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Banks Can’t Do Social Media [Financial Services Forum + Linkedin]

Banks can’t do social media.  This is how I first engaged the audience at the ‘The New Balance of Power‘ event organized by the Financial Services Forum in partnership with Linkedin.

Yesterday, James McErlean – Category Head EMEA Finance Linkedin and Andrew Porter – Vice Chairman of the Financial Services Forum invited me to chair the discussion panel at their event on social media in financial services.

It was a pleasure to contribute to the success of my fourth FSF event on social media in banking as a speakers or chairperson.

They put together a superb panel of banking visionaries with a hands-on experience of social media:
* Nathan McGurl – Interim Digital and Social Media Consultant at Lloyds Banking Group
* Kevin Traynor – Vice President Digital Marketing EMEA at BlackRock & iShares
Robert Wint – Head of Digital Marketing at Barclays Bank
Carl Barkey – Head of Social Media Customer Engagement at American Express

Now, I invite you to watch my video wrap up where I will talk you through some of the speakers’ key comments and initiatives.
You will also find out why I started in a rather controversial fashion…

The banking industry is extremely late with social media: I am having the same conversations now that the ones I had back in early 2007:  Banks still suffer from the “pandora’s box syndrom“, they still struggle with ownership and content, and they are far from tapping the voice of the customer.  Social business seems more promising in the short term.

But now that social media is one of the banking industry’s top 5 risks, things might just change soon.  Social conversations monitoring solution providers, be ready to boost your sales.  Crowdsourcing solution providers, hold your horses for a bit longer.

So after watching my video, do you agree with me?  Join the conversation here or on our facebook page!

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