The Bankwatch

Tracking the consumer evolution of financial services

Wiki’s are not for everyone; banks can use for thought leadership

There is much talk about the importance of Web 2.0 and a new sub thread is evolving on the use of such tools within the enterprise, so lets look at Wiki’s in particular.

Andrew speaks eloquently here but I fear this school of thought is getting too caught up in the technology, and generalising about the tools.  Typical Web 2.0 tools are quoted as Wikipedia, Flickr, MySpace,, Digg, and I would agree on most of what is discussed on the utility of those tools, particularly with the inclusion of blogging. I think the customer interface and connection with the average user for these tools will need to be improved to be useful for everyone, but the basics are there.  Tagging is a great example with leading that charge, but their interface is horrible.  Nonetheless I remain convinced tagging will be core to online banking in the near future.

The exception could be wiki’s – useful as Wikipedia is, wiki’s are at best clunky and awkward for the average person.  These statistics quoted on the Church of the Customer bear that out.  Only 1-2% of wiki users actually contribute.  This is not a bad thing, but it suggests Wiki’s are good for sharing evolutionary thoughts on an interest, authored by a few core leaders, and read by many.  Wiki’s are not a tool for work sharing and interaction, which assumes equal participation.


Relevance to Bankwatch:
Many powerful tools are appearing, and they will change online banking.  In particular, three tools to watch that smart Banks will lever are:

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Written by Colin Henderson

May 7, 2006 at 01:48

Posted in Debit cards, Web/Tech


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