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Beyond AI, it is an exciting time to work with U.S. financial institutions, including banks and wealth managers, of all sizes. In addition to the $84 trillion “Great Wealth Transfer” from Baby Boomers to subsequent generations, more Americans are invested in the US equity markets than at any other time in history, fueled in part by double-digit back-to-back returns of the S&P 500 index. 

More foundational shifts are emerging, enabled by proposed and enacted recent U.S. legislation, which include an explosion of private credit funded by traditional banks and frameworks to enable alternative investments and crypto within 401Ks and other retirement accounts. The rate of change is increasing, which favors Fintechs and NeoBanks over traditional financial institutions. 

For financial institutions using Salesforce, it’s been a little over a year since the launch of the Agentforce platform. Banking, lending, and wealth management organizations are leveraging AI agents to deliver superior customer experiences while freeing up human employees to focus on building relationships that drive profitable growth, and we’re seeing a major push across the industry to invest in creating agentic enterprises. However, data readiness and human adoption are the biggest barriers to scale AI across the enterprise. 

In part one of our Agentforce for Financial Services showcase, we will dive into three high-value, low-risk AI agent use cases that can help your organization on this journey. We’ll break down three common scenarios, walk you through the Agentforce process, and outline the benefits of implementing these agents to facilitate routine operations. In next week’s second part, we’ll do the same for insurance use cases. 

Portfolio Performance Summary Agent

Wealth managers are constrained by manual processes when delivering portfolio updates to clients, limiting their capacity for strategic financial tasks. Using Agentforce for Financial Services to automate the delivery of real-time portfolio performance summaries  — including growth trends, asset allocation, and market insights — enables clients to access critical investment information without advisor intervention, while still allowing escalation for personalized advice. 

Agentforce interaction steps

A client contacts their wealth management firm seeking a quick update on their investment portfolio. 

  1. Client request initiation: The client asks for a portfolio performance update.
  2. Identification: Agent requests portfolio ID or client account details for secure data retrieval.
  3. Data retrieval and analysis: Agent pulls real-time portfolio data, including asset allocation, performance trends, and market insights.
  4. Performance summary delivery: Agent presents a clear summary covering total growth, asset class performance, and relevant market movements.
  5. Escalation option: Agent offers to escalate the interaction to a human advisor for deeper, personalized guidance.

Agentforce benefits

  • Frees up wealth advisors to focus on strategic tasks like tax planning and portfolio restructuring by automating routine performance updates.
  • Provides clients with instant, 24/7 access to accurate portfolio insights, reducing wait times and enhancing engagement.
  • Leverages real-time financial data to deliver precise and timely investment performance summaries.
  • Enables personalized follow-up with advisors only when needed, optimizing both service quality and operational scalability.

Loan Eligibility and Application Status Agent

Routine inquiries about loan statuses and eligibility overwhelm banking customer service teams, leading to longer response times, reduced agent efficiency, and customer dissatisfaction. During peak periods, such as promotional loan campaigns, customer service queues can grow significantly, making it difficult to maintain service quality and scalability. This results in a poor customer experience, lost business opportunities, and inefficient use of resources.

Agentforce interaction steps

A customer wants to check the status of their loan application and understand if they qualify for new loan products. 

  1. Authenticate the customer: Use customer’s application ID, personal details (e.g., name, date of birth) to search their account and ensure compliance with security protocols before proceeding.
  2. Retrieve loan application details: After authentication, retrieve the customer’s loan application details, including status (under review, approved, declined), required next steps, or missing documents. Present the information clearly to the customer.
  3. Check loan eligibility for new products: Review the customer’s profile and financial history to assess eligibility for new loan products. Use pre-defined criteria (income, credit score, debt-to-income ratio) to recommend loan products or inform the customer of potential opportunities.
  4. Provide instant responses and recommendations: Based on the retrieved data, provide the customer with an instant response and guide them through next steps or answer additional questions.
  5. Escalate complex inquiries to human agents: Escalate the case to a human agent if the inquiry cannot be resolved, such as questions about denied applications or requests for customized loan options. Provide a concise summary of the interaction and relevant customer data for a seamless handoff.
  6. Collect post-interaction feedback: Send a follow-up message to collect feedback about the interaction. This data is used to improve future customer service experiences.

Agentforce benefits

  • Automate routine loan inquiries, enabling human agents to focus on high-value financial tasks like underwriting, financial planning, or personalized consultations. 
  • Customers receive instant, accurate information about their loan applications or eligibility, improving satisfaction and loyalty. 
  • Ability to handle multiple queries simultaneously ensures scalability during busy periods, reducing wait times and enabling financial institutions to deliver consistent service quality.

Report Life Change and Beneficiary Agent

Wealth management companies face challenges in efficiently handling life event updates, such as adding beneficiaries after a child’s birth. Additionally, many firms miss opportunities to cross-sell relevant products, like 529 education savings plans, due to a lack of personalization and effective use of client data. Poor follow-up communication and insufficient security measures further exacerbate these issues, reducing client engagement and trust. 

Agentforce interaction steps

A wealth management client reports the birth of a child and requests to add the child as a beneficiary to their financial accounts. 

  1. Client identity verification: Securely verify the client’s identity using multi-factor authentication to ensure authorized access.
  2. Capture life event details: Collect information about the child (name, date of birth, etc.) and facilitate the secure upload of the birth certificate.
  3. Update beneficiary records: Add the child as a beneficiary in the client’s financial accounts through Salesforce Financial Services Cloud and ensure compliance via automated workflows.
  4. Cross-sell 529 plan: Proactively recommend a 529 education savings plan based on the client’s profile, explain its benefits, and initiate account setup upon client approval.
  5. Enroll in marketing journey: Add the client to a personalized “529 Welcome Journey” in Salesforce Marketing Cloud to deliver educational resources and engagement materials.
  6. Confirm updates and wrap up: Provide a summary of actions, confirm changes with the client, and securely store all updates in Salesforce for future reference and audit purposes.

Agentforce benefits

  • Reduce operational inefficiencies and eliminate errors by efficiently updating beneficiary information and ensuring compliance through automated workflows.
  • Enhance the client experience by proactively identifying and offering tailored financial products.
  • By leveraging Salesforce Marketing Cloud, strengthen client engagement through timely, relevant educational resources, fostering trust and loyalty. 
  • Drive increased client satisfaction, improve cross-sell conversion rates, ensure regulatory compliance, and deepen the client relationship, resulting in both improved customer retention and revenue growth for the company.

Start your Agentforce journey with Mphasis Silverline

The Mphasis Silverline Financial Services team can guide you through every phase of your Agentforce for Financial Services implementation journey, from identifying and resolving data gaps to unifying customer profiles and setting clear organizational expectations to inform your specific use cases. Our team leverages insight acquired through thousands of engagements, along with real-world expertise gained across the Financial Services industry. 

Watch our webinar, “Accelerating Agentforce Development and Rollout,” to learn more about implementing Agentforce at your organization. If you would like to schedule a workshop for your organization, you can reach out to Matt Trokey directly.