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Four ways social media is transforming banking

Social networking may have started out as a light-hearted social experiment, but it has evolved into a full-blown sales and marketing platform for banks.

The banking industry has begun to sit up and take notice as banks' clients (including the baby boomers who have the majority of assets in banks) use social tools to navigate family events, opinions and plans – all part of the customer relationship that banks want to build. Banks are reacting with their own Twitter traffic, Facebook pages, social products and customer service in more social models: feedback, ratings, YouTube videos, and often a new, more social face for the bank.

Read more from this article by Bank Systems & Technology by clicking here.

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