This document discusses how social media is changing the banking industry and how banks can leverage social media. It provides perspectives from banking executives on how social media can drive innovation through service, product, and process innovation. Social media allows banks to improve customer service, generate leads, deepen customer relationships, and differentiate from competitors. Banks need to listen to customers on social media, engage in conversations, and join discussions in online communities to benefit. Executives share how their banks are learning from early social media experiences and adapting their strategies to be more active and responsive online. Web listening tools and private online communities are presented as ways for banks to gain insights from customers.