User Generated Content a Big opportunity, not a major Risk Christophe Langlois, Founder Visible-Banking.com [email_address] Online financial services 2007 - Towards financial web 2.0 Thursday 29 November 2007, Barcelona

My objectives today Towards Financial web 2.0 How 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 Christophe Langlois, Visible-Banking.com

Towards Financial web 2.0

How 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

Visible-Banking.com: Banking 2.0 My goals Urge banks to leverage web 2.0 Share my passion about social media How? Monitor key trends & blogs Review social media initiatives Interview industry experts & CEOs Speak or cover leading conferences Reviews Categories Christophe Langlois, Visible-Banking.com

My goals

Urge banks to leverage web 2.0

Share my passion about social media

How?

Monitor key trends & blogs

Review social media initiatives

Interview industry experts & CEOs

Speak or cover leading conferences

Visible-Banking.com: Interviews 2.0 Event coverage Interviews 2.0 39 interviews (26/11/07): Social Networking Personal Finance, Social Lending, Virtual Worlds Christophe Langlois, Visible-Banking.com

Event coverage

Interviews 2.0

39 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 changed Web 1.0: Chat rooms, Forums, websites Web 2.0: blogs, rss feeds, videos/youtube Web 2.0: giving the power to people Client expectation has changed People will always find a way: show you care! Facebook / HSBC for students Christophe Langlois, Visible-Banking.com

Having angry customers, not a new trend

The scale & the pace have changed

Web 1.0: Chat rooms, Forums, websites

Web 2.0: blogs, rss feeds, videos/youtube

Web 2.0: giving the power to people

Client expectation has changed

People 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 clients Public: B-to-B Public: B-to-C Christophe Langlois, Visible-Banking.com

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 clients

Public: B-to-B

Public: B-to-C

Socialnetworking: facebook or not facebook What is your goal? Why would you reinvent the wheel? Key challenges create a trusted network reach a critical mass of users engage them, urge them to contribute and recommend your platform Potential solutions tap into facebook? market your service in a timely fashion reward your members! Your own network Leading networks Christophe Langlois, Visible-Banking.com

What is your goal?

Why would you reinvent the wheel?

Key challenges

create a trusted network

reach a critical mass of users

engage them, urge them to contribute and recommend your platform

Potential solutions

tap into facebook?

market your service in a timely fashion

reward your members!

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 Christophe Langlois, Visible-Banking.com

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) Christophe Langlois, Visible-Banking.com

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 Christophe Langlois, Visible-Banking.com

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 Christophe Langlois, Visible-Banking.com Blogs Video promotion

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

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.” Christophe Langlois, Visible-Banking.com

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 Christophe Langlois, Visible-Banking.com

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 Christophe Langlois, Visible-Banking.com

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 Visible-Banking.com [email_address] Online financial services 2007 - Towards financial web 2.0 Thursday 29 November 2007, Barcelona