This Capital Markets Leader Relies on Riva to Advance Relationships and Protect MNPI
Corporate and investment banking is a business built on relationships. Like all financial institutions, this leading bank deals with sensitive customer data and must meet strict security and compliance regulations. They need the data flexibility to surface client details to authorized staff when required and maintain regulatory requirements and the handling of Material Non-Public Information (MNPI).
Gaining a competitive edge in banking isn’t easy in today’s climate. It requires an organizational commitment to excellence, a team dedicated to providing knowledgeable, personalized client interactions, and the right technologies in place to make it all possible.
Before implementing Riva, this financial institution thought they were on the right track. After all, they made a significant investment in Salesforce Financial Services Cloud (FSC), where their staff could access and update client data. Their version of FSC contains unique fields that store and display the data that their teams need most when interacting with their clients.
Since mandating FSC as their single source of truth, the bank’s deal teams spent time updating FSC independently from the daily interactions they were logging in their calendars and inboxes, creating multiple reference points for a client. More than 400 staff members using highly tailored versions of FSC with unique fields meant a potential higher exposure to MNPI.
The team had little time for learning new applications and adopting new processes and workflows. The bank knew they needed a reliable, sophisticated, and transparent sync solution with the intelligence and flexibility to allow their deal team members to access and update client intelligence data outside of FSC – all while keeping MNPI data secure.
Challenge
The team faced many daily obstacles that caused friction with clients, like asking clients to verify contact information multiple times, not having access to accurate data before a meeting or during calls, and the inability to track product interest accurately.
Since the information wasn’t flowing between calendar, email, FSC, and other core applications, staff manually entered data in FSC. Toggling between applications allowed for more instances of human error and exposure of MNPI.
They set their sights on an on-premises data synchronization tool that could go beyond what the free CRM provider tools could do – a way to keep customized client data accessible yet secure across their core applications. That’s when they found Riva.
Solution
With Riva, customer data in appointments and tasks is curated and flows between FSC and Exchange according to organizational and industry rules.
Riva’s advanced filtering between FSC and Exchange enables deal team members to share sensitive deal-related client data based on their level of security clearance.
Appointments sync bi-directionally according to specific MNPI protective rules operating in the background, giving the organization control over how – and to whom – they want client intelligence data displayed (without worrying staff). Riva also provides team members tools to help with adherence to regulations by giving control over who can access sensitive call reports.
Contact creation and deletion work the way the organization prefers – limited to Salesforce only. And, to ensure vital data is not lost, deletion recovery is in place.
With the addition of Riva Insight, they now have client intelligence flowing back and forth between FSC and Exchange, where the team can quickly access data directly from FSC in our side panel – right from their inbox.
Using Riva’s advanced configuration options, this institution surfaces client data based on each user’s strict security and privacy clearance to provide intelligence at each touchpoint and even allows their staff to enhance it as they learn more.
Results
The team can now see all the FSC customer data they need without toggling between different applications – boosting productivity while leveraging and improving client data.
“Thanks to Riva, our deal teams now collaborate more efficiently – without sacrificing security or our reputation. Riva keeps our business compliant while allowing our team to share sensitive data with the right people at the right time.”
Riva helps this bank maximize team efficiency and productivity by:
- Delivering a complete, contextual view of client interactions;
- Automatically sharing client and deal data based on rules and access levels defined by organizational and industry compliance standards;
- Syncing appointments, tasks, contacts, call reports, and deals.
This financial services organization prides itself on providing superior advice to clients around the world. With Riva, the deal teams are deepening client relationships by delivering faster, more personalized financial guidance to their customers – securely and at scale. The bottom line? A competitive edge and increased employee empowerment, all without compromise of MNPI.
