Financial Services Get Social

Post on October 20, 2010


Facebook and Twitter aren’t just for socializing and celebrity gossip.

Earlier this week we learned how Twitter can predict the action on Wall Street. But today a new report reveals how Wall Street is moving and shaking on Twitter and Facebook. Financial services’ social media activity has exploded over the past two years, according to a new report by “Corporate Insight” that analyses the activity of 70 brokerages, banks, credit card companies and asset management firms.

The report: “To ‘Friend’ is the Trend: Social Media & Financial Services Today,” breaks its analysis into three industry segments, and of the three banks and credit card issuers topped the list as most involved in social media. Over three quarters of all bank and card firms use social media, and most firms have multiple profiles on Facebook and Twitter. A third of these firms use Twitter to address customer service questions and about a quarter use the site to distribute commentary.


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