BENCHMARKING SOCIAL MEDIA - VOICE OF THE CUSTOMER - CROWDSOURCING - WORD OF MOUTH IN BANKING, FINANCIAL SERVICES, INSURANCE (B2C - B2B - B2B2C - WORLDWIDE)
The Visible Banking Page on Facebook I was touched that after less than 48h, and just a few invitations sent, 12 people became fans of my page. Now, 10 days later, the page already has 39 fans.
I believe the success of any Social Media initiative is linked with
your ability to engage with your community and urge them to contribute.
It is critical to REWARD your members, your fans. Rewarding could mean
many things such as producing exclusive content, or giving visibiliy /
exposure to your contributors. I intend to do both on the Visible
Banking Page.
12.Matthew Aman, ex CTO at Yodlee (US): it looks like Matt is well connected in the Valley. Matt is an ex-colleague of Peter Hazlehurst and he is friend (on Facebook at least) with Aaron Patzer of Mint. Matt worked on Yodlee's next-generation Payments and Aggregation platforms.
Posted items I posted 8 items so far. please find below the latest 3 items: * B2B Spending On Social Networks Could Put Facebook Ahead of LinkedIn * Office of National Statistics: half of UK now banks online | The Industry Standard * Civic Banking: Pioneers in Banking 2.0
Don't hesitate to leave a comment.
Reviews There is still no review. Could you please take a few minutes to review my Facebook Page?
I hope you have already bought your ticket for Finovate 2008 in NYC on October 14th!
In the meantime, I invite you to check the conference demo lineup announced on NetBanker two days ago. It is another promising line up from Jim and Eric.
* mShift <mshift.com> MShift is the leading provider of Mobile Banking solutions in the US.
It is a competitor of Drew Sievers' mFoundry. mShift is active online too, they help a few Credit Unions to launch a Facebook application such as Keypoint Credit Union (November 2007), and SEFCU Credit Union (July 2008). I hope I will have the pleasure to interview their CEO, Awele Ndili. Coverage on NetBanker
* Inner8 <inner8.com> Discover the power of 8 - 15/09/2008?
* LendingClub <lendingclub.com> LendingClub is one of the most popular social lending sites, with Prosper and Zopa. They did a big marketing coup when they launched the service exclusively on Facebook.
Management team: Renaud LaPlanche - Founder & CEO, Patrick Gannon - SVP Lending. It is not everyday that a Frenchman creates one of the most innovative startups, especially in the booming Social Lending space. Well done Renaud!
* Pertuity Direct <pertuitydirect.com> Pertuity Direct is a financial services company which aims to bring the next generation of social lending to the web. They will launch in September 2008.
* SmartHippo <smarthippo.com> SmartHippo.com is a vertical search engine and comparison shopping service for financial products. We are the first-ever site that uses the power of community to help consumers find the best finance rates and save money.
I am not sure if they are coming, but I look forward to meet with the Senior Management of the company, people like Luke Sontag - Co-Founder & President or Mitchell Savage - EVP (Mitchell presented at FinovateStartup for Confident Technologies).
To find out more about Vidoop, I invite you to check their blog.
* Wesabe<wesabe.com> Wesabe was the first PFM online community ever launched, back in 2006. It is one of the most innovative startups out there. The latest addition to their service was to offer the option to update your Wesabe account in "real-time" via the hugely popular twitter.
Marc Hedlund became CEO after Jason Knight stepped down due to personal reasons (Jason, we all hope August's condition is improving). Just like Jason, Marc makes himself available: you can contact him directly everyday at specific times. As far as I am concerned, they have the best Marketing/Comms team: Debbie, Allese, and Gabe, are doing a great job with the bloggers.
* WeSeed <weseed.com> WeSeed is a free online community for sharing ideas and to figuring out the stock market-without the middle man telling you how to invest.
I have never met them, but it would be a pleasure to interview Jennifer Openshaw - CEO & Co-Founder if she is around. Currently, they have a splage page with several videos from YouTube. I invite you to check their Twitter page (with only 11 followers and 1 update...) They also have a page on Facebook.
* Yodlee <yodlee.com> Yodlee delivers innovative financial applications that make online banking more profitable. Accel and S1 Corporation are two of their investors. Their solutions are focused mainly on three key areas of online banking: Personal Financial Management, Payments and Customer Acquisition.
Yodlee managed to reinvent themselves: they are not the "account aggregation company" anymore. They provide an excellent Personal Finance Management solution for banks as well as individuals. They power the popular PFM service from Bank of America.
I have always been reluctant to use Facebook for a business purpose. Mainly because I was concerned with the concept of "friends" and the limited privacy options. But I must admit that it is a great tool to keep in touch with people, from close friends to business contacts, and I am sure that at least 90 million of people would agree with me.
And at the end of the day, you decide what you want to share on your profile. Be smart!
Provide some exclusive content & give more exposure to my fans When I decided to create a page for Visible Banking, I had a goal, a purpose: I want to demonstrate what you should do on Facebook. I saw too many companies "on Facebook" or claiming to be on Facebook. Again, like any other social media project, what is your goal? Does it make sens? And if you do it, do it right or at least try your best, connect with people.
Another issue on Facebook is "the brand ownership" or the alteration/dilution of your brand. Anybody can create a page, a product, or a service using your company name. Mark, could you ask one of your colleagues to comment this post and tell us how you plan to address this issue?
I don't want the Visible Banking Page to be a mere copy and paste of Visible-Banking.com..
As far as I am concerned, there is no point creating and maintaining your own page if nobody but you contribute!
My goals: Reward my Fans & Create some Buzz I was touched that after less than 48h, and just a few invitations sent, 12 people became fans of my page. For the soft launch of the page, I contacted a small group of people made of fellow bankers, industry experts and prominent bloggers.
I believe the success of any Social Media initiative is linked with your ability to engage with your community and urge them to contribute. It is critical to REWARD your members, your fans. Rewarding could mean many things such as producing exclusive content, or giving visibiliy / exposure to your contributors. I intend to do both on the Visible Banking Page.
Please find below the names and a short description of my first 10 "Founding Fans" sorted by chronological order: 1.Chris Skinner, Owner at Balatro (UK): Chris is one of the most famous "banking technologists" in the uk. Chris is extremely well connected, respected and disruptive. I invite you to check the Facebook Group he created to market its successful Financial Services Club. Chris is an active blogger on several websites such as finextra and swfitcommunity. I invite you to check my video interview with him.
4.Allese Thomson, Marketing Coordinator at Wesabe (USA): Allese works with Debbie and Gabe in the dynamic Marketing team at Wesabe. Allese has a lot of excellent ideas, and I am confident she will be instrumental in the next (expected) redesign of Wesabe's interface. I am so pleased she started blogging too. Congrats!
5.Morriss Partee, Chief Experience Officer at EverythingCU.com (USA): Morriss contacted me almost a year ago, after watching the video I shot with William Azaroff. Morriss created one of the most active forums for the exchange of ideas in the Credit Union arena.
Posted items I will use this application to flag the most interesting news in the online finance space. This will be exclusive to the Facebook Page. Bloggers, please do not hesitate to add a link to your posts related to the topics I cover on Visible-Banking.com.
Reviews I would really appreciate if you could spend two or three minutes to leave a comment/review about the page. The idea is to explain how useful the Visible Banking Page is for you.
Please note that I am not expecting a Linkedin like type of endorsement. Endorsements are more than welcome though: please visit my Linkedin profile.
Discussion Board Most of the Facebook pages I visited which have a discussion board hardly have any activities from the readers/fans. I don't want to start dozens of discussions if nobody participates. I would rather keep the list of topics short, and see some regular activity. Please express yourself! And if you fee like starting a discussion on the page, please follow up and invite any of your contacts which may want to participate.
Tim (Tim Collins, SVP Experential Marketing at Wells Fargo), what a pleasure to have you as first contributor. It demonstrates again your proactivity, your understanding of Social Media, and it means a lot to me. Thanks.
Notes I plan to use the Notes application to add the rss feed to my blog. I have a question for the Facebook Team: would it be possible to use a rss feed from the Page wall or the Posted items application. For the moment, I believe the Notes application is the only application which offers you to subscribe to its feed... Am I correct?
Events I would like to flag all the most valuable and innovative online finance events worldwide. I won't succeed all by myself, your help will be precious. I am particularly interested in your contributions in the Middle East and the Asia Pacific region.
Please flag any events, register your interest, share your comments, or capture the questions you would like to ask to the speakers or the exhibitors. Moreover, If you know anyone interested to attend, sponsor, participate or cover the events, please direct them to the page!
Videos For a start, I uploaded a sample of my best videos. In the future, I plan to upload some exclusive videos.
Please share any video of innovative online services, any interviews with an entrepreneur or a banker who is a champion for social media. I would like to make a statement witht this page: "You want to find out more about social media in banking, check Visible-Banking.com and the Visible Banking Page on Facebook".
Photos Same idea. I really urge you to add any pictures related to web 2.0, social media in banking, and online finance. Bankers: add a logo / some screenshots of your PFM tool or any of your innovative online services. Entrepreneurs: add a logo of your company.
I hope you have already bought your ticket for Finovate 2008 in NYC on October 14th!
In the meantime, I invite you to check the conference demo lineup announced on NetBanker two days ago. It is another promising line up from Jim and Eric.
No Jwaala so far? Andrew, would you like to use this post to
give us an update on your company and MoneyTracker, your award winning
PFM solution for Banks and Credit Unions?
And where are the leaders in Social Lending? No Prosper? No Zopa? No LendingClub? Chris, Doug, Renaud, I invite you to leave a comment and update us on your latest achievements!
* BillShrink <billshrink.com> BillShrink is a free service that recommends the best cell phone plan for you.
I
haven't met them in the past. I am curious to find out more about their
service, their strategy, and see how it fits in the online finance
space...
* Boulevard R <boulevardR.com> Boulevard
R provides unbiased, independent financial advice with a different
approach from the competition: they work with Certified Financial
PlannersTM to create actionable, high-level financial plans to help
their users reach their goals.
I spent some time with Matt Iverson,
BoulevardR's co-Founder & CEO, at FinovateStartup 2008. It will be
interesting to get an update from Matt and find out the size of their
network of experts, their number of users, and any new features or site
redesign.
* CheckFree <checkfree.com> CheckFree
is a provider of financial electronic commerce services and products.
From powering electronic billing and payment, to automating financial
transactions, to streamlining regulatory reporting tasks.
CheckFree
provides a comprehensive online financial service suite. I found
CheckFree's presentation at the first Finovate solid and full of
advanced, customizable, features. And that was a year ago. I invite you
to watch my interview with their Bob Homer, VP of Product Management. Very much looking forward to their demo. Coverage on NetBanker
* Checkpoint <checkpoint.com> Check Point's pure focus is on information security. CP offers total security solutions featuring a unified
gateway, single endpoint agent and single management architecture.
This
is not exactly a startup, the company was founded in 1993 and counts
now 1,800 employees. They claim that 100% of Fortune 100 companies use
Check Point security solutions. I am curious to see how they will fit
with the other innovative, young, startups. I expect them to demo new,
innovative, solutions.
* Credit Karma <creditkarma.com> Credit Karma brings credit report data to the Web. It is
delivering an actual credit score computed by TransUnion, one of the
three major U.S. credit bureaus. Note that Credit Karma has the backing
from Prosper's Chris Larsen.
* Digital Insight (Intuit) <digitalinsight.com> * Quicken Online (Intuit) <quicken.com> Since
the acquisition of Digital Insight in 2007, Intuit's goal is to create
the next generation of online banking. With their flagship products
like the famous Quicken, they help people manage their small businesses
and personal finances.
It is going to be Intuit's first demo(s!) at a Finovate event.
Personal Finance Management is one of the most exciting areas of online
finance. I can't wait to see Quicken's demo, new features, and see how
they will respond to the current leaders in PFM online, Mint and Wesabe.
Even
though it is going to be their first presentation, I met a few people
from Digital Insight and Quicken at the previous two Finovate events in
NYC and San Francisco. If you are not sure about the value of
Finovate, I invite you to follow Intuit's example: come as a delegate,
and I am confident you will apply to the next event. Coverage on NetBanker
* FiLife (Dow Jones/IAC) <filife.com> The
unique joint effort between News Corp's Dow Jones and IAC, is a cross
between a personal finance tool like those powered by LeadFusion, a
finance forum like FatWallet, a voting site such as Digg, and a
full-blown magazine such as Money.
* mFoundry <mfoundry.com> mFoundry is one of the leading providers of mobile banking solutions.
I first met Drew Sievers, mFoundry's CEO & co-Founder, back in March 2007 at the online_banking_summit organized by my friend JJ Hornblass,
CEO of the Royal Media Group. I caught up with Drew a few times in the
us at Finovate and in London. Drew is an excellent presenter. I look
forward to catching up with him. Coverage on NetBanker
* Mint <mint.com> I am not sure I need to introduce the successful Mint.com anymore, but here you go... Mint is the leader in online Personal Finance Management. Mint is a modern, powerful, easy and secure Web–based solution for online financial management.
According to NetBanker (source: compete.com), Mint's traffic reached 460,000 unique visitors in July 2008. They recently redesigned their website with a strong focus on simplicity, as always.
* MoneyAisle (NeoSaej) <moneyaisle.com> MoneyAisle
is the next-generation online auction marketplace where consumers find
great rates on bank CDs and High-Yield Savings accounts, absolutely free.
They launched the service on June 9, 2008. Mukesh Chatter - President & CEO / Bob Watterson
- Vice President, Bank Partnerships. They launched a one month contest
in July to crate some buzz and drive user recruitment. But I can't see
any announcement post competition! (21/08/08) When do you plan to
publish the results?
I am back! Some of you probably wondered what happened to me. "Has he stopped?", "has he moved on?", "was he bored?"... No, no and... no!
Creating my blog back in February 2007 was definitely one of the most gratifying things I have done in my life so far.
Visible-Banking.com enables me to share my passion for social media, my vision for the banking industry, and my expertise. I believe there hasn't been a week without meeting fantastic people, and discovering innovative products & services in the online finance space. I am consistently developing credibility and a trusted, international, network of contacts in the banking industry. I have the opportunity to spend some time with entrepreneurs and true visionnaries. I am regularly invited to speak at leading financial services events in the US (a country that I love), in the UK, and in Europe. What a great experience!
Stay tuned! But for me blogging "goes with the flow". Sometimes, I need a break to concentrate on various other projects or activities. I used my recent break to do some research, and I have now a long list of topics I want to cover in my blog. I am also keen to shoot a couple of entertaining videos. I plan to launch a n ambitious competition soon: stay tuned!
My goal from now on is to post at least a couple of articles every week.
Subscribe to the most insightful blogs Even though I haven't posted much in the last 8 weeks, I have always kept myself uptodate thanks to my fellow bloggers.
Start blogging today! I feel fortunate, and I would like to encourage everybody to start working on their
online visibility and their personal brand. Don't wait, start now! The world is your oyster. Do better than me, quicker, but please keep me posted. I would be pleased to shoot a video interview
with you to convince more and more people and spread the word.
It could be intimidating when you think about it: dozen, hundreds, then thousands of people (some of them experts) read your posts and can share their comments, good or bad. But think about it: if they take the time to leave a comment, even a bad one, it is mission accomplished. You have started the discussion, and they are interested enough to take the time to express themselves. And free time is precious. Congrats.
Special note Last but not least, it is critical to find some motivation and inspiration when you blog. A special thanks to Miss T, my dear friend from Wesabe. A, I am so glad you started blogging at last. Your two posts are very well written, and you already have more comments than I had after a good dozen of posts! ;)
On Monday, I received two emails: one from ClairMail (thanks Eleni. By the way, could you please say hello to Gavin?) and one from BancVue (thanks Renee).
ClairMail's latest banking deal Please note that this news was under embargo until yesterday.
ClairMail partnered with Alerus Financial, a local and independently owned us bank, to offer Alerus customers a new mobile banking platform – Alerus Mobile Access. The service enables Alerus customers to access their accounts via text messaging or via the web on a mobile phone.
I have been in touch with Joe Salesky, ClairMail's CEO, and his team since early 2007. I usually catch up with Joe at the hottest online banking / online finance events in the US. I had the pleasure to shoot a video interview with a very inspired Joe in San Francisco at FinovateStartup 2008.
In September 2007, U.S. messaging and content delivery service provider Sybase 365 reported that: * More than a third of U.S. consumers can state their bank balance at any given time * Additionally, 42 % of American consumers can calculate their current balance total to the nearest $200 * As many as 61% of Americans admit to checking their bank balance at least every few days; 29 % check daily
BancVue's new milestone REWARDChecking is a free checking account offering a high-interest
reward rate and ATM fee refunds worldwide when consumers meet cost
saving and revenue generating electronic banking requirements.
* As of August 1, REWARDChecking accounts have eclipsed $5.5 billion in deposits nationwide and attracted more than 610,000 consumers interested in earning high-interest rewards on their checking accounts. * REWARDChecking is currently attracting a new depositor every 45.6 seconds. * Close to 400 community financial institutions are currently offering REWARDChecking accounts.
I met John Waupsh, CEO of First ROI, and Gabriel Krajicek, CEO of BancVue, in San Francisco a few months ago.
John and Gabe demoed their new online search tool, CheckingFinder.com, at FinovateStartup 2008. They did a great job: their presentation was one of the very best. They have so much energy, so much passion. And a good service. Well done guys!
I invite you to check the video interview I shot with John and Gabe at the end of such a busy day.
CheckingFinder.com, a new online search tool that allows consumers to
find, compare and sign up for REWARDChecking accounts online.
“Christophe's book is really the must-have synopsis of the current state-of-play in social media in banking. Christophe has taken a deep passion for the topic, and turned it into an account of the landscape valuable to anyone who has social media responsibilities in financial services” James Gardner, General Manager at Spigit
“Christophe is extremely well informed about the banking and financial services industries. He's at all the right conferences, and digs deep with his interviews of all the influencers and innovators. He's also a tremendously nice guy :-)” Aaron Patzer, Founder & CEO at Mint Software
“Christophe seems to have his finger on the pulse of the financial services industry. Visible Banking has become "the" source of information for innovations in the financial services industry.” Tim Collins, SVP-Experiential Marketing at Wells Fargo
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