Comments on: A complete stranger told me … | The power of wesabe http://thebankwatch.com/2008/07/17/a-complete-stranger-told-me-the-power-of-wesabe/ Tracking the evolution of financial institutions Mon, 13 Feb 2012 00:48:52 +0000 hourly 1 http://wordpress.com/ By: Jep Castelein http://thebankwatch.com/2008/07/17/a-complete-stranger-told-me-the-power-of-wesabe/#comment-25702 Thu, 24 Jul 2008 20:26:35 +0000 http://thebankwatch.com/2008/07/17/a-complete-stranger-told-me-the-power-of-wesabe/#comment-25702 I’m interested to see when the first major bank will add social features, such as discussions between customers about investment strategies. They seem to monitor what happens in the startup space and copy the features that work. For example, Bank of America introduced account aggregation, probably inspired by mint.com and other startups.

]]> By: Eric Dolan http://thebankwatch.com/2008/07/17/a-complete-stranger-told-me-the-power-of-wesabe/#comment-25653 Thu, 17 Jul 2008 15:31:38 +0000 http://thebankwatch.com/2008/07/17/a-complete-stranger-told-me-the-power-of-wesabe/#comment-25653 No argument there…nonetheless, a central issue for wealth management is simply acknowledging the channel. Since conducting the research, I’ve found that the mere volume of investors using social media is fascinating to many brokerages (full serve & direct alike). The goal of the research was to really get a lay of the land and provide a cross-section of what investors are doing online and the role of social media in the decision-making process. Of course, for this industry, compliance, etc. is more of an obstacle than in, say, retail or travel. Therefore, the first step is not always to engage, but rather to notice. Thoughts?

]]> By: Colin http://thebankwatch.com/2008/07/17/a-complete-stranger-told-me-the-power-of-wesabe/#comment-25652 Thu, 17 Jul 2008 15:23:32 +0000 http://thebankwatch.com/2008/07/17/a-complete-stranger-told-me-the-power-of-wesabe/#comment-25652 Thanks Eric … that kind of stat is the right kind to make the business connection between social media and actually conducting business. But we need more … I know lots of people using social media, and the demographic shifts support and all, however the desire to conduct business using social media rather than traditional face to face in a branch remains weak.

]]> By: Eric Dolan http://thebankwatch.com/2008/07/17/a-complete-stranger-told-me-the-power-of-wesabe/#comment-25650 Thu, 17 Jul 2008 15:11:37 +0000 http://thebankwatch.com/2008/07/17/a-complete-stranger-told-me-the-power-of-wesabe/#comment-25650 (from the author) This is one of the more interesting findings from Cogent’s research on social media’s impact on personal finance and investing. In addition, >60% of affluent investors told us that they have CHANGED investments (i.e., increased or decreased investment in product or with company) as a result of something they saw, heard, or read on social media. Check out more comprehensive post here:

http://blog.cogentresearch.com/the-five-reasons-financial-services-firms-need-a-social-media-strategy/

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