Banking 2.0: Only good for small financial institutions and online banks

First, I invite you to read my post entitled "Banking 2.0: 10 "good" reasons not to embrace social media".
I listed the 10 reasons I hear the most frequently against social media in the banking industry.

My goal is to convince my peers that banks must embrace social media and web 2.0 now.

It gives us a unique opportunity to connect not only with our clients, but the whole market. It gives us the opportunity to show we listen and we care. It will help us drive customer advocacy.

I will publish a video response for every single reason I listed. Please find below my response to the question large, well established, banks ask themselves: "why should we embrace Social Media?"
 
Should a well established bank embrace Social Media?

Contribute... and challenge me!
What do you think a my video (content, format)?
I created the initial post to start a discussion. An interactive online discussion.
Please don't hesitate to leave a comment and add a new reason to the list: challenge me! I will post a video response for every single additional reason.

Related articles on Visible-Banking.com
* 10 "good" reasons not to embrace social media
* Video - The 4 kinds of social media projects
* Christophe Langlois, Founder of Visible-Banking.com

Comments

[Kelly Rusk]

Unfortunately the biggest hold back, particularly with big banks, is to successfully participate in social media, there's a necessary attitude shift--transparency, accountability and the willingness to accept that people are going to talk about you and sometimes it may be negative.

For anyone engaged in social media it's pretty obvious that the benefit far outweighs the risk, but convincing big banks is definitely going to be tough.

Great topic and video. And good luck with your goal!