Social Media and the Bank's Strategic Goals

Posted by Meghana Hermes on January 14, 2020

This article was originally published to ABA Banking Journal.

To find out how banks are now managing social media—what they’re doing right and what obstacles still persist—the American Bankers Association surveyed more than 430 banks of all sizes. The 2019 report, The State of Social Media in Banking, provides a detailed status on where banks stand on social—and what’s changed in recent years. Here we take a look at how banks are using social media to advance their strategic goals.

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Topics: Social Media for Banking, strategy, social media study, ABA

Social Media Moves at Lightning Speed. Here’s How Banks Can Keep Up.

Posted by Ben Timmons on January 7, 2020

Today’s consumers are used to getting information when and how they want it. PwC reports that almost 80% of U.S. consumers identify “speed, convenience, knowledgeable help, and friendly service” as the most important attributes of positive customer experiences. That’s why slow, inefficient social media content creation and approval processes can lead to a perception of poor customer service — which can eventually cause you to lose important customers.

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Topics: social media content, Social Media for Banking, Social Selling, Social Listening

3 Ways a Bank Can Create Culture Ambassadors

Posted by Josh Schwartz on May 21, 2019

 

This article was originally posted to the   ABA Banking Journal .

A “culture ambassador” is essentially a company cheerleader—someone who’s always engaged and enthusiastic about building, maintaining, and sharing an excellent culture within a workplace. Banks need culture ambassadors to show both potential customers and potential employees what separates them from the competition. After all, a bank’s culture goes beyond a logo, some standard messaging, and a service line. It’s about the brand personality.

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Topics: Social Media for Banking, Social Media Marketing, Employee Advocacy

3 Ways to Improve Your Bank's #Cybersecurity Today

Posted by Mikki Ware on October 4, 2017

If you’re a banker, there’s a pretty good chance you’ve been there, done that, and gotten the t-shirt when it comes to understanding social media risk. Regulatory compliance – check. Reputation management –  check. But there is one more shadowy figure that has stepped into the spotlight in the last few years: cybersecurity. Even though security breaches aren’t necessarily associated with social media use, adding any element that introduces a third party can be a potential threat. The most recent breach occurred in July 2017 when Equifax was hit by a record-breaking hack that affected as many as 2.5 million people.

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Topics: compliance, Compliance, Cybersecurity, cybersecurity, gremlin, Reputation Management, social media, social media compliance, social media for banking, Social Media for Banking, social media monitoring

Social Media Risk Management Programs for Banks, Step 3: Training

Posted by Mikki Ware on July 5, 2017
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Topics: Compliance, Social Media Education, Social Media for Banking

3 Ways Financial Social Media Is Like Mother's Day

Posted by Mikki Ware on May 12, 2017


This weekend, we celebrate the women who have given birth and nurtured us our entire lives. But believe it or not, figuring out what will make mom feel special can be tricky business. Doing nothing obviously isn’t an option, but doing the wrong thing is risky as well. You know you have to do something, but where do you start? Social media for the financial services industry is equally perplexing, so here are three ways to mitigate your social media fears.

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Topics: Social Media, Social Media for Banking

How to Use Social Media to Win Customers

Posted by Jenny Watz on May 5, 2017

Are you using social media to connect with your customers and your community? How important is social media to your bank? It’s safe to say that social media usage among banks is still in its formative stages, even though 76 percent of banks polled in a recent survey either agree or strongly agree that social media is important to their bank. In that same study from the American Bankers Association (ABA), roughly one-fourth of respondents said their banks had been using social media for five or more years, while just 12 percent had been using social media for less than a year. Nine percent of banks surveyed indicated they didn’t use social media at all to reach their customers. If social media is recognized as such an important marketing tool, why are banks slow to embrace it?

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Topics: Social Media for Banking, Social Media Marketing

Beyond the Breach: Cybersecurity and Social Media

Posted by Mikki Ware on May 3, 2017


If you’re in a regulated industry, there’s a pretty good chance you’ve been there, done that, and gotten the t-shirt when it comes to understanding social media risk. Regulatory compliance – check. Reputation management –  check. But there is one more shadowy figure not often discussed: cybersecurity. Even though security breaches aren’t necessarily associated with social media use, adding any element that introduces a third party can be a potential threat. In 2014, large-scale breaches at JP Morgan Chase and several big box retailers resulted in financial firms pledging to increase cybersecurity budgets by $2 billion. In 2015, FINRA released its Report on Cyber-Security Practices, which offered risk management practices for financial firms. 

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Topics: compliance, Compliance, Cybersecurity, cybersecurity, gremlin, Reputation Management, social media, social media compliance, social media for banking, Social Media for Banking

Top 10 Reasons Banks Use Social Media

Posted by Jenny Watz on March 24, 2017

OK, you’re ready to start using social media, so now what? First, you need to decide what you’re trying to accomplish. What do you want people to know? Are you hosting an event within the community? Do you have a new product? You can use social media platforms for these reasons and more.

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Topics: Social Media, Social Media for Banking

National Consumer Protection Week: Tips for Avoiding Identity Theft

Posted by Jenny Watz on March 8, 2017

Do you know your credit score? Why does it even matter? Is your personal information safe? What should you look for when making big purchases like a car or a house? How can you identify online frauds and scams? There’s no better time than during National Consumer Protection Week, March 5-11, to educate yourself about these topics and more.

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Topics: Social Media for Banking

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