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

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

  1. 1. 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
  2. 2. My objectives today <ul><li>Towards Financial web 2.0 </li></ul><ul><ul><li>How can we take advantage of new technologies to create richer customer interactions? </li></ul></ul><ul><ul><li>What is the impact of Web 2.0 social networks on financial services? </li></ul></ul><ul><li>Social Media guidelines </li></ul><ul><li>Panorama of some « banking 2.0 » initiatives </li></ul>Christophe Langlois, Visible-Banking.com
  3. 3. Visible-Banking.com: Banking 2.0 <ul><li>My goals </li></ul><ul><ul><li>Urge banks to leverage web 2.0 </li></ul></ul><ul><ul><li>Share my passion about social media </li></ul></ul><ul><li>How? </li></ul><ul><ul><li>Monitor key trends & blogs </li></ul></ul><ul><ul><li>Review social media initiatives </li></ul></ul><ul><ul><li>Interview industry experts & CEOs </li></ul></ul><ul><ul><li>Speak or cover leading conferences </li></ul></ul>Reviews Categories Christophe Langlois, Visible-Banking.com
  4. 4. Visible-Banking.com: Interviews 2.0 <ul><li>Event coverage </li></ul><ul><li>Interviews 2.0 </li></ul><ul><ul><li>39 interviews (26/11/07): Social Networking Personal Finance, Social Lending, Virtual Worlds </li></ul></ul>Christophe Langlois, Visible-Banking.com
  5. 5. MyBankSucks.com 2.0 <ul><li>Having angry customers, not a new trend </li></ul><ul><li>The scale & the pace have changed </li></ul><ul><ul><li>Web 1.0: Chat rooms, Forums, websites </li></ul></ul><ul><ul><li>Web 2.0: blogs, rss feeds, videos/youtube </li></ul></ul><ul><li>Web 2.0: giving the power to people </li></ul><ul><ul><li>Client expectation has changed </li></ul></ul><ul><ul><li>People will always find a way: show you care! </li></ul></ul><ul><li>Facebook / HSBC for students </li></ul>Christophe Langlois, Visible-Banking.com
  6. 6. Different web 2.0 projects, different risks <ul><li>James Gardner, Head of Innovation, Lloyds TSB </li></ul><ul><ul><li>«  Innovation is risky, yes but it can be managed as any other investment portfolios. And bankers are experts in risk management.  » </li></ul></ul><ul><li>There are 4 main types of web 2.0 projects </li></ul><ul><ul><li>« Behind the Firewall » – « Intranet 2.0 » </li></ul></ul><ul><ul><li>Secure / Private: for clients </li></ul></ul><ul><ul><li>Public: B-to-B </li></ul></ul><ul><ul><li>Public: B-to-C </li></ul></ul>Christophe Langlois, Visible-Banking.com
  7. 7. Socialnetworking: facebook or not facebook <ul><li>What is your goal? </li></ul><ul><li>Why would you reinvent the wheel? </li></ul><ul><li>Key challenges </li></ul><ul><ul><li>create a trusted network </li></ul></ul><ul><ul><li>reach a critical mass of users </li></ul></ul><ul><ul><li>engage them, urge them to contribute and recommend your platform </li></ul></ul><ul><li>Potential solutions </li></ul><ul><ul><li>tap into facebook? </li></ul></ul><ul><ul><li>market your service in a timely fashion </li></ul></ul><ul><ul><li>reward your members! </li></ul></ul>Your own network Leading networks Christophe Langlois, Visible-Banking.com
  8. 8. Blogging: be honest, moderate & respond <ul><li>Key questions </li></ul><ul><ul><li>What do people say? </li></ul></ul><ul><ul><li>Does it matter? </li></ul></ul><ul><ul><li>What should I do? </li></ul></ul><ul><ul><li>Did it work? </li></ul></ul><ul><li>Set up a reliable moderation process </li></ul><ul><li>Dedicate resources to </li></ul><ul><ul><li>Post content </li></ul></ul><ul><ul><li>Monitor the blogosphere, comment bad & good posts </li></ul></ul><ul><li>Key strategies </li></ul><ul><ul><li>Strongly branded vs discrete « powered by » logo </li></ul></ul><ul><ul><li>Editorial team vs UGC </li></ul></ul><ul><ul><li>Blog only vs online community </li></ul></ul>Christophe Langlois, Visible-Banking.com
  9. 9. Virtual Worlds: provide richer experiences <ul><li>3D internet helps provide richer experience </li></ul><ul><li>Virtual worlds are becoming part of a global communication mix </li></ul><ul><li>Key questions </li></ul><ul><ul><li>What is your goal? </li></ul></ul><ul><ul><li>Who are you targeting? </li></ul></ul><ul><ul><li>Which metaverse? - Beyond Second Life - </li></ul></ul><ul><li>Bring your clients into these spaces </li></ul><ul><li>Key goals: test new product ideas & environments, enhance cust. support, recruit, encourage collaboration, foster innovation </li></ul><ul><li>Useful Behind The Firewall (BTW) </li></ul>Christophe Langlois, Visible-Banking.com
  10. 10. Personal Finance & Social Lending Christophe Langlois, Visible-Banking.com
  11. 11. Wells Fargo: the bank 2.0, today <ul><li>VP Social Media </li></ul><ul><li>Virtual worlds: StageCoach Island (SCI) </li></ul><ul><li>Social networking: SCI MySpace page </li></ul><ul><li>Flash / tutorial: Handsonbanking.com </li></ul><ul><li>Blogging: 4 blogs, the Student LoanDown </li></ul><ul><li>Personal Finance: MySpendingReport </li></ul><ul><li>Video: Centerstage, UG video promotion </li></ul>Christophe Langlois, Visible-Banking.com Blogs Video promotion
  12. 12. Wells Fargo: StageCoach Island - upgraded <ul><li>Initially launched on SL in 2005 </li></ul><ul><li>Teach young adults about financial literacy in a fun and engaging way </li></ul><ul><ul><li>Buy virtual land and build homes </li></ul></ul><ul><ul><li>Get virtual mortgages </li></ul></ul><ul><ul><li>Open virtual checking accounts </li></ul></ul><ul><ul><li>Apply for virtual credit cards </li></ul></ul><ul><ul><li>Secure virtual jobs </li></ul></ul><ul><li>“ We’d like to offer you, along with some other prominent bloggers, a personal guided tour of the island.” </li></ul>Christophe Langlois, Visible-Banking.com
  13. 13. UGC & Web 2.0: a Big opportunity Christophe Langlois, Visible-Banking.com
  14. 14. Top blogs about innovation & banking 2.0 <ul><li>Visible-Banking.com </li></ul><ul><li>NetBanker.com </li></ul><ul><li>TheBankWatch.com </li></ul><ul><li>TheBankChannel.com </li></ul><ul><li>Bankervision.typepad.com </li></ul><ul><li>MobileMoneyBanking.com </li></ul><ul><li>Digital money Forum </li></ul><ul><li>Chris Skinner on finextra community blogs </li></ul>Christophe Langlois, Visible-Banking.com
  15. 15. 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

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