Getting Financial-Services-Cloud Certification Made Easy!

To document the current state business process for implementing Salesforce Financial Services Cloud, the consultant should create an end-to-end visual map of the process using personas, systems, inputs, and outcomes. A visual map is a tool that can help illustrate the flow of a business process from start to finish, showing the steps, decisions, and dependencies involved in each stage. A visual map can also include personas, systems, inputs, and outcomes to provide more context and detail for each step of the process. Personas are fictional characters that represent the different roles or users that participate in or interact with the process. Systems are the tools or applications that are used to perform or support the process. Inputs are the data or information that are required or provided for each step of the process. Outcomes are the results or outputs that are achieved or delivered by each step of the process. Verified References: : Salesforce Help Article 3 : Salesforce Help Article [4]

The Access Interest Tags for Financial Services Cloud permission is included in two permission sets that are provided by FSC:

• FSC Foundations permission set: This permission set grants access to the core features of FSC, such as financial accounts, account groups, households, goals, referrals, and interest tags7.
• FSC Extension permission set: This permission set grants access to additional features of FSC that extend beyond the core functionality, such as action plans, relationship groups, relationship maps, client tasks, client notes, and interest tags8.

To create a new FSC permission set that includes the Access Interest Tags for Financial Services Cloud permission, either of these permission sets can be cloned and modified as needed.

References:

• FSC Foundations Permission Set
• FSC Extension Permission Set

 To model a requirement where more than one person can be joint owners on a Financial Account, the Admin can map additional owners using the Financial Account Role. The Financial Account Role is a junction object that links a contact or an individual to a financial account and defines their role or relationship with that account. By using Financial Account Role, the Admin can add multiple owners to a Financial Account and specify their ownership percentage, primary status, and other details.

To enable Multiple Relationship Groups, which is a feature that allows users to add individuals to more than one group or household, the Admin needs to use Custom Settings. Custom Settings are similar to custom objects and enable application developers to create custom sets of data, as well as create and associate custom data for an organization, profile, or specific user. The Admin can use Custom Settings to enable Multiple Relationship Groups by following these steps:

• From Setup, enter Custom Settings in the Quick Find box, then select Custom Settings.
• Click Manage next to Group Member Record Type Mapper.
• Click Edit next to Default Organization Level Value.
• In Multiple Relationship Groups Enabled, select True.
• Click Save.

The following objects should be used when planning to use the Mortgage Data Model to integrate with external Loan Origination and Customer Onboarding applications to accurately track the pipeline:

• Opportunity: An Opportunity is a standard object that represents a potential sale or deal for your products or services. You can use the Opportunity object to track and manage the stages, amounts, probabilities, and expected revenue of your deals. You can also use the Opportunity object to associate products, price books, quotes, contracts, orders, or assets with your deals.
• Account: An Account is a standard object that represents a person or an organization that has a business relationship with your company. You can use the Account object to store information about your customers, such as name, address, phone number, website, industry, or rating. You can also use the Account object to associate contacts, opportunities, activities, cases, or notes with your customers.
• Financial Account: A Financial Account is a custom object in Financial Services Cloud that represents a financial product or service that is owned by an account holder or related to an account holder’s financial goal. You can use the Financial Account object to store information about your customers’ financial accounts, such as type, balance, status, or interest rate. You can also use the Financial Account object to associate financial transactions, financial account roles, or financial goals with your customers’ financial accounts. Verified References: : Salesforce Help Article [6] : Salesforce Help Article [7] : Salesforce Help Article [8]