Overview

First Federal Savings and Loan is a local community bank in Washington State that provides a range of services, including mortgage loans, home equity lines of credit, and deposit accounts. The bank has been operating since 1923 and is focused on helping customers achieve their financial goals through competitive rates and friendly customer service.

Currently, First Fed has 16 locations, including 12 full-service branches in Clallam, Jefferson, King, Kitsap, and Whatcom counties. First Fed is a subsidiary of First Northwest Bancorp (FNWB), a holding company for the bank and other investments. First Fed has donated over $8 million to non-profit organizations through our bank and foundation in the past seven years. In 2022, First Fed will have volunteered over 6,500 hours with non-profit organizations.

Challenges

First Federal Savings and Loan faced several challenges before implementing Salesforce Financial Services Cloud (FSC), including the cost and complexity of setting up the system, difficulties in integrating it with their existing legacy systems, data security and compliance regulations, budgetary constraints, and having limited IT staff and technical expertise. These obstacles made it difficult for First Federal to manage its operations efficiently while staying up-to-date with the latest technological developments. As such, they had to carefully weigh the costs and benefits associated with introducing Salesforce before deciding.

Solution

A wall-to-wall Salesforce implementation for First Federal Savings and Loan now provides an enterprise solution, allowing the bank to maximize efficiency and better serve its customers. This includes an integrated suite of tools such as automated customer onboarding, account management, fraud detection, compliance management, and access to industry insights. Additionally, the solution benefits from strong integrations utilizing MuleSoft that offer safe and quick connections between applications and systems, enabling real-time data exchange. Furthermore, it offers digital marketing capabilities and data analytics tools for business intelligence. All of these features work together to make the best use of existing technology investments.

Outcomes

The implementation of Salesforce provided many positive outcomes, including streamlined and improved customer service, better financial management capabilities, enhanced security protocols, and access to real-time analytics. Through its integrated suite of tools, First Federal Savings and Loan automates regular processes such as customer onboarding and account management, freeing up resources for more strategic initiatives. Additionally, the platform's robust integrations, leveraging MuleSoft, established Salesforce as a single source of truth and provided team members with a full 360-degree view of their customers. Salesforce provides the institution with an end-to-end experience tailored to the bank's needs. First Fed now serves its customers better while at the same time maximizing its efficiency.

Technologies

• Salesforce Financial Services Cloud (FSC)
• Salesforce Shield
• MuleSoft
• Custom Integrations

Vantage Point Consulting Contact Information

David Cockrum, Founder/CEO  
david@vantagepoint.io
469-499-3400
www.vantagepoint.io