This global independent investment bank provides financial advisory services to corporations, governments, and financial sponsors. They serve clients across a wide variety of industries from 21 geographic locations in the Americas, Europe, the Middle East, Asia, and Australia. Since the bank’s inception in 2007, they have advised on more than $3.5 trillion of transactions, with deal sizes ranging from $100 million to $160 billion. The bank’s advisors know the key to their continued growth is delivering exceptional service.
This financial institution’s bankers asked for new ways to deepen client relationships, facilitate warm introductions, and develop new business through data-driven insights about clients. The applications bankers rely upon most during their daily activities are Microsoft Outlook/Exchange/Office 365 and Salesforce. But this presented a few challenges for their IT, security, and compliance teams.
The bank’s compliance officers work in a world of regulatory complexities, including managing sensitive information like Material Non-Public Information (MNPI) and assessing potential conflicts of interest. Their mission is to keep the bank’s reputation above reproach and avoid business disruptions, fines, and revenue loss. If sensitive information is mismanaged, conflicts of interest aren’t caught in time, or compliance is not securely maintained the bank can experience fines – or worse, long-term damage to an otherwise sterling reputation.
Challenge #1: They needed a way to streamline banker processes, keep deals up to date on recent client activities in Salesforce, and access client insights passively collected in Outlook – at the same time they required 100% adherence to their rules about accessing MNPI.
Equally important was ensuring that banker’s time was tracked accurately to ensure fair pay for time spent in client meetings.
Challenge #2: They needed a way to ensure that investment bankers were paid for their time in client meetings. But that information was held in each individual’s Microsoft Calendar and not easily accessed to validate compensation.
The bank set out to find a solution to securely connect these mission-critical applications to more fully empower their bankers. The team knew they needed a flexible tool to respect their existing workflows and scale with their rapid growth. They knew of Riva’s expertise in handling customer data in complex enterprise environments for the financial services sector and engaged the Riva team to share their business requirements:
- The need for flexibility and security at scale to improve client engagement;
- The capability to sync to a custom Event in Salesforce (rather than a standard Event);
- The need to prevent staff from inadvertently exposing private details when sharing meeting invitations;
- Support for unique workflows and restricted views when considering MNPI – ensuring only specific information be extracted from Exchange and captured within Salesforce;
- Improved Salesforce data capture to increase the executive team’s confidence in their reporting and analytics.
One of the bank’s unique requirements was the exclusion of any meeting body information so staff couldn’t inadvertently break regulatory and compliance rules by sharing private details. They also needed real-time bi-directional sync and the ability to work with custom objects, improving project data in Salesforce to enhance reporting and analytic functionality.
Given Riva’s focus and in-depth understanding of the banking and financial services industries, this bank found that Riva had already implemented solutions that met each of their requirements. Riva’s client engagement team worked closely with the bank’s implementation team, tailoring Riva’s solutions to fit the exact needs of this enterprise environment.
Riva Sync extends the power of Salesforce’s Financial Services Cloud technology and its innovations for Corporate and Investment Banking for this bank. The technology team has empowered partners in investment banking with more efficient and compliant ways to gather client data, better serve clients, and deepen relationships.
Investment bankers are thrilled that they can now collaborate more effectively with deal members to manage the entire deal lifecycle while tracking activities and interactions in the applications and on the device of their choosing – from anywhere.
The executive team has reliable deal analytics to understand the pipeline and client engagement – including historical client data and conversations – and visibility to time spent with clients without exposing sensitive client meeting details.
Bankers can finally spend more of their time as trusted advisors for their clients by accelerating deal pipelines and better managing sensitive information to ensure they remain compliant through every step of the deal.
“Riva ensures we get the most out of our Salesforce Financial Services Cloud solution for Corporate and Investment Banking. Our bankers are blissfully unaware of the data wrangling that Riva does in the background. They just know that it is easier to manage their relationships and deliver value to clients. With Riva, we can do all of this securely and without changing their existing workflows.”
Riva helps Salesforce’s Financial Services Cloud solution for Corporate and Investment Banking work smarter. It makes Salesforce easier for users to share client data previously trapped in Outlook, and it alleviates security and scalability concerns for this financial services institution.Reference: connect salesforce and outlookexchangefinancial servicesfinsOffice 365Outlookoutlook integrationsync outlook