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You should be able to move your money as fast as you can make it. But the banking system today works about as speedily as the Post Office.
July 24 -
Consumers may not show banks the same type of love showered on companies like Apple, but financial services companies can still use social media to promote their brands and connect to loyal customers, according to a new study.
June 19 -
Banks are missing out on the channel's potential, some top financial execs said at this year's mobile banking summit.
June 11
In his
As one commenter noted, a perfect example of this creative lag can be seen in how financial institutions currently use social media – or rather, how they don’t.
''How much bureaucracy does it take for someone in a bank to post on Facebook [or] Twitter?'' BankerBud wrote. ''Quite a bit, in fact. You have manager review, compliance review, legal review, etc. before you even get to post a comment (if you are even allowed to).''
In a subsequent
It's hard to suggest financial institutions should use social media with reckless abandon. As Richard Magrann-Wells wrote on BankThink a year ago, in a
Another commenter postulated that it's not the government, per se, that has financial institutions slow on the Twitter.
''My experience at banks is they've always been wound up about media,''
How much social media vetting do you see in the industry? Is it necessary, and if so, why? Leave a comment below.
Jeanine Skowronski is the deputy editor of BankThink.
