Efma - Christophe Langlois "Banking 2.0: UGC, Social Media & Web 2.0"

Slide 1: Online financial services 2007 - Towards financial web 2.0 Thursday 29 November 2007, Barcelona User Generated Content a Big opportunity, not a major Risk Christophe Langlois, Founder Visible-Banking.com cm_langlois@yahoo.co.uk

Slide 2: 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 2

Slide 3: Visible-Banking.com: Banking 2.0 Reviews My goals   Urge banks to leverage web 2.0  Share my passion about social media How?  Categories  Monitor key trends & blogs  Review social media initiatives  Interview industry experts & CEOs  Speak or cover leading conferences Christophe Langlois, Visible-Banking.com 3

Slide 4: 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 4

Slide 5: 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 5

Slide 6: 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 6

Slide 7: Socialnetworking: facebook or not facebook What is your goal?  Your own network Why would you reinvent the wheel?  Key challenges  create a trusted network 1. reach a critical mass of users 2. engage them, urge them to contribute 3. and recommend your platform Leading networks Potential solutions  tap into facebook? 1. market your service in a timely fashion 2. reward your members! 3. Christophe Langlois, Visible-Banking.com 7

Slide 8: 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 8

Slide 9: 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 9

Slide 10: Personal Finance & Social Lending Christophe Langlois, Visible-Banking.com 10

Slide 11: Wells Fargo: the bank 2.0, today VP Social Media  Blogs Virtual worlds: StageCoach Island (SCI)  Social networking: SCI MySpace page  Flash / tutorial: Handsonbanking.com  Video promotion Blogging: 4 blogs, the Student LoanDown  Personal Finance: MySpendingReport  Video: Centerstage, UG video promotion  Christophe Langlois, Visible-Banking.com 11

Slide 12: 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 12

Slide 13: UGC & Web 2.0: a Big opportunity Christophe Langlois, Visible-Banking.com 13

Slide 14: 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 14

Slide 15: Online financial services 2007 - Towards financial web 2.0 Thursday 29 November 2007, Barcelona User Generated Content a Big opportunity, not a major Risk Christophe Langlois, Founder Visible-Banking.com cm_langlois@yahoo.co.uk