It is always a pleasure to find out about new online initiatives from Caja Navarra. Yesterday, I received an update from Fernando Egido, Head of Digital Business – Innovation and Strategic Deployment Area.
I have known Fernando for a couple of years now; I invite you to watch the interview I shot with him at the BarCampBank Madrid in November last year. Fernando was supposed to share his hands-on experience at my recent social media workshop in Madrid, but he had to pull out at last minute to attend an important meeting about the innovative Banca Civica group launched by three Spanish saving banks: Caja Canarias, Caja de Burgos and of course Caja Navarra. The idea is to take Caja Navarra’s Civic Banking model to the next level. Fernando will lead social media for the new group, and I very much look forward to finding out how innovative they will be in that space.
Please find below an extract of the email Fernando sent me:
“I would like to show you some our latest releases:
* Social Footprint: This KPI intends to help our in client’s election, giving info about social impact of the project they choose. The civicfootprint is determined according to its social efficiency, the public subventions it receives, its positive social externality (the image it conveys) and the number of times it is chosen by Caja Navarra customers.
There are other two tools we have developed to help social entities to spread their message, to give them more visibility in Internet and to help to raise more elections (and consecuently more funds):
* Facebook Integration: All social project are now integrated with “I like” facebook button, so clients that check this, publish in their profile that they are supporting the project, and their networks will be able to see this.
* Social Widgets: One of the issues we detected was that there was no way to check the project elections status outside our website, and social entities were forced to create direct links to project description page located in CAN. With this social widget any social entity or supporter can publish a widget in his blog or website giving realtime information about the project status.
You can check an example of this new features in this link:http://bit.ly/ayyaYa ”
My Take on Those New Features
I find the notion of social footprint interesting. It is going to be interesting to keep track of it, benchmark the various initiatives, and better understand how much of an impact Caja Navarra’s customers made. I am curious to find out how the bank will use that indicator, and more importantly how they will use it as a REWARD tool potentially for both contributors and the projects.
I am not so excited or moved by the other two additions Facebook “integration” and social widget. Don’t get me wrong, it is a good initiative, but you can’t do much with them and from my opinion they should have implemented those additions at least a year ago. The bank can definitely do better!
I wonder how many people would use the widget on their blog or any of their social media profiles. Regarding facebook, ok it is some kind of basic integration, but I would see far more value using facebook connect for instance, or launching an application “a la Chase”. And am I the only who can’t help to wonder where twitter is?
Civic Banking 2.0? Not quite yet, but the Bank is Getting There
You may find my post title a bit controversial. But let me tell you where I am coming from.
Over the last five years, you can’t deny that the spanish saving bank did a great job reinventing itself and putting transparency and proximity at the center of its strategy. And when they started to leverage social media withtheir community blogs (over 800 blogs), they became one of the first financial institutions to give a voice to not only their customers, but also local entrepreneurs and charities. That is still a brilliant initiative.
My main disappointment is in regards to their corporate social media presence of the bank, and the promising cancha24 service they launched more than 6 months ago.
Social Media Presence: CAN is starting to catch up
Even though they have promoted their social media assets at the bottom of the homepage for a long while, they have just started to see some traction on communities like twitter or facebook.
For far too long, they struggled to reach a critical mass of members (users, followers, fans) on those popular sites. Of course, I have high expectations for CAN: it is such a great model, and they help so many associations and charities to make a positive impact locally.
Cancha24 still hasn’t taken off
Again, I had high expectations for their innovative cancha24 service launched at the end of 2009. The idea was to provide a high quality of service and support to their clients on social media sites and other new digital media.
In all fairness, Fernando and his colleagues have been busy putting together the value proposition and setting up the organizational structure for Grupo Banca Civica. Now that it took off the ground, I expect the team to quickly take its cancha24 project to the next level on twitter and facebook. And I would be delighted to give a hand and make a humble contribution to the success of the new group.