In the age of ubiquitous mobile devices and 1.5 billion Facebook users (give or take a few million), it’s clear banks can’t keep their employees from social media. That opens bank systems to attacks via phishing and social engineering. But social media can also be useful for networking and tappingRead More
Post Tagged with: "social media banking"
Messaging apps dominate smartphone use, particularly by millennials, so shouldn’t banks want to be where their customers are? Craft Silicon, based in Nairobi, Kenya, certainly thinks so. It aims to help banks connect with customers by bringing simple banking functionality to messaging apps. At FinDEVr in New York Wednesday, CEO Kamal BudhabhattiRead More
Social media is thought of as a separate universe than other digital channels, but there is significant overlap, and banks should take advantage of this.
There’s no secret how challenging it is to make money off of low-balance, “free-checking” customers. (Just ask M&T.) But Social Money‘s president, Scott McCormack, thinks he has a pretty good solution under his roof, and soon he’ll have the clients to prove it. One client is slated to sign ontoRead More
Venmo may have cutting-edge, person-to-person payments technology, but its latest marketing effort is decidedly old school. PayPal-owned Venmo closed out 2013 and open 2014 like it was 1999: plastering print ads around New York. The ads feature a young man named Lucas, who is an engineer at Venmo, according to theRead More
When Brett King speaks, HSBC listens. Eventually. Author and CEO of bank startup Moven Brett King was surprised to find that his HSBC business account had been closed without warning on the Friday following Thanksgiving. He took to the phone, then to Twitter, where the incident caught the attention of industry watchers.Read More
You’ll soon be doing your banking on Facebook, but maybe not in the way that you think. Earlier this week, Sprinklr’s Ragy Thomas pointed to a future where bank transactional experiences would be embedded into social media experiences. If that seems implausible to you, it’s time to adjust your expectations.Read More
“Banks’ social spend is going to increase 10x in the next five years,” says Ragy Thomas, CEO of social management tool Sprinklr. Ragy’s personal interests aside — he does, after all, sell a social media management tool — this should be a wake up call for bankers to look hard at howRead More
There will soon be two more ways to use your phone instead of your wallet to pay back your friends for dinner. Two new startups offering person-to-person payment functionality have appeared on the scene: Paidly and Cashtag. Neither is yet available — Paidly is set to launch within six months,Read More