Will Social Media Change Banking?

by Jay Deragon on 05/26/2010

The banking industry needs to transform itself from a transactional business model to an engagement model.

Banks make money on our deposits, our transactions and lending us money. The economic models for banks are old and subsequently there is little differential from one bank to another. The customer experience is largely the same and yet bank after bank uses the tag line “relationship banking.” Bank relations do matter just like any organization selling products and services but the dynamics of relationships are changing and so must the banking industry.

Think about the image we have of banks: a brick building we rarely go into with people behind a counter and the manager sitting in an office with plush furniture. What do these people do? They manage relationships, transactions and the more they manage the more they make.

What Would a “Social Bank” Do?

If banks would take advantage of social technology they could in fact create a “new system” that fueled transactions. Banks could set up a “social network” exclusively for banking customers to create profiles about who they are and what they do as well as a listing of their products and services. Banks could establish a “community” for customers to integrate their social media which would create a “digital marketplace” of conversations. The conversations could be tagged and categorized by interest and customers could find answers to common business questions. Answers to these questions represent a “marketplace” which in the end creates an exchange of value requiring more transactions.

Will Banks Leverage Social Media?

The Financial Institution’s Guide to Social Media”.

A Must See Webinar Series for Financial Services Marketers.

Thinking about a social media strategy, but aren’t sure where to start, and then how to proceed?

Do you wonder how banks that are using social media feel about its value, risks and ROI?
Would you like to have a clear set of procedures to get through the regulatory and compliance issues that might be holding your financial institution back from social media participation, or, from taking it to the next level?

Would you like to see examples from some of the top financial services institutions in the country, who are using social media to their advantage?

Have you wondered how to stay on top of the many social media conversations that are about you and/or your competitors?

These are just a few of the many critical issues that will be addressed in a series of webinars sponsored by Financial Publishing Services, Inc.. Chances are; this is the most important webinar should  attend all year.

We’ve pulled together the finest in the fields of social media consulting, compliance, and monitoring, all specific to the unique perspective of financial institutions.

Here’s the line-up:
June 1, 1 p.m-2 p.m. EDT

Getting started: the who, what, where, how and why of social media.
Jay Deragon
Social Media Strategist, Social Media Directions, Specializing in the financial sector

June 8, 10 a.m.-11 a.m. EDT

What’s working in social media for financial institutions? What pitfalls to be aware of, and how to overcome them.

Brett King
Author of BANK 2.0, CEO, User Strategy. Board of Governors at the
International Academy of Financial Management.

June 17, 10 a.m.- 11 a.m. EDT
Financial services social media monitoring; staying on top of social media conversations.

Christophe Langlois
CEO, Visible-Banking.com. Helping Financial Institutions worldwide to better UNDERSTAND and LEVERAGE social media.
June 22, 1 p.m. EDT
Working through regulatory and compliance issues on social media.

Sharon Blanchette
CPA, CIA, MBA, Asst. Director, ICS Compliance

Host and moderator, sessions 1-4
Why content is the glue of an effective social media strategy.
Christine Durkin
Director of Content-Marketing, Financial Publishing Services

Schedule conflict? No problem. Each session will be available for on-demand viewing at your convenience. Reserve your seat today, here

{ 39 comments }

Petr Macek (marketing) November 5, 2010 at 5:12 am

Sorry I missed this, now I am preparing a strategy proposal for my financial services client and having seen the webinar would have helped me a lot. Is there a recording of it?

Laura July 27, 2010 at 7:50 pm

I think that social media will definitely change banking. Its changed almost everything else in our lives, so why not that?

Jesse Koskinen July 12, 2010 at 5:37 am

RT @linjaaho: RT @nikonaakka: RT @ttalola: Will Social Media Change Banking? http://ow.ly/28Cv6

Vesa Linja-aho July 8, 2010 at 8:15 pm

RT @nikonaakka: RT @ttalola: Will Social Media Change Banking? http://ow.ly/28Cv6

Niko Naakka July 8, 2010 at 12:37 pm

RT @ttalola: Will Social Media Change Banking? http://ow.ly/28Cv6

socialmedia247 July 8, 2010 at 12:34 pm

Will Social Media Change Banking? http://ow.ly/28Cv6: Will Social Media Change Banking? http://ow.ly/28Cv6 http://bit.ly/cIQ9su #socialmedia

Tuomas Talola July 8, 2010 at 12:33 pm

Will Social Media Change Banking? http://ow.ly/28Cv6

Ignacio June 7, 2010 at 4:22 am

Will Social Media Change Banking? |: Ein Ausblick auf Veränderungen in der Bankenwelt http://bit.ly/c9ZaTC

bcadGroup June 6, 2010 at 9:24 pm

Any thoughts from those in the financial industryRT @hardbootinc: RT @TopsyRT: will Social Media Change Banking? http://bit.ly/c7j9px

Jeffery Potvin June 6, 2010 at 6:20 pm

RT @TopsyRT: Will Social Media Change Banking? http://bit.ly/c7j9px

Nerissa Lacle May 31, 2010 at 1:15 am

RT @TopsyRT: Will Social Media Change Banking? http://bit.ly/c7j9px

ingenesist May 28, 2010 at 9:20 pm

RT @JDeragon: ReThink: Will Social Media Change Banking? http://bit.ly/cY4TtJ

patrick galvin May 27, 2010 at 3:34 pm

Will Social Media Change Banking? | http://bit.ly/bHzQM0

Dr John Ortner, DBA May 27, 2010 at 12:15 am

Will Social Media Change Banking? | http://ht.ly/1QpuU

Andrew Wanta May 26, 2010 at 10:52 pm

Will Social Media Change Banking? | http://lnkd.in/QP_JNk

Don Mitchell May 26, 2010 at 3:33 pm

I'm planning on virtually attending this Webinar. If anyone out there wants a summary of the what the experts say, let…http://lnkd.in/akbBAE

Johanna Llorente May 26, 2010 at 12:09 pm

@michellecheri #Webinars on #financial institutions & #Sm [email protected]: ReThink: Will Social Media Change Banking? http://bit.ly/cY4TtJ”

JDeragon May 26, 2010 at 10:25 am

Will Banks Leverage Social Media? http://bit.ly/9r4X3D

Joe Grasso May 26, 2010 at 10:20 am

Will Social Media Change Banking?: The banking industry needs to transform itself from a transactional … http://bit.ly/bHzQM0 [email protected]

smconnection May 26, 2010 at 10:20 am

Will Social Media Change Banking?: The banking industry needs to transform itself from a transactional business mo… http://bit.ly/c9ZaTC

ThreeShipsMedia May 26, 2010 at 9:15 am

KT: Interesting take on how social media could transform the banking industry: less "transactional," more engaging http://bit.ly/biiZ2H

Gavin from Sendible May 26, 2010 at 8:01 am

Will Social Media Change Banking? – http://bit.ly/b2Nl3V

textpack May 26, 2010 at 7:21 am

Will social media change banking? http://bit.ly/9p0sLA

Johanna Llorente May 26, 2010 at 7:09 am

@michellecheri #Webinars on #financial institutions & #Sm [email protected]: ReThink: Will Social Media Change Banking? http://bit.ly/cY4TtJ”

Arnold Melm May 26, 2010 at 6:23 am

Will Social Media Change Banking? | http://bit.ly/bW2Uy2 #socialmedia #PR #Journalismus

Paul Mayo May 26, 2010 at 6:21 am

Will Social Media Change Banking? http://j.mp/d3neY2

Allen Howell May 26, 2010 at 5:55 am

RT @TopsyRT: Will Social Media Change Banking? http://bit.ly/c7j9px

????? Koko Nakahara May 26, 2010 at 5:39 am

RT @sfsocialmedia: Will Social Media Change Banking? http://bit.ly/c5z17K #news #socialmedia

JobShoots May 26, 2010 at 5:38 am

Will Social Media Change Banking? http://bit.ly/c5z17K #news #socialmedia

JobShoots May 26, 2010 at 5:38 am

Will Social Media Change Banking? http://bit.ly/c5z17K #news #socialmedia

card4net May 26, 2010 at 4:48 am

RT @TopsyRT: Will Social Media Change Banking? http://bit.ly/c7j9px

Social Network (RSS) May 26, 2010 at 4:41 am

Aron Stevenson: Will Social Media Change Banking? http://bit.ly/bHzQM0 #socialmedia: http://bit.ly/bS9NH0

Aron Stevenson May 26, 2010 at 4:40 am

Will Social Media Change Banking? http://bit.ly/bHzQM0 #socialmedia

Achievers Network May 26, 2010 at 4:40 am

Will Social Media Change Banking?: The banking industry needs to transform itself from a transactional business mo… http://bit.ly/c9ZaTC

prblogs May 26, 2010 at 4:40 am

RelationshipEcon: Will Social Media Change Banking?: The banking industry needs to transform itself from a transac… http://bit.ly/c9ZaTC

The Social CEO May 26, 2010 at 4:37 am

The Social CEO Will Social Media Change Banking?:
The banking industry needs to transform itself from a transacti… http://bit.ly/a2Dua2

Angela Suddarth May 26, 2010 at 4:37 am

[email protected] Will Social Media Change Banking?:
The banking industry needs to transform itself from a transactiona… http://bit.ly/a2Dua2

StarGazon May 26, 2010 at 4:36 am

Will Social Media Change Banking? via The Relationship Economy – The banking industry needs to transform … http://tinyurl.com/26p4muf

JDeragon May 26, 2010 at 4:32 am

ReThink: Will Social Media Change Banking? http://bit.ly/cY4TtJ

Comments on this entry are closed.

{ 6 trackbacks }

Previous post:

Next post: