Royal Bank of Canada (RBC) is looking to tap the 'Facebook generation' with the launch of a financial advice blog written by students that can be accessed via its fan page on the social networking site.
The bank has selected six full time post-secondary students at Canadian universities to write daily blogs on money management.
The blogs, along with videos, are available through the bank's Web site as well as the "RBC Bankbook" page on Facebook.
RBC says its research shows students want help in making informed financial decisions but feel too intimidated to approach a bank.
Last year analyst house Javelin Strategy encouraged banks to open their own blog sites as a way of strengthening brand management and customer loyalty.
The US research firm surveyed over 3500 consumers and found that one-in-five read blogs, rising to 34% among the more affluent tech-wise surfers.
But the study found less than one per cent of financial institutions had opened blogs, and warned that banks are largely losing control of discussion about themselves in the 'blogosphere'.