The Bankwatch

Tracking the consumer evolution of financial services

Google plan for social networks

When Google get serious about something its worth noting, just so that we can understand the impact on the web lifestyle.  Google Socialstream appears to be an effort to provide an aggregated view of a consumers social networking activity. 

Socialstream

Prototype Goal: Create a system for users to seamlessly share, view, and respond to many types of social content across multiple networks.

Socialstream is a consumer view of all their online social contacts.  The central question here is the direction to social networks as an application layer.  FaceBook have introduced the F8 platform, that provides functional capability well beyond social chitchat.

Relevance to Bankwatch:
Banks need to understand how future consumers will use interact, and more importantly expect their services to be available where they need them.  This is a new concept.  It suggests that online banking at bank.com is not adequate.

Why does bank.com not come to me in my space?  This implies online banking capabilities must be available within the consumers space.  Online Banking at bank.com may not be enough for Gen X/Y consumers.  If consumers increasingly expect their online activities to centred within their social network, then online banking capabilities need to be there too. 

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Written by Colin Henderson

July 12, 2007 at 22:53

2 Responses

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  1. In Brazil and India Orkut is a thriving Google Social Network. It’s a close one though.

    icontract

    July 13, 2007 at 00:29

  2. @Nishad … yes somehow Orkut does well there, but its no-where in North America.

    Colin

    July 13, 2007 at 18:23


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