efma - christophe langlois "banking 2.0: ugc, social media & web 2.0"

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www.Visible-Banking.com

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  • 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. 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 3. 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 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 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 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 7. 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 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 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 10. Personal Finance & Social Lending Christophe Langlois, Visible-Banking.com 11. 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 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
  • Wed like to offer you, along with some other prominent bloggers, a personal guided tour of the island.

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