Social Media is NOT just another Media Channel

I’ve just attended the Sibos Webcast on social media, with the hope to listen  some breaking announcement on the utilization of Social Media in the Banking industry. The discussion was a sort of déjà-vu of discussions from 15 years ago about the decision to have or not have a web site.

What I haven’t heard during the discussion is that Social Media means empowering the clients to talk openly to the Banks and also to each others. Social Media is not posting a video or a press release in the Corporate Facebook page.

Probably Social Media will soon enter the Banks: hopefully it won’t become a missed opportunity to really listen what clients want. The risk here is that the clients will end up walking away and look for others to discuss. It’s actually quite boring one-sided discussions.