Links 26-31 July 2010 – Social Media News in Banking, Finance, Insurance

Links 26-31 July 2010 – Social Media News in Banking, Finance, Insurance

Please find below 11 blog posts and articles you may have missed last week.

Banking
Virtual Currencies
Banks should Capitalize on Growing Number of Financial Transactions over Social Media Platforms (by Global Intelligence Alliance)
Article on virtual goods and secure micropayments. Opportunity for banks: 1. Setting up virtual banks, 2 Facilitating secure online money transfer services, 3. Management services for virtual currencies, 4.Risk and liquidity management solutions for peer-to-peer banking services.

General – Social Media
Banks – Meet Social Media (by Zaid Rasid @ camilion)
Short blog post referring to Penny Crosman’s recent blog post Citi, USAA Execs Share Social Media Best Practices with insights from two active US banks in the social media space Citi and USAA.

How to Get Started in Social Media (by Jennifer Mendelsohn @ US Banker)
Down to earth, common but sensible, recommendations to kick start your social media stategy: 1. Know your objective, 2. Experiment, 3. Focus on relationships, 4. Discard old notions, 5. Measure ROI differently, 6. Consider the content, 7. Be authentic, 8. Decide who’s in charge, 9. Be realistic (I really like that one!).
Jennifer did a great job gathering some great insights from some of the most active US banks and credit unions in social media: Verity CU, First Mariner Bank, South Carolina Federal CU, Nicolet Bank, SunTrust…

Mobile Banking
ING Direct USA uses contests to promote mobile banking apps (by Dan Butcher @ Mobile Commerce Daily)
ING Direct USA Launches Enhanced Mobile Application (by ING Direct USA on Mobile Financial)

Risk & Compliance
Five-step social media risk management plan (by Debbie @ stuff.co.nz)

Virtual Games
56 Sage Street: Barclays online money-management game (by the Financial Brand)

Insurance
Putting the Fun Back into Insurance with Social Media (by Sabine McElrath @ The Social Media Current)
Build a Stronger Blog Community by Sharing and Collaborating (by ACollins @ Astonishing News)

Startups
How an Ambitious Startup Wants to Revolutionize Banking (by Jennifer Van Grove @ Mashable)
SmartyPig Allows Customers to Choose Level of Account Detail in Email Communications (by Jim Bruene @ Netbanker)

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