How Will Social Networking Meet and Greet Financial Institutions?

Analyst: Bill Bradway

December 10, 2009

We could ask, can or should social networking meet and greet financial institutions? Each variation of the question provokes a challenge to financial institutions. Bank and credit union execs should consider their “can” and “should” answers for their particular institution, its IT and Internet infrastructure, business objectives and strategies for customers, products, and channels and staff resources. The “will” question really elevates the social networking issue to the industry level.

The latest generation of social networking covers a range of Web-based domains and related, independent and autonomous processes, including Facebook, MySpace, Twitter, LinkedIn and blogging. This analysis is about how bank and credit union execs should consider the value of social networking. There are four primary value propositions associated with social networking in banking

• Where is social networking headed for consumers and businesses, financial institutions, and their FinTech vendors?
• How should institutions prioritize social networking with other “virtual” application initiatives like mobile banking, mobile payments, and online PFM?

Read more to find out how to receive access to this and other A & O Briefs.

Bradway Research permits the purchase of an individual Analysis & Opinion Brief for internal use by the purchasing party. We use PayPal to complete all online purchase transactions. Plese click on the "Buy Now" button to use PayPal's credit card transaction service. Once the transaction has been completed and notice is received from PayPal, you will receive the A & O Brief by email. Please contact us at info@bradwayresearch.com if you have additional inquiries.