This morning I read this post by Chris Skinner praising First Direct for being the first UK bank to really ‘get’ social media. I was delighted to see a UK bank finally taking advantage of social media in a convincing way.
Ironically I first met Chris when we asked him to blog for SWIFT’s own social media platform: swiftcommunity.net. So, he and I both know how reticent the financial services industry can be when it comes to interacting with its customers and peers online.
Financial services – and banking in particular – remains in many ways a very old-fashioned business. Its practitioners are trained to be risk-averse, it’s part of the DNA. Indeed, as far as looking after my money and yours is concerned, we can probably agree that that’s no bad thing.
When it comes to retail banking though, customers increasingly expect to be able to have their say. Giving them the opportunity to do so, being transparent about it and – here’s the crucial bit – tackling the negative as well as the positive feedback in a public forum, would prove a fantastic brand building strategy for any bank that had the courage to do it first.
That bank is First Direct.
Head on over to the Financial Services Club Blog to read Chris’ full post.