Using Social Media in the Banking and Financial Sectors

Allan wrote a post in July on building a social media marketplace in financial services.  There have been a few posts in recent news that highlight this issue of using social media concepts and tools in the banking and financial sectors, so I thought I’d take a moment to highlight a few.

• Banks & Social Media – Will Slow & Steady Win the Race? (B2B Bliss) “It’s clear social media is changing the industry.  But, engagement is a different story.  Regulations and compliance issues still hamper many banks from embracing the truly “open transparency” social media requires.”

• 5 Ways Banks are Using Social Media (Mashable) “By embracing the most popular tools available, the industry has also been embracing the best of what social media culture has to offer, and smaller, community banks seem to be leading the charge when it comes to social media innovation.”

• Integrated social media + financial marketing (The Financial Brand) “The Financial Brand sat down with Tim McAlpine, president and creative director of Currency Marketing, to talk about integrated social media marketing for financial institutions.”

• British bank launches site highlighting customers social media thoughts. Good and bad…but more good (The Next Web) “First direct, a division of HSBC, has launched a microsite devoted to highlighting its customers opinions from across the web.”

• Social Media, Brands and Culture in the Finance Sector (Anne McCrossan)

View more documents from Anne McCrossan.

• And for reference: Ongoing list of Social Media Efforts from Banks, Credit Card, Financial Institutions and Lenders (Jeremiah Owyang)

Update: An article with thoughts from some one of our readers, @podcaststeve, “Bankers conference highlights opportunities, pitfalls of social networking” (In NJBIZ)