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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.
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Retired Member
Earlier this week, FSA exec, Martin Wheatley, hit the business pages after suggesting that free banking no longer works in today’s climate. He said “the reality is that if you are providing services free it is being subsidised from somewhere else”. With interest rates so low, he talked about how the industry relies on selling “expensive products i...
15 March 2012 /retail
I was working on some data analysis for a client, pulling out swathes of CSV from Facebook and using it to create insights around the demographics and behaviour of a specific audience. Aside from having some gender stereotypes re-affirmed, we found some interesting nuggets such as 4PM being the most Facebook intensive time of the day for the audie...
24 February 2012
Elizabeth Lumley Global FinTech Commentator at Girl, Disrupted
I took part in two panel discussions last week focusing on very similar themes - the customer. More specifically - the bank customer. Those outside the banking world - in any other retail-orientated industry really - may not see this emphasis on 'the customer' as anything strange. But most within 'our' world know what a strange and wondrous develo...
20 February 2012 /retail
Citi recently re-launched its personal finance site, Women & Co - opening up the site to non-Citi customers. Well done, finally we women have a personal finance site that speaks to the issues that really matter to women "...career, family, home, investments, and lifestyle..." Because we all know men are never interested in any of t...
07 February 2012 /retail
Banks are starting to recognise the external forces that compel them to engage with their customers online. They are expressing the desire to embrace the opportunities that social media offers and many display an appreciation that they need to change their business structures to allow better collaboration, internally and externally. But many banks ...
11 January 2012 /regulation /retail
Alex Bray AVP, Omni-Channel Acquisition & Servicing at Genpact
Is it wrong for your bank to use your social graph - the personal data you generate within your various social media outpourings - to make decisions about you? Much as in the famous song from ‘The King & I’, banks hope that once they’ve got to know you, you’ll get to like them too. But it doesn’t end there. Social graph data can enable banks d...
07 January 2012 /retail
I heard last May in San Diego an excellent speech by Chris Dancy from PinkElephant. Chris explained to the audience about the evolution of IT: in the 1980s our bosses didn’t want us to use the phone because of the potential loss of productivity. In the 90s the problem was with email. In the 2000s, the web was seen as something that decreased prod...
14 October 2011
I recently realised that this is a question that all my clients raise when they begin engaging with their customers through social media. It was a question I was starting to dread because I wasn’t sure that I had a response. What they mean is: “If we start to provide customer service on Twitter, won’t everyone start using it and then it will become...
28 September 2011 /retail
I took part in a webcast a couple of weeks ago looking at how to best use social media channels at large events, such as Sibos (coming up next month, folks!) Cognito Analytics, which sponsored the webcast, organised the panel which included, Jennifer Maitland marketing operations manager at Caplin, Peter Vander Auwera, innovation leader at Swift an...
02 August 2011 /sibos /wholesale
Finextra has written before about social media guidlines issued by US regulatory body, Finra - and all its scary Tweet-retention rules. Allen Schoenberg of the CME (@allanschoenberg) re-Tweeted an interesting slide show from Glen Gilmore, adjunct professor of digital marketing & social media law called 'Finra's 10 Commandments of Social Media...
28 July 2011 /regulation /wholesale
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