Blog article
See all stories ยป

Object reference not set to an instance of an object.

Comments: (3)

A Finextra member
A Finextra member 08 May, 2012, 16:59Be the first to give this comment the thumbs up 0 likes

US consumers are starting to be ready to use social media for actual banking interaction, right now, according to Javelin Strategy & Research data. From a US nationally-represenative survey, 15% of young adults are ready for social media banking transactions now, so it's safe to say that customer service is an even better bet for banks right now. 

The holdup on social media banking is with banks, not consumers. 

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 08 May, 2012, 18:26Be the first to give this comment the thumbs up 0 likes

@JamesVD:

Thank you for your comment. Your research resonates well with my personal observations among GenY's preference for social media banking. 

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 05 June, 2012, 12:21Be the first to give this comment the thumbs up 0 likes

Don't know how long the party will last but, for now, some banks are conscious about their social media image and address social media QRCs (Queries, Requests & Complaints) at lightning speed. One of my banks keeps spamming my Facebook News Feed with fairly irrelevant offers but, when it moved branch where I hold my account, it didn't bother to inform me about the relocation. I complained about this ironic behavior in a comment in response to one of its FB offers. Lo and behold, there was a flurry of activity from the bank's side. I can confirm that 48 hours, 3 telecons and 2 emails later, the bank has resolved my complaint to my satisfaction.