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Social Media Customer Communication Boom or Bust for Banks?

While there is a buzz around social media today, it can be difficult to see how social media translates to the financial services market. Most banks have a presence on one or more of the top social media sites, and they are using this avenue to communicate product changes, service enhancements, and other items that are relevant to customers. But do customers want to join the social conversation – and how much are they “listening?”

Do you follow your financial institution on social media? If so, which ones? Please leave a comment on our blog!

For anyone who is interested, Wind River’s partner in processing TSYS, is pleased to offer you a complimentary copy of a recent research brief regarding social media and banking titled “Banking and Social Media: Customer Communication Boom or Bust?”. This study was completed as a follow up to their 2013 Consumer Payment Choice Study.

This brief is particularly interesting as it further explores consumer preferences and sentiment around social media and their financial institutions. Clients have requested more information around this topic after reading the previous research study and finding the research relevant to current internal discussions. The “Banking and Social Media” research brief is available for download here, or can be visited at http://www.tsys.com/solutions_services/Issuers/banking-and-social-media.cfm.

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