The second edition of the Salesforce Connected Financial Services Report shares insights from over 9,000 global consumers, including 500 Australians. What stood out most to us? Financial services businesses have more customer data than ever, but they’re not actively using it to deliver the experiences customers expect.
With Marketing Cloud Next now available, financial services businesses have a powerful opportunity to close the gap between data and experience. The platform makes it easier to access real time insights, build smarter segments, and activate built in AI agents, helping teams deliver more personalised, proactive journeys that reflect what customers actually need.
Here’s our expert take on the report, and the five areas we believe financial services businesses should focus on to turn data potential into real customer outcomes.
Financial services are sitting on a data goldmine
Despite access to more customer data than ever before, from transactions and interactions to preferences and life stages, much of it still isn’t being used effectively.
Instead of powering tailored service and proactive engagement, it’s often locked in disconnected systems or stitched together manually behind the scenes. The result? 47% of consumers still have to repeat themselves across channels.
93% of industry decision makers agree they should be getting more value from their data. The real challenge is connecting, surfacing, and applying data in a way that improves the customer experience.
Personalisation is expected but rarely delivered
Only 15% of customers say their financial provider gives them personalised insights that improve their financial wellbeing. With younger generations expecting relevant, data informed advice, the bar is rising fast.
The financial services organisations who can show up authentically in a meaningful and supportive way will be winning the hearts and minds of customers.
Most engagement is still reactive
Less than half of customers feel their provider anticipates their needs. Key moments, like reaching a savings goal, a change in income, or a potential churn signal, often go unnoticed or unaddressed.
This reactive approach leads to missed opportunities to provide value, build trust, and strengthen relationships. It also means FINS are constantly playing catch up, responding after the fact instead of guiding customers through their financial journey.
Customers are open to AI but want control and clarity
54% of consumers say they trust AI in financial services, and many are ready for tools that help with fraud alerts, budgeting, and smart recommendations. There’s a real opportunity to use AI, especially agentic AI, to improve service, scale personalisation, and reduce the pressure on teams.
But trust matters. Only 10% of consumers fully trust AI today. Without clear communication about how AI is used and why, even helpful tools can feel impersonal or unclear.
Experience is what drives loyalty, not pricing
46% of customers say they would stay with a provider who delivers excellent customer experience, even if prices go up. That number rises to 55% among high earners.
Customers have options, and the report tells us that higher earners are more likely to switch organisation due to experience. What makes them stay is how they feel. Investing in smarter service, more relevant communication, and seamless digital experiences will pay off more than another rate discount.
Final thought
Financial services brands have more data than almost any other industry. But most are not turning that data into meaningful action. The opportunity isn’t to collect more. It’s to do more with what you already have.
We help financial services businesses activate their data through Salesforce. That means building smarter journeys, designing for relevance, and creating experiences that earn trust.
Want to unlock more value from your data? Let’s talk.
