Salesforce powers PenFed to improve remote financial services

CRM supplier Salesforce announced an expanded relationship with Pentagon Federal Credit Union (PenFed) to improve remote financial services.
salesforce-technologyPenFed has incorporated a range of Salesforce solutions to reach members in communities across the country, providing them with the financial resources they need during Covid-19 epidemic.

PenFed, leveraging Salesforce Financial Services Cloud, launched financial management tools, including PenFed Member360, to deliver financial solutions and connected experiences for its members.

PenFed is deploying two new technologies — Loan Deferment Portal and Faster Customer Service to better support its members virtually.

PenFed built and implemented an online portal leveraging Salesforce Community Cloud for Financial Services that enables members who are experiencing financial hardships to manage skip-payments and request temporary financial relief. To date, nearly 17,000 loan deferments have been handled through this process for more than 11,000 members.

PenFed is leveraging bots to handle internal service requests, such as password resets, saving interactions with their service desk staff for issues that are more complex and require human assistance.

A year ago, 100 percent of PenFed’s service desk cases were handled by phone; today 37 percent of cases are handled by phone, 42 percent by chat and 21 percent by chatbots. These efficiencies shorten wait times for members as agents receive faster support and turnaround for common requests.

“Salesforce’s infrastructure provided the agility to transition our financial professionals to remote work and provide additional digital financial services to our members,” said Joseph Thomas, PenFed EVP and CIO.

Rohit Mahna, SVP and GM, Financial Services at Salesforce, said Salesforce’s solutions will enable PenFed to increase productivity and deliver even more personalized financial support to its members at scale.