efma - christophe langlois "banking 2.0: ugc, social media & web 2.0"

User Generated Content

a Big opportunity, not a major Risk

Christophe Langlois, Founder [email protected]

Online financial services 2007 - Towards financial web 2.0Thursday 29 November 2007, Barcelona

My objectives today

Towards Financial web 2.0How can we take advantage of new technologies

to create richer customer interactions?What is the impact of Web 2.0 social networks

on financial services?

Social Media guidelines

Panorama of some « banking 2.0 » initiatives

2Christophe Langlois, Visible-Banking.com

Visible-Banking.com: Banking 2.0 My goals

Urge banks to leverage web 2.0Share my passion about social media

How?Monitor key trends & blogsReview social media initiativesInterview industry experts & CEOsSpeak or cover leading conferences

Reviews

Categories


Visible-Banking.com: Interviews 2.0 Event coverage

Interviews 2.039 interviews (26/11/07): Social Networking

Personal Finance, Social Lending, Virtual Worlds


MyBankSucks.com 2.0

Having angry customers, not a new trend

The scale & the pace have changedWeb 1.0: Chat rooms, Forums, websitesWeb 2.0: blogs, rss feeds, videos/youtube

Web 2.0: giving the power to peopleClient expectation has changedPeople will always find a way: show you care!

Facebook / HSBC for students


Different web 2.0 projects, different risks James Gardner, Head of Innovation, Lloyds TSB

« Innovation is risky, yes but it can be managed as any other investment portfolios. And bankers are experts in risk management. »

There are 4 main types of web 2.0 projects« Behind the Firewall » – « Intranet 2.0 »Secure / Private: for clientsPublic: B-to-BPublic: B-to-C


Socialnetworking: facebook or not facebook What is your goal? Why would you reinvent the wheel?

Key challenges1. create a trusted network2. reach a critical mass of users3. engage them, urge them to contribute

and recommend your platform

Potential solutions1. tap into facebook?2. market your service in a timely fashion3. reward your members!

Your own network

Leading networks


Blogging: be honest, moderate & respond Key questions

What do people say? Does it matter? What should I do? Did it work?

Set up a reliable moderation process

Dedicate resources to Post content Monitor the blogosphere, comment bad & good posts

Key strategies Strongly branded vs discrete « powered by » logo Editorial team vs UGC Blog only vs online community


Virtual Worlds: provide richer experiences 3D internet helps provide richer experience

Virtual worlds are becoming part of a global communication mix

Key questions What is your goal? Who are you targeting? Which metaverse? - Beyond Second Life -

Bring your clients into these spaces

Key goals: test new product ideas & environments, enhance cust. support, recruit, encourage collaboration, foster innovation

Useful Behind The Firewall (BTW)


Personal Finance & Social Lending


Wells Fargo: the bank 2.0, today

VP Social Media

Virtual worlds: StageCoach Island (SCI)

Social networking: SCI MySpace page

Flash / tutorial: Handsonbanking.com

Blogging: 4 blogs, the Student LoanDown

Personal Finance: MySpendingReport

Video: Centerstage, UG video promotion


Blogs

Video promotion

Wells Fargo: StageCoach Island - upgraded Initially launched on SL in 2005

Teach young adults about financial literacy in a fun and engaging way

Buy virtual land and build homes Get virtual mortgages Open virtual checking accounts Apply for virtual credit cards Secure virtual jobs

“We’d like to offer you, along with some other prominent bloggers, a personal guided tour of the island.”


UGC & Web 2.0: a Big opportunity


Top blogs about innovation & banking 2.0 Visible-Banking.com NetBanker.com TheBankWatch.com TheBankChannel.com Bankervision.typepad.com MobileMoneyBanking.com Digital money Forum Chris Skinner on finextra community blogs


User Generated Content

a Big opportunity, not a major Risk

Christophe Langlois, Founder [email protected]

Online financial services 2007 - Towards financial web 2.0Thursday 29 November 2007, Barcelona

efma - christophe langlois "banking 2.0: ugc, social media & web 2.0"

Technology