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.

Retired Member 

Just how private is that conversation?

I’m not sure how practical it is for Lord McAlpine to sue 10,000 Twitter users, but it does serve as a very clear reminder that comments made over a public forum do have repercussions. Something many employees forget. Social has given people a forum to vent their opinions and feelings without thinking of the consequences. Instead of waiting till th...

06 December 2012 /security /regulation

Retired Member 

5 tips for building a successful internal social network

Last week, I had a very interesting catch-up with NixonMcInnes friend, Tony Stewart (@tonycomms). Tony is an internal communications executive at Aviva Investors and he agreed to talk us through his social business journey. Key to Aviva investor’s internal comms social initiative has been the introduction of Yammer* to help their global teams con...

24 October 2012

Retired Member 

Monitoring Social Media, Surveillance or Enablement?

An article on ZDNet caught my attention recently. It looked at a Gartner report that said 60% of businesses will be monitoring social media by 2015 and asked its panel of CIOs if were they doing so already. The majority answered yes and not just for productivity reasons, but for security and brand reputation issues. However, it struck me that the...

02 August 2012 /security

Retired Member 

People sharing photos of cards online are not idiots...

...they might just be your increasingly rare fans. A few weeks back a new service started on twitter. @NeedADebitCard collated all the finest photos from the Internet taken by people keen to share their debit/credit card details and design with the world. The instant reaction to this by most sane individuals is ‘what are you doing you idiots?!’ Ba...

17 July 2012 /security

Elizabeth Lumley Global FinTech Commentator at Girl, Disrupted

Be a person...even if you ARE a bank

I'm been thinking a lot about our fair Natalie lately. One thing you hear about, frequently, is that banks are hesitant to engage with social media because 'why would we open ourselves up to abuse from the public?' Some may see the fate of NewCastle, UK resident Natalie Westerman - whose unfortunate Twitter ID was @natwest - as evidence that it is ...

26 June 2012 /regulation /retail

Retired Member 

Can RBS Group turn a bad week into a positive future?

As someone who has experience of socialising customer services for banks, I watched the fallout from the Natwest/RBS technical outage yesterday with great interest. In particular I was struck by how quickly and strongly the customers reacted on social channels. Natwest have a ticker on their homepage that shows recent customer comments from their...

22 June 2012 /regulation /retail

Retired Member 

Why Being Social Could Pay Dividends

Key research from Carol Rozwell of Gartner last year identified that 20 percent of enterprises that employ social media beyond marketing will lead their industries in revenue growth by 2015. With a growing number of progressive financial services firms already using social media to stay in touch with their customers, not entering the fray now coul...

20 June 2012 /retail

Retired Member 

Social Media Job Shows The Changing Tide

So Goldman Sachs has been slow to embrace social media, is that surprising? Like every decision it’s a matter of weighing up the cost of mitigating the risk versus the benefit. And that’s what I think is interesting about this advertisement. Whilst the financial sector is quick to use technology that provides an immediate benefit, its instinct is t...

03 May 2012 /regulation

Retired Member 

Disruptive start-ups and banks - threat or opportunity?

Like my colleague, Caz, I was also at the Finextra Social Media day last week and I was also inspired by the social business panel and, in particular, Giles Andrews from Zopa’s comments on trust. As Caz effectively outlined in her post, Giles distinguished between ‘hard’ trust, that is; trust in bricks and mortar, big vaults and legacy systems, an...

02 May 2012 /retail

Elizabeth Lumley Global FinTech Commentator at Girl, Disrupted

Where can I find the 'wisdom' in crowds?

Late last month I was invited to the Friday night kick off for Seedcamp's Seedhack financial technology 'hack-a-thon' event held at the Google-run UK Campus, recently launched in London. When you go to as many conferences and listen to the gilded prose of many a social media 'expert' as I do, you hear some of the same stock phrases repeated over an...

12 April 2012 /payments /retail