all of you, take the onus off of your bankers, your insurance agents, your advisors to know precisely what they should be proposing next with Einstein next best action. Additionally, we're reaching in and doubling down on Einstein Analytics. We're going to have a whole new wave of Einstein analytics for financial services cloud. First up, coming in Spring 19, the next release will be a pre built, purpose built, industry specific Einstein analytics dashboard for financial advisors. And after that we'll have retail banking, commercial banking and insurance and so on. And finally, we heard Rohit talk about industry spaghetti. We know that our ability to drive intelligent, unified experiences is only going to be as good as the data that's driving them. And so that's why I'm extremely excited that Mulesoft is now a part of our arsenal. So we're going to go and help you straighten out that industry spaghetti. We're looking at connectors for things like banking cores, custodial data and so on. Going to be really, really exciting. And we're not doing this alone. Ro had already talked about our partner ecosystem. We've been unifying this ecosystem of leading fintechs developers, great companies. So I want to thank you, all of you partners, if you're out there to helping us get to this point today. But I'm also really excited to introduce a whole new group of ecosystem partners across every segment in financial services. Starting and lending with Blend and Roostify, onto wealth management with Jemstep and eMoney and insurance with great new partnership with Guidewire and Velocity and of course in banking with Precision Lender and Finzact and Finergo. So that's a long list of innovations. I hope you think it's a lot. We've been working hard with all of you. You've been participating in this whole endeavor, but it's going to be much better brought to life with customer stories. And to tee that up, I'm going to hand it back over to Rohit.

Just incredible work, Charlie. So big shout out to you and the entire team for what you've been building. It's just awesome. We're going to switch gears here and we're going to talk about customers. And the first customer that we're going to talk about is bbva. Incredible global bank servicing customers all around the world. And they are nailing this idea of why unified capabilities are so important to their customers. We are actually, if I'm looking in the right direction, we've got about 50 BBAers right there. So big shout out to everyone from BBA for the great work you're doing. And we were really lucky. A few months ago we spent some time with the executive team in Madrid to learn more about their vision, their journey and I want to share it with you. So let's roll the BVA film.

Today we are in an age of opportunity, mostly because of technology. And BVVA's purpose is to bring the age of opportunity to everyone.

We have three values. The first is that all the decisions that we make is around the customer. The second one is the ambition that we have. And the third one is that we.

Have to work as a team.

That means that we enable our customers to reach their life goals and live the life they want to. Financial services are undergoing a massive change, starting with the way customers interact with the bank.

One of our objectives is to unify the client experience. That means across products, across channels and across geographies.

Salesforce is a tremendous catalyst for innovation.

Which is critical for our business.

We're transforming our technology stack, moving it to the cloud and also incorporating in that platform the best of breed of solutions.

One of our goals is to see the customer as the customer at this.

Moment in time wants convenience Marketing Cloud.

With Salesforce, what we are trying to put is all the data together to drive actionable insights that can help our customers make better decisions for their life, for their business without needing to come to a branch.

That is why we have more than.

90% of the services through the app.

We think big.

We put the customer at the center of all the decisions we make in order to improve their lives in the day to day and also in the important decisions. BBBA for sure is part of the family.

Beyond that the trust that customers have in bbba partnering with third parties like Salesforce, we can have access to creating opportunities, providing peace of mind, helping our customers make better decisions. We aspire to help them fulfill their life.

And to walk us through the BVA demo. Vicki Linter.

Thanks Rohit. So money, it's one of the leading causes of stress and that means all of us in this room working in financial services, we have the potential to have the most profound impact on people's lives if we get it right. And one of the companies that is getting it right is bbva. Now of course, it wouldn't be Dreamforce without a live demo. And my co pilot today is the amazing Matt Cameron over there. And we would both like to, We'd both like to thank BBVA so much for letting us share your vision of working together as a team to help their customers to achieve their life goals and live the lives that they want to live. So let's dive straight in. Our main protagonist today is Alejandro Martin. Now, he's just taken on ownership of the family business and it's a small olive oil company. But he has big plans. He wants to take it international, starting with Mexico. He's put aside some funds, but he's just had some wonderful news. His wife is expecting their first baby. He's delighted, but he knows he's going to need to put some money away for this big project. So he does what all of us do nowadays. He takes out his mobile device. He logs into his mobile banking app and he transfers some funds. So far, so standard. But when he returns to his homepage, he's prompted with an advert for private banking. Now, this smart interaction has been automatically triggered because the balance in his account exceeded a certain threshold. It's perfect timing. So he clicks in to go through and apply. Now it's all going through nicely, but then he sees he has to schedule a one to one meeting with a private banker. He rolls his eyes. This is where it gets difficult, right? He's going to have to get on the phone, email, phone tag, trying to organize that meeting. But then he sees that using Lightning Scheduler, he can schedule an appointment directly within the mobile app. And it's smart enough to recommend that Santi would be the best advisor for him to speak to. And it knows all of the times when Santi's available. So he can just click straight in there, book an appointment at his convenience, and it's all done, easy as that. No more telephone tag. Now over on Santi's desktop when that application goes in, what's been created behind the scenes is an action plan. Now, Santi loves the action plans because it's takes care of all of the tasks in any given business process, not just onboarding you think about in your own lives, right? We've all had to herd those cats trying to get your colleagues to give you status updates and chasing down the paper. Those days are over. Here he can clearly see that some tasks have already been assigned out to his other associates. Some tasks are mandatory, regulatory and compliance, usually like GDPR for example. And one of the tasks there, the setting up the financial planning session, that's already been completed. Because Alejandro did that on his mobile app. It's the same business process, whether it's internal tasks or external tasks. This frees up Santi's time to really prepare for that one to one meeting. Now let's fast forward in time to the meeting. And they're having a conversation. And Santi discovers a couple of things about Alejandro's goals. He finds out about the baby, but he also finds out that due to this change in personal circumstances, Alejandro's not sure he's going to be able to go ahead with the business expansion he was hoping. Now Santi wants to help. But he's a private banker. This isn't his area of expertise. Hmm. Hey Matt, this sounds like something that the commercial banking division could help with. But how can Santi join up the dots?

Hey Vicky, that is a great idea. Why don't we create a business referral in financial services cloud?

Wow, that's fantastic. So Santi can create a business referral directly in fsc. He doesn't need to know who to route it to because FSC is going to take care of all of that. So that's the commercial goal. That's great. So let's go back to the personal goal, the baby. Because Alejandro has already given his consent, Santi can place him on a journey. Now, BBVA have built about 170 of these journeys to deliver one to one personalized messaging at scale across any channel, using data. They're dynamically driven by what we know about the customer. So what this means is the customer gets the right message at the right time on the right channel. So for Alejandro, back on his mobile device at around 10 in the evening, when we know he happens to be most responsive to messages, he receives a prompt to check out the baby planner so he can sit on the sofa with his wife and go through and see all of the commitments they're going to be committed to. And this is fantastic. And when it's followed immediately afterwards by a survey, he doesn't hesitate to give full marks. Now, what's interesting is because it's on fsc, all of that survey data flows straight through, which can then refine those journeys, ensuring that we're doing more of what a customer values and less of what they don't value. But also that data is all flowing through to Santi's manager, Clara, and on her desktop, she can see all of the performance of her team of CSAT by a relationship manager. So she's able to easily see who are the top performers, maybe just give them a simple thank you, maybe ask them to share their expertise and best practices at the next team meeting. So it looks like the personal banking side is all under control. But what happened to that commercial referral? Well, that was automatically routed over to Mildred in Bancomer, the Mexican division. And she's received that referral because she's had great success in the past in working on international expansions of Spanish companies. Einstein Insights has popped it right to the top of her to do list. There's a really hot lead for her there, and with one click, she can drill straight in and see all of the information she needs about Oli Mesa, the company and Santi. She can see, powered by mulesoft, an aggregated view of all of the financial accounts and holdings that we have with that company. She can also see that there's an unused line of credit there. That's interesting. Right. For this project here, she can also go in and look at the relationship map and check out whether or not she knows the legal company, for example, that Olymesa used. And it turns out that she's worked with these guys before on an international expansion. Now, using all of these insights, she's able to put together a really compelling business proposal, totally personalized for Olymesa and Alejandro. When she sends it over to Alejandro, he is impressed. He has had a completely unified experience here across products, across channels, even across geographies. And when it Came down to it, he hasn't had to choose between expanding his business or expanding his family. With the help from bbva, he's been able to do both. Back to you. Rahat.

Incredible demo, Vicki. Thanks for walking us through that. And now we're fortunate enough to have Derek White from BBVA who's going to join us up on stage. Round of applause for Derek.

Thank you.

Rohit, how's it going?

Great, thank you. It's incredible to see the array of products that you guys are developing. It's almost. What isn't Salesforce doing today?

Yeah, that's a great point. And your first Dreamforce. So you're gonna even.

This is my first Dreamforce, Yes. Thank you. It's a privilege to be here.

So we were talking earlier about data, right? I think this is a hot topic in industry overall, but specifically in the banking side because you've never been at a loss of data. You've always had so much data for years, but now you almost have an explosion when you think about just customer sharing data. When Vicki was talking about journeys, you've even got more data because of journeys. Can you share a little bit your thoughts on how do you a just harness and get data together and then make it actionable or usable for both employees and customers?

Yeah, sure. Within bbva, we're very fortunate that we have a chairman that started his career as a programmer, a CEO who's a double MIT engineer, and they understand the importance of having clean, pure technology as a foundation for the company because the technology allows us the ability to capture the data. And the data is driven by the human interactions that we have. The combination of the human interactions coupled with the technology allows us to make the data driven from the increasing interactions that our customers are having with us to make those make it actual actionable insights that mean something to the customer. Because data for the sake of data trapped in technology systems is useless. But taking that data and incorporating it into the way that we actually create the future of the company, what we refer to as our creation model is key. So go with me a minute. Just back to Spain. So in the video you saw a mention of Valora. So just imagine you're walking around the beautiful streets of Madrid and you're fascinated and you walk into the beautiful Plaza Mayor at one of the classic European courtyards, and as you're there, you think, wow, wouldn't it be great to have a place here in Spain? I wonder what it costs to be able to afford a place in Plaza Mayor. So instead of what used to be 10 potential experiences searching for the property, determining affordability. Now, with the augmented reality in our BBVA Valora application, you simply hold the phone up and move around the courtyard. And by looking around Plaza Mayor, you're able to see not only which apartments are available, what the list price is, what the potential actual value of that property is, what the reformation costs might be, what your affordability might be, and community data. All of that unlocked in what we refer to as 10x experiences. That is the power of data brought into one experience for the customer, instead of them having 10 indiscreet separate experiences.

I want to talk about experience for a little bit more because I think this is unique because you're serving customers all around the world that have got various expectations based on what's going on in their market and their familiarity with technology and everything. Why is the focus on experience so important to what you're saying?

Well, the focus on experience is absolutely vital because we're seeing a fundamental shift in the way customers are interacting with us. You mentioned this and we also saw it in some of the videos. One of the ways of looking at that is what we refer to as the 1033,000 model, and that is today, the average customer in any financial institution may walk into a bank branch 10 times a year. They may be engaging through their mobile application 300 times per year, but they're engaging in the wechats of the world, as you mentioned, 3,000 plus times a year to 5,000 times a year. And that's 6.8 hours a day at current time. So what's important is if you're operating a business that was in the analog world at 10 visits per year, and you're competing against somebody that's interacting 3,000 times a year, then it's a fundamentally different model. And the experience for us comes back to understanding how those customer interactions are changing the trends associated with it. And right at the core for us is this principle that we call do it yourself or diy. If you talk to anybody within bbva, they will tell you that the core principle for our digital transformation from an analog bank into a digital bank, and this is the year we tip into a fifth across our tipping point to become a digital bank, over 50% of our customers interacting with us on our digital platforms, and we move from a digital bank then into a digital company, and as you move from a digital bank into a digital company is fundamentally different. And then you start talking, how do you operate as a digital company in a decentralized economy? And then we start to really get into the future.

Well, let's actually end on that question because you're poking at something that's interesting because you guys are ready at kind of the cutting edge of what you're doing. These incredible experiences. You're even kind of poking at what's coming down the road a couple years out. When you think of the BBA strategy, five, six plus years out, where's your head at? Where do you see banking going?

Fascinating question. So two and a half years ago, we as a company were selling single digits of products digitally, around 10% of our products. Today, over 42% of our products are sold digitally through customers interacting on this platform. 100% DIY above the glass. Now, the future business model for any financial institution. And as we meet with clients across every industry, there are a couple of key principles that I would say suggest are essential for the future of banking and any industry. Number one is that everything has to be 100% DIY. Customers have to be able to operate in the operating model where they are the only human above the glass. The second is they have to be smart. There has to be an infusion of data that creates these 10x amazing experiences. It's no longer sufficient to simply make it possible to do things on digital. They have to be amazing. And then once they are digital and DIY and once they are smart and amazing, then we start to build trust with our customers. As our customers trust us, then they will consent to share more of their life with us and we can help them more with this stress that was referenced earlier. And as we help them with their stress, then we start to get into the levels of autonomy as to how autonomous a bank account truly can be in the future. You referenced the car industry and the potential five levels of autonomy. Banking is reaching into that world as well. As we start to explore how truly self driven a bank and how self driven a bank account can be for our customers.

Awesome. Those are actually incredible takeaways for everyone in the room here because that's not just banking examples, that's relevant, I think for everyone in Finserve. So Derek, thanks for flying over here from Spain. I really appreciate it and thanks for sharing your story with us on stage here. Thank you. Now the next customer we're going to talk about is State Farm. And State Farm is the largest insurance carrier in the US with focus on personal line insurance. And they've got an incredible vision for what their policyholders need. And what they know is their policyholders are not just looking for great service. They're looking for convenience. They're looking for personalization. There's incredible data out there that backs us up. Most importantly, I actually can vouch for this. I've been a State Farm customer my entire life. My entire family has been both on the personal, professional side. They've always had our back. And we've been really fortunate to be working with State Farm for many years now on this vision. And we are incredibly excited to share this vision with you. And to do that, I want to invite up to the stage Aaron Argos, who's going to walk us through it.

Hello. We're going to have some fun for the next six minutes. Everybody always thinks I'm going to have some jokes. All right, before I get started, I would like to introduce the talented Jennifer Brooks, who's going to be driving the demo. Welcome. Now, I just want to make one small correction because I'm not going to be Aaron for the next six minutes. I'm going to be Julie, our State Farm policyholder. And I'm going to show you how State Farm helps my life go right. Because I can tell you this morning, my life did not go right. I was doing a couple errands before coming here, and I was backing out of my car park and I hit a pole. It was quite embarrassing. And actually what I told my husband was that the pole jumped out of nowhere and hit me. It wasn't my fault. Right? So can you all help me keep that little secret? Everybody? Okay. All right, so what did I do? Did I call my insurance company? Did I wait on hold? No. No way. So let's head over to the mobile device and I'll show you. So State Farm makes it really convenient for me to log my claim via their State Farm mobile app. State Farm's easy to use. Chatbots present me with relevant questions based on all of the information that they know about me and my Chevy Malibu. So even though I was flustered after backing into this poll, I mean, the poll hitting me, I can answer these questions really easily because it's just based on the information that I know, like what's going on with my current situation, where the accident happened, was there anybody else involved? Right. Very straightforward. So then, now watch this, because this is where it gets interesting. I can use the app to take a photo of my car and artificial intelligence kicks in, analyzes this photo, classifies it, and then compares it to other vehicles, claims and repair costs. So immediately I'm presented with a description and a classification of the damage, as well as a repair estimate. So I Can get my car fixed pretty quick here. So now I'm ready to submit my claim so I can go and do that. And immediately I get a text message from State Farm saying my claim's being processed now over on the desktop. My claim also triggers a multi step automation marketing journey so that I'm alerted every step of the way on what's happening with my claim. And more importantly, when am I going to get my money so I can fix my car? Now, I don't know about any of you, I haven't been into very many accidents, but I can tell you I was smiling after this and that's very unusual. But it was just so easy for me to get this dealt with and move on with my day. Now, lucky for me, I have somebody else in my corner and that is my State Farm agent, Craig. Craig starts his day in financial Services Cloud on the beautiful agency homepage. Now you might be saying, why are we starting on this page? Well, this is a big deal for Craig because for the first time ever, he can see a consolidated view of his business. He can see key metrics, client interactions. He doesn't have to go to multiple systems to try and find all of this information. So right at the top here you can see his key metrics. New leads, open claims, new policies written all right here. And growing his business is really important. So front and center he's got leads and renewals and so that he doesn't miss any of this critical information. And we're also bringing in information from the call center with claims and policy changes that his customers may have called in about. And how do we do this? Well, you heard earlier, Financial Services cloud is built on top of sales and service cloud so we can bring in any interaction across any channel. Now Craig's going to spend his morning growing his business so he can go from this summarized view into a list of prioritized leads. Now check it out. Under lead scoring, we've got Einstein working away to score those leads. So Craig knows exactly who to follow up with first. He's not wasting any time. So he spends his morning doing that and he goes back to his homepage and Einstein is helping him again. Be productive. You can see by sharing actionable insights like my first notice of loss claim that I filed this morning after my accident that automatically created an agency follow up record triggered from action plans. And it's recommending that Craig call me to check in. So that's what he does. He's going to get ready for that call and we're going to See how he does that. So let's click into the record. Now he's presented with again, a beautiful screen with tons of valuable information on who I am and my history with State Farm. So a really easy to use and follow tracker of my key life events. He can also dig into my household information and see everything about my immediate household, like my spouse and my children.

Hey, Julie.

Oh, hey, Jennifer. If I go over here, I see that you own a business. Do you have coverage for that? Jennifer, is that you trying to unify my experience across both my personal and professional life? She'd be a good State Farm agent, wouldn't she? Yes, but actually that's quite a good point because I don't think about my life in silos and neither should Craig. He should see both my personal and professional my businesses all in one place. But he can find out more about me if he clicks under policies. He can see all my policy information thanks to an integration with his policy administration system. He doesn't have to go into another system to find that. All right, let's head up back to the top, because Einstein is sharing more information with Craig that he didn't know. Like next best actions with this umbrella policy. And right below that, Einstein Data Discovery has been crunching through all of this data and is sharing a score of my likelihood to buy additional products from Craig. All right, so Craig's ready to call me now. I love this part because the reality is, is that Craig has thousands of customers. I'm not his only one. But when he calls me because of all of this information, he makes me feel like his number one customer. Now, who doesn't like to feel like a number one customer? I do. And I know probably lots of you do too.

Right?

So he's ready to give me a call. And he does. And during that time, he finds out lots of information, but most importantly the fact that I'm having a baby in January. So he types that information in and watch this, because when he hits submit magic close natural language processing goes to work and updates my profile based on that information. You can see right at the top, it's tracking the fact that I'm having a baby so he doesn't have to remember next best actions now show additional products that make sense based on this new information. And right below that, Einstein Discovery score's been updated because I'm probably more likely to buy insurance now that I'm having a baby. All right, and imagine when we scale this across all State Farm agents. They don't have to worry about putting information on the policyholders page. They don't have to worry about remembering to do this. State Farm takes care of all of that. So agents like Craig can focus on what's most important, meeting the needs of their customers. Now, if you ask me, that's how you deliver convenience. Back to you, Rohit.

Thanks, Aaron. And to talk more about this incredible division at State Farm, I love to welcome up to the stage Katinka Bryson from State Farm. Thanks for being here, Katinka.

Thank you. It's wonderful to be here. Thank you.

You're pro number three.

Yes. Third time here at Dreamforce and every time seems to get better and better, more exciting. I have a better idea of now where to go and how to navigate now that I've been here for few.

Times yesterday we were talking about this concept of unification and why it's so important. It was clearly a big theme here in the keynote today. What does unified insurance, unified financial services mean to you and State Farm?

Sure. So unifying the customer experience and driving customer loyalty are at the heart of so much of what we're doing at State Farm today. Now, before I jump in and share maybe a few examples of what we're doing, I thought I might share a little bit about the State Farm because I think for some of our customers, we may not be a familiar brand. So State farm was founded 96 years ago. We're ranked number 34 on the Fortune 500. This year. We service about 83 million policies and accounts across the United States through a network. And Aaron referred to this, a network of 19,000 state farm agents that are sprinkled across the large and small communities across the country. And so I'd summarize that to share with you, Rohit, that we are big, we are old and it is complicated. And so the decades of complexity that you described earlier are very real to us. So as I share these examples of what we're doing, I would add that keep that in mind that this hasn't always been easy and it requires significant focus and commitment to making some tough decisions as we go. So the first thing we've done in the last 18 months, we launched and activated about 90,000 of our customer facing associates on the Salesforce CRM platform. A significant accomplishment. Again, many difficult decisions have to be made in order to make that happen and significant change adoption challenges had to be taken head on because as you may imagine, those 90 customer facing associates had a CRM platform in place and they were happy. Now though, after being able to get to this point and launching I would say that they now understand and see the benefits of a modern, contemporary CRM platform and what it can do for them for our customers going forward. So we're excited. It's early in our journey. We have a lot more work to do going forward, but it certainly has put us in a great position. I'll add a couple more things quickly. Another one is, while we're modernizing the CRM platform, we are also modernizing a lot of the business processes. So those legacy processes and legacy technology systems in the background that relate to administering or providing administration to the policy services and how we handle our claims, how we present new products and services to our customers. So a lot of work going on in regards to those legacy systems as well. And then thirdly, we are also building and evolving our digital tools at State Farm to create better experiences for our customers from a digital standpoint. And I know you've got an experience along those lines.

I was telling you this last night. We had a little fender bender in the house. And what I loved was, it wasn't me, it was actually my dad. But I knew everything that happened. I thought it was really cool that as part of being in the family, the policy, I knew everything that was happening. Why is that so important when you've got so many customers? And scale, why are you so focused on digital?

Well, I think Aaron described it really well. For us, that's a lot about. Or it's all about that unifying of a customer experience.

Experience.

Right. To make it convenient for you or for one of our customers to understand where they stand in the example of a claim. Experience is just so important to us, and that connection to our customer is what builds that loyalty. So I'll share with you that the demo that Erin described this morning in part is under development. Part of it has been implemented and part of it certainly is aspirational. But. But all of it is a great example of the evolution of those digital tools to create those experiences for our customers that keep us connected to them. But what I've described, by and large has been technology related. Right. And I would tell you that alone, that technology doesn't really get us where we want to be. If you combine that technology along with the local personal relationships that our local State Farm agents create for our customers, you can see how uniquely positioned State Farm really is to unifying the experience and driving that customer loyalty.

So one more question before I let you go. I mean, you said up front, you guys have been around for nearly 100 years. How are you staying agile? To keep innovating.

Yes. Great challenge to us. Again, the decades of complexity don't make that easy. But we are committed to innovating and we are committed to finding new and better ways to do the things that we do. We are very involved in research. So you think of the automated or connected vehicle technology, and we've made a decision to embrace disruption and empower our workforce to be prepared for what comes and certainly to continue to challenge ourselves around innovation and look, as I said, to not sit still and look for ways to continue to keep ourselves relevant. And so much of that is about the culture that we create at State Farm. And I think you saw our CEO Michael Tipsford speak to that. It's a real core belief and value of his that we stay current, stay relevant and work hard to understand and constantly lead from the customer's perspective.

Well, Kitenka, we love working with you. We love the partnership. Thank you for joining us here at Dreamforce.

Thank you, Rohit.

So to close it out, this is just a start of a conversation. Let's keep it going. We're all going to be here after we wrap the keynote up. We've got incredible experiences in the lodge sessions later today, but before everyone leaves, I've got two things I want to go through. One is an ask, and that is please pull out your phone, open up the Dreamforce app, fill out the survey, let us know what you thought of this session. And the last thing is we got to give someone a special gift. So I want everyone to reach under your chair. Someone's going to have a special golden ticket and you're going to win $3,000. So raise your hand once we got a win. We got one. We got one right here. There's our winner. So congratulations. Our winner. Thanks for joining us here. Have a great dream force.