Business software major Salesforce today announced the launch of Shield for financial services cloud to help financial institutions comply with industry regulations.
The US technology company noted that regulatory changes in the financial services industry are pushing financial professionals to be more transparent in the way they manage their clients’ investments.
The San Francisco-based company said the new IT solution can be used to assist financial advisors, retirement plan providers and insurance agents in complying with existing and emerging industry regulations such as the U.S. Department of Labor’s (DOL) Fiduciary Rule.
Salesforce Shield gives firms the ability to capture client interactions and provide their compliance departments with visibility into communications between clients, advisors, agents and teams.
Salesforce partners, including Deloitte, will extend the reach of the offering with integration support, training and other expertise.
“Adopting the right technology is key to succeeding in a changing regulatory landscape,” said Jim Clabby, CIO of Advisor Group. “Salesforce gives our advisors the tools they need to ensure the client is at the center every decision.”