Mascoma Bank is a mutually owned community bank offering a wide array of financial services, including deposit products, loans, commercial banking, insurance, and wealth management. With a focus on financial wellness and community impact, it strives to make a positive difference in the communities it serves.
Disconnected data causes missed sales opportunities and hinders efficiency.
Without a complete, unified view of customer data, Mascoma Bank had challenges understanding how best to help customers on their financial journey. Disconnected systems, email, and manual back-and-forth conversations consumed too much time and employee resources, hindering efficiency and cross-sell opportunities.
A single source of truth drives personalization efforts and productivity.
Mascoma Bank uses Data Cloud to streamline dozens of legacy systems into one platform, including digital banking, loan servicing, origination, CRM, core, website, general ledger, and more. This gives sales, marketing, and support teams a full view of their customers and data that is readily available for use across the enterprise. By combining Financial Services Cloud with Data Cloud, bankers can access interaction, behavioral, and transaction data within a unified customer profile. With real-time data at their fingertips, bankers can help customers reach their financial goals with proactive and personalized communication. For example, a banker can receive an alert if a prospective customer has a loan with a different financial institution so they can proactively reach out to offer a better loan term.
CRM Analytics helps Mascoma Bank identify cross-selling and upselling opportunities by analyzing customer behavior and transaction history. By understanding customers' financial needs and preferences, bankers can recommend relevant products or services that align with their financial goals, resulting in increased engagement and higher revenue per customer.
With Financial Services Cloud and Data Cloud, bankers can see a customer’s entire relationship with the bank and help them reach their financial wellness goals.
Samantha PauseChief Innovation & Brand Officer, Mascoma Bank
Automation speeds up case resolution and onboarding.
Support teams will use automation capabilities in Financial Services Cloud to resolve cases upon first contact. For example, customers who want to change their name are placed into an automated workflow that does all of the extraneous activity like emailing to ask for documentation or an electronic signature. An online account opening process using automation and workflows reduced the time to open a new loan account from 45 minutes to just minutes, and reduced 45 minutes of manual data entry for new loan applications. As a result, Mascoma Bank processed Paycheck Protection Program loans at a volume of one year’s worth of loans in just 13 days.
Advanced phone support helps deliver top-notch customer service.
Service Cloud Voice is being built to unify voice calls and other digital channels such as email, chatbots, web chat, social media, online communities, and SMS messaging. Agents can use this data to quickly answer customers’ questions, proactively make recommendations, and deliver great customer experiences. Service Cloud Voice also transcribes each call and attaches a summary to the customer's record along with the recording. When customers call in to make a transaction dispute, bankers can review previous call data and transcripts to mitigate fraud and other potential issues.
Next: Data Cloud will power personalized marketing offers.
Mascoma Bank plans to do even more with the near real-time data from Data Cloud to personalize marketing offers, like triggering marketing automation based on several key indicators — for example, offering preapproved loans based on customer credit scores, bank account thresholds, and deposits within a certain number of days.
Only Einstein 1 brings together trusted data from all corners of the business on one platform. It makes it easy for banks like Mascoma Bank to deliver a concierge level of service with the personalized, proactive advice customers expect. With an enhanced set of productivity and engagement features, employees can spend less time gathering information and more time doing what they do best — providing holistic, goal-based advice that puts customers at the center of everything they do.
