Social Banks

Social Banks is a group that aims to discuss trends and debate as the financial services take their first steps into social media. Twitter, Facebook, LinkedIn etc..debate all here.

Joris Lochy Product Manager at Intix | Co-founder at Capilever

Frictionless charity donation

On a yearly basis billions of euros are donated to charity. This is done in all forms, i.e. from companies or individuals sponsoring charity events, to buying items of charity organizations all the way to the most easy form of donating directly money via a credit transfer or direct debit. Although this results in enormous money transfers, the cust...

11 January 2022 /sustainable

Retired Member 

Social media payments friend or foe

Social media, like any other innovation, is likely to go through a refinement period, which seems like a never-ending process of updates and improvements. Despite its substantial list of pros and cons, social media sites and apps have been here for more than a decade and its footprint in today’s society is both profound and undeniable. The socia...

02 July 2020 /payments /retail

Chris Principe CEO at APB, Inc.

SIBOS COIN

We have arrived at my favorite time of year, which is Sibos season. For me, Sibos is my Superbowl, the highlight of my year and a spectacular event that I have been privileged to attend 17 times out of the last 20 years. My expectations for Sibos 2018 are the highest since before the recession of a decade ago. Gone are the days when the social asp...

12 October 2018 /ai

Bahman Rezayat Expert system analyst at Maskan Bank of IRAN

Banking on Social Media Platforms

Social media Today, social media has become a new and important skill for all, even for those who do not even know a bit about IT. In recent years, access to social media by billions of users around the world, has led modern society and lots of people to concentrate on these kinds of Medias and also makes a considerable popularity, especially amon...

06 March 2017 /retail

Retired Member 

Digital Inclusion: The Need of The Hour

Way back in 1955, All India Rural Credit Survey Committee recommended availability of institutional credit to the unbanked people in the country. The outcome was State Bank of India. We are in 2015. Much water has flown under the bridge since, yet there is a gap in availability of banking services to the masses in towns, villages and in remote ha...

25 August 2015 /inclusion

Retired Member 

What the FFIEC social media guidance can teach UK firms

What is this all about? The FCA plans to publish new social media guidance for UK financial service companies in 1Q14. This follows the final version release of the Official FFIEC Guidelines for Social Media in Banking in the US just before Christmas 2013. Current FCA social media guidance around social media extends the guidance for financial pro...

30 January 2014 /regulation

Retired Member 

The voice of the customer is growing louder.

Did you think that it is always the customer who is at the receiving end of cleverly devised communication strategies and costly services? Think again. Recently we have seen some colourful examples of how regular consumers are exerting their power by taking on board tools invented for brands and corporations. One British consumer who got fed up wit...

09 September 2013 /retail

Retired Member 

Branch vs. self-service: Striking the banking balance

Retail bank branch closure is a growing trend in several countries as a cost cutting method. The thinking behind this is logical: branch banking is expensive so it makes sense to drive customers to channels such as online and mobile which still provide a wide range of services but are cheaper for the bank to operate. But will this increasing shift...

18 June 2013 /retail

Retired Member 

What the financial industry can learn from Co-Op Bank

Last week, the Co-Operative Bank experienced a six notch downgrade by Moody’s rating agency, based on an increased “problem loan ratio” – launching the financial world into concerns around a potential imminent taxpayer bailout. The bank immediately turned to Twitter as the communication channel of choice to reassure the public. Their approach was ...

14 May 2013 /regulation /retail

Retired Member 

The Real Risk of Social Media

With news that ING is to enable elements of banking over Facebook and Chirpify to allow users pay with Facebook comments, it seems that social banking has arrived. How ironic then that most banks are so caught up in regulatory concerns that they themselves don’t take full advantage of social networks, let alone social on mobile devices, to inter...

03 April 2013 /regulation