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Monit and Salesforce: Helping Banks and Businesses Grow Together

By 07.17.23 Silverline and Monit logos
Reading time: 2 minutes

According to a survey by Monit of SMB owners, the recent turmoil in the banking sector has influenced how they manage their bank accounts. The survey found that 90% of owners relooked at how they manage their deposits, with 38% opening and funding accounts at new institutions.

Chances are that your bank is getting just a snippet of the complete picture of your business banking customers. You may be unaware of how customers are moving around their money, leading to a diminished ability to advise and sell to them effectively. 

Silverline partner Monit is an award-winning cash flow analysis, forecasting, and guidance platform that banks provide to their business customers. Monit helps both banks and business customers work smarter and powers the success of the other.

Want to learn more about how Monit, Silverline, and Salesforce can bring value to your bank and your business customers? Read on to find out how banks and businesses can grow together.

How does Monit help banks and business customers?

Let’s say Dollars & Cents Bank has Bubbles Laundromat as a customer. Bubbles uses Monit and securely links it with its QuickBooks accounting software. The Monit portal provides Bubbles with a suite of easy-to-use online tools for managing and forecasting cash flow, revenue, and profitability, along with personalized financial insights. 

Dollars & Cents Bank has access to the same Monit portal that Bubbles Laundromat uses. Dollars & Cents can see the whole share of wallet within the portal and can connect those insights and actions directly to its Salesforce. That means insights not only into Bubbles’ banking with Dollars & Cents, but also into Bubbles’ relationships with other banking institutions. 

By gaining visibility into the Bubbles financial services account record within Salesforce, Dollars & Cents can better serve the laundromat from a sales perspective. The bank has a broader view of its business customer with access to both first-party and third-party data. 

What are some examples of Monit use cases?

Some of the main Monit use cases include:

  • Cash flow analysis
  • Cash management
  • Financial alerts or suggestions
  • Full share of wallet analysis (for bankers)
  • Integration into a business accounting system

Monit uses accounting data from a bank’s business clients to generate actionable intelligence that makes engaging, guiding, and selling easier. Banks can use the intelligence to respond to customer cash flow needs, such as suggesting a line of credit or moving money between bank accounts. The bank can also leverage Monit alerts to generate Salesforce next best actions and promote upsell opportunities. 

How can Silverline support your bank and its business customers?

Silverline partners with leading banks such as Five Star Bank, Green State Credit Union, and Lake City Bank on their Salesforce journey. We work with partners like Monit to help banks navigate the digital fintech landscape so they can optimize their customer experiences. Find out how we can help your organization. 

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