There are plenty of case studies on banks and social media on the retail and consumer side - mostly disaster stories about what happens when banks fail to use social media effectively. But what about corporate, transactional and/or investment banking? Does social media have a place behind the consumer curtain within the banking community?
Finextra, SWIFT and Cognito Analytics gathered a panel of leading banks, at this year's Sibos, who all have had experiences with social media and Web 2.0.
- Leslie Klein, head of GTS Marketing, Citi
- Kees Moens, senior communications manager, Internet, ING
- Alyssa Gilmore, head of analyst relations, SunGard
- Hakan Aldrin, managing director for The Benche, SEB
- Elizabeth Lumley, special projects editor, Finextra (moderator)
These institutions discussed the following during the web panel debate:
Citibank's marketing of Sibos on Twitter drove up visits to the bank's corporate micro-site for the international banking event by five-fold in advance of the show.
While the bankers on the panel described themselves as 'conservative' to 'moderate' on the use of social media by employees, SunGard sees technology as a force for good in the corporation, driving collaboration and knowledge-sharing across the group.
Citi has been engaging in similar closed loop pilots with IBM, using Big Blue's technology to run three-day corporate 'jam sessions' on particular themes, such as innovation. Citi will continue these experiences and plans to continue to experiment both internally and externally with targeted 'micro-communities' of clients.
SEB went into detail about the use of its professional networking site The Benche, while ING examined its use of social media outside of its well-known retail banking activities.
You can comment on the panel via Twitter by using the #SibosSM hashtag.