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What Social Interaction Do I Want With My Bank

Ok... I admit, I'm a little late to the party, but.... I have found Twitter. Those who know me may have started to suffer seeing my tweets over the past couple of weeks. On other other hand, as someone who couldn't make it to SIBOS last week, Twitter, I thought, came into its own. Having the chance to see the various comments from delegates kept me abreast of the flavour and mood of the week.

I have been looking at people/entities to follow and after exhausting my favourite sports, charities, work interests etc I got round to my banks and started searching Twitter for their presence. Surprise, surprise, my main two banks (High Street varieties) do not have a presence on Twitter. They may have a person who monitors Twitter to ascertain any comments about their bank but there is no designated, named. presence.

SIBOS last week was all about the Social Media revolution in Financial Services yet the UK Banks again have decided that they do not want to be a part of it.

I appreciate that Twitter is only the tip of the Social Media iceberg, but come on chaps - please catch up with the plot




Comments: (4)

A Finextra member
A Finextra member 01 November, 2010, 18:25Be the first to give this comment the thumbs up 0 likes

I am trying to think exactly what a bank might use twitter for. My wife knows a lot more about social media than I and told me straight, most businesses make a mess of it by thinking it is just another channel to market their products through. This just alienates their potential audience. So, they need to tweet about something interesting. My vote on something interesting is on how they are going to prevent greed and short reward horizons for their staff from causing us another serious issue ;)

A Finextra member
A Finextra member 02 November, 2010, 07:22Be the first to give this comment the thumbs up 0 likes

Sorry, but there is nothing, and I mean nothing, which I would like to hear from my bank on Twitter.  Blogging and tweeting are something that people do, not institutions.  Institutional tweeting is just another word for advertising..of which I already receive enough.


A Finextra member
A Finextra member 02 November, 2010, 08:55Be the first to give this comment the thumbs up 0 likes

I'm curious to know, not so much which banks are using Twitter, but which are using it well. Will best practice evolve and allow it to get traction, or will it go the way of 2nd Life, banks on Facebook, et al? Also, Twitter is a 2-way medium - if you're going to transmit, you need to be prepared to receive. I suspect compliance will be the real Twitter-killer though - when every utterance must be signed off, it doesn't make it easy to have a conversation.

John Dring
John Dring - Intel Network Services - Swindon 03 November, 2010, 08:16Be the first to give this comment the thumbs up 0 likes

I agree with Mark.  A monthly email communique is about as much as I want to see from my Banks.  Lets face it, everything is geared to promotion, account stimulation and 'sales' of something.  Occasionally there is a useful reminder or article, but too often its a loaded survey or questionnaire invitation.

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