Multitude partners with Salesforce to make financial services even more accessible for everyone

Multitude is a fintech trailblazer on a mission to democratize financial services across Europe through digitalization. Its three tribes – SweepBank, Ferratum and CapitalBox – cater to three different segments with very different needs. That is where Salesforce comes in. Taking a customer-centric approach and standardizing as many processes as possible on Salesforce gives Multitude the flexibility to delight customers of all shapes and sizes.

“Our ethos is to simplify, automate, and digitalize. We’ve got a great track record of knowing what our customers want and executing at speed and scale,” said Dessilava Nikolova, Head of Global Operations at Multitude.

Before partnering with Salesforce, Multitude had decentralised systems and multiple processes across regions. It decided to simplify the environment with a platform approach, which is great for getting enterprise-wide visibility and creating a stable platform that scales alongside business growth. Over just one year, it centralised on Salesforce, scaled back operations in less profitable regions, and focused on establishing operational efficiency in the remaining 18 countries.

Whether staff are working on debt collections, customer service, or compliance, they all work in Salesforce. To keep the team productive and efficient, Multitude automates time-consuming manual processes such as credit risk assessments. This leaves the team more time to focus on creative tasks that generate more value for the company. In one year, manual effort reduced by 30%, while the goal of automation isn’t to cut costs, it is to reap the benefits that come from working smarter, not harder.

One platform to benefit all customers

What Multitude Group brings to the table is a fully digital experience that meet all the customers of it’s three tribes where they are and takes them on a guided journey of clicks. In fact, up to 80% of service interactions take place on automated digital channels.
“Customers are in control at every stage and interaction across the journey, from the product offer, know your customer (KYC) and onboarding, to customer support and their retention journeys and termination,” said Lasse Mäkelä, Chief Strategy and IR Officer at Multitude.

As a listed company on the Frankfurt Stock Exchange, everything the company does also needs to comply with regional banking regulations and follow legal frameworks according to the country the customer is based in. Rather than letting this complicate the customer experience, Multitude used Salesforce workflows to standardise processes and customer support across all markets. The platform has the flexibility to accommodate subtle nuances between countries – whether it’s complying with regulations or engaging with the customer’s native language – while streamlining operations across the board.

“Our mission is to serve the underserved. For example, when some customers told us they find onboarding overwhelming, we designed our process to be as simple as possible for everyone. We actively tracked metrics to measure the impact of those changes, so we knew we were getting it right for those people,” said Charlotte Sandakumaran, Group Communication Specialist at Multitude.

Intelligent self-service to empower people

To give customers a greater choice over how they engage with Multitude, the team also launched a self-serve community.

“Up to 85% of customers use self-service, and it’s increasing all the time. We monitor customer satisfaction (CSAT) scores and feedback to make sure they’re confident that they can do what they need to in a few clicks,” said Makela. “Empowering people is just as important as a good CSAT score.”

With one login, customers can check their balance, pay back their loan, start a new application, request new card and block the old one if it’s lost or stolen. And if the customer needs support, they don’t have to queue to speak to an agent.

Fifteen AI-powered virtual assistants are providing front line support, and these solve 75% of all cases without human input. Customers can also watch tutorials and if they want to speak to a real person at any time, they can simply tap a button that routes the case to an agent with all the details of everything that’s happened so far.

Outstanding customer support in any language

Over the last two years, customers service contacts have reduced by more than 70%. This allowed Multitude to reinvest resources into quality improvement, and as a result, customer satisfaction has jumped from 89% to 94%.

To take it one step further, the company is currently trialling a third-party solution that integrates with the cloud to create an intelligent, multilingual contact centre without increasing headcount.

According to Mäkelä, “The platform means we can assist customers in their preferred language both verbally and in writing. AI technology automatically translates their message into English for our agents to understand and respond to. Once our agents respond, the system translates it back into the customer's native language for seamless communication. This allows us to provide support in 15 different languages without requiring native speakers, ensuring consistent and high-quality service.”

In summary, Multitude’s goal is to offer customers a diverse range of choices conveniently located in a single platform and its innovative approach to technology isn’t just helping to create more valuable customer experiences today, it will also help the company interconnect its three tribes in the future and to integrate offers from partners into its customer-facing platform, which will benefit all customers.

“The partnership with Salesforce gives us the flexibility to be customer-centric across regions, products, and languages,” said Sandakumaran. “Having confidence that we can look after our customers at scale means we can spend more time innovating and developing new products to help them succeed and achieve their growth goals.”

 

Disclaimer: The information provided in this article is intended for general informational purposes only. It is not intended to be, and should not be taken as, professional or financial advice.