Bank'd5
Facebook Users Want Web 2.0-enabled Banks
Mike T. shared 4 months ago
Duh! Maria Bruno-Britz from Bank Systems & Technology shines light on a new study from WorkLight showing statistics on Generation Y and their comfort level with using Web 2.0 features in their finances.
Maria also asks several questions about why banks should even bother with Web 2.0 or why Gen Y thinks they should be able to interact with their bank in the same way they do with friends, family and entertainment.
This is a very hot topic for me and seems like its coming from someone very out of touch with technology.
Mike T.
Anyone else have thoughts on this? In my trade as a marketer, I feel like I become very loyal to brands that do a good job marketing to me and about their brand. However, if someone else out there is doing a better job of promoting their brand AND is providing the new Web 2.0 tools that I’m looking for, I don’t think I’d hesitate to check someone else out.
In my financial lifetime, albeit short at 8 years (from my first account at 14 years old to now), I’ve only moved my main checking account between three different financial institutions. However, now that I’ve become introduced to the CU world and see how easy it is to become a member and realize the advantages between different FIs, I’ve currently got accounts at four different institutions. It won’t be any trouble for me to try out one more that is offering innovative new tools and technologies, and if I like it well enough, it’s even easier for me to pack up and move on.
So, to the FIs of the world I say keep on top of these things. People like me are the future of your business and you must listen to what the market wants.
Lisa R.
That was an interesting read, thanks for posting it. I couldn’t agree more with the comments you’ve left both here and on the original article. Gen-Y wants to be connected, and that includes being connected with our banks. There are so many websites/apps/companies out there that are doing groundbreaking things for the banking industry – Look at Young & Free! They’re completely targeted at this Gen-Y demographic, and their campaign is bringing in huge success!
Banks have to keep up with the trends or they’ll lose this generation’s business. Appeal to us now, and work to keep us in the future. Don’t just ignore us because our demands may seem scary. It CAN be done. Many FIs are finding a great deal of success with Gen-Y when they provide services that appeal to our needs & lifestyles.
Michael F.
Could not agree more. We are trying hard to bring innovation to this space and more importantly, listening to our customers and reacting quickly to what they want. I read an interesting article on Guillaume’s blog you might find well… interesting.
Chris O.
Yes, I totally agree. FI espically CU need to work to adapt more online web 2.0 features to attract young Gen Y members. It has been proven Gen Y is the next step and they want to be constantly connected, so this is only the next logical step.
CU must pay attention to trend that are occuring with web 2.0 and social networking. There are many innovative ways to connect with the Gen Y demographic and the more research/planning that is doen now the easier implementation will be. Obviously offering ways to be connected through your account is attractive to young members, but like Lisa said Young and Free has done such a good job that the internet can offer so much more, such a great tool to connect to members