01 Jun Fast Forward: June 2022 Edition – FINS
Monthly, FSM compiles data and research from interviews with our clients, consultants, and our extensive network of industry experts to identify sales opportunities for our partners at Salesforce. We call it “Fast Forward.” Please sign up below if you’d like to get this info delivered via email.
The summer months are here at last, and we’ve got everything you need to keep landing deals even when you’re out by the pool. Read on for the June edition of Fast Forward for tips on where to find opportunities, some excellent advice for change-resistant prospects, and more.
In this edition:
- Financial wizardry: News on Fast Slow Motion’s latest accreditation!
- The check’s in the mail: Where to look for opportunities this month.
- 🎶Ch-ch-ch-ch-changes🎶: How to help prospects embrace change.
You get me: The rundown of industries served and Salesforce products wrangled by FSM in the last month.
THE LATEST
We are proud to announce that FSM is now 4x Financial Services Cloud Accredited.
We look forward to helping your financial services clients on upcoming projects!
OPPORTUNITIES
Remittance industry
In a general sense, remittance is primarily an overseas transaction made in the form of a payment or gift. The industry is expecting accelerated growth as it’s estimated to grow from $901.4 billion in 2022 to $1207.41 billion by 2027, a CAGR of 6.02%. One primary reason for growth in the industry is an increase in digitalization and payment automation.
- Learn more about what a remittance payment is, the industry market size, and view a matrix of companies in this industry.
- Use this angle: Covid-19 pushed companies to transition towards a digital world, and remittance was no exception. Focus on how Salesforce can help remittance companies scale their digital footprint, enhance communication with clients, and provide clarity around services and processes.
Proptech lending
Proptech is a solution many fintech companies are using to combat a lack of funds. PropTech lending occurs when a FinTech company issues credit to an individual or firm with the goal of buying property. This form of lending increased from $3 million in 2014 to $20 million in 2020, making proptech a serious industry and predictively the future of mortgages.
- Learn more about the role of fintech in real estate with proptech lending and high tech vs. old-school underwriting in proptech.
- Use this angle: The reality of today’s world indicates that if a lender doesn’t embrace technology, they won’t be able to grow their company. However, proptech businesses value human credit decisions, and fear that leaving these important choices to technical automation that heavily impact company success could set their businesses up for failure. Focus on how Salesforce isn’t a tool used to eliminate the important element of human judgment, but is a resource used to improve data collection to enhance informed decision making and simplify the lending process for users.
Credit unions
As the world continues to open back up, credit unions are expecting continued loan growth. Despite inflationary pressures, credit union loan portfolios are expected to return to historic growth rates in 2022 with Credit Union National Association (CUNA) economists predicting a 9% increase in total loans outstanding. That’s just above the historic average growth rate of 8%, and higher still than the 7.7% growth rate in 2021.
- Learn more the current state of credit unions in CUNA’s most recent monthly report and check out these credit union trends to watch.
- Use this angle: Personalization is the key to growing the credit union industry as consumers prioritize digital capability. Focus on how Salesforce can drive enhanced personalization, position key data at the fingertips of those who can generate impact, and create a greater ability for creative strategy and critical transformation in the credit union industry.
Recently funded
Check out this list of insurtech companies that were recently funded and will be looking to grow.
BONUS INSIGHTS
Creatures of habit
Sometimes a prospect’s biggest stumbling block is their team’s resistance to change. This article from Harvard Business Review on how to make change less painful is a great tool to share the next time the topic comes up in a sales meeting.
THE PARTNER OF CHOICE
Looking for a partner who understands your clients? FSM is Financial Services Cloud Accredited and ready to help your financial services clients harness the full power of Salesforce.
In the last month alone, Fast Slow Motion helped more than 150 new and existing Core, FINS, HLS, MFG, and RCG clients implement and enhance Sales Cloud, Service Cloud, Digital Engagement, Health Cloud, Marketing Cloud, Experience Cloud, Pardot, FSL, and more.
Looking for a partner who can help your client maximize their ROI? Reach out to me via email or add me on Slack (greg.sheek@fastslowmotion.com) – we’d love to help you close your next deal.