The Rise of Social Media Banking: Money in the Digital World

The banking industry has long since evolved from its meager beginnings of tellers, cashboxes and large looming safes with humidifiers to online personal bankers, expansive financial services, and a myriad of other services created to service a broader customer base. It is no longer important to just be a system of debits and credits but it is now important to be a visible and global presence for potentially millions of people. Social banking can create a wider attraction for media product recognition, customer building as well as customer retention, and the general sustainability of simply being, "out there".

Social media banking can be provocative as the rules regarding customer contact and product presentation is greater. The potential customer has the opportunity to make more informed decisions as to how they can invest money, create working accounts online, and even get sound financial advice without leaving the monitor. Social banking gives customers an opportunity to find goods and services that reflect their true needs for financial assistance and find a bank that reflects their personality. Yes, banks do have personality as well. Social media banking has the greatest opportunity to attract a broad range of customers who are interested in the goods and services they offer. Those users found on social media sites such as Twitter, Facebook, and others are informed users who are exposed to many industries at a single click. Financial institutions with a "Like" to them are more attractive to this media and get more attention. The digital generation is much more reachable and more likely to use services from those entities that share their interests, and more importantly, their means of communication. In effect, it is really about good communication for those who become potential customers and a financial institution that is online, and visible. High Internet visibility can be the one sustainable option for customer building and customer retention simply because to users it means the bank is approachable, friendly, and "has a face".

Social banking can be furthered in terms of longevity and potential growth by continuing to expand goods and services in a social media forum. Social media banking can become a realized platform for selling the personality of the institution to attract those customers that will grow with them. The goods and services can then be tailored to meet the needs of growing demands, and even changed to bring new customers in new and challenging ways.

If you're not familiar with the term social banking, visit our website to learn more about this innovative technology and its impact on marketing for financial institutions.

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Virtual Banking: Best Practices to Design the Best Mobile App

In today's technological world, people enjoy the finer things in life without having to exert too much effort for it. One thing that may have contributed to this major change is the internet. Nowadays, people can do anything with the internet, from ordering their meals, buying new stuff and even selling their used ones. Another great innovation is virtual banking.

It is quite hassling to go all the way to your bank, get a number, and wait until it gets called just to inquire on your savings account balance or check if your payments were sent to the recipient on time. It is both time-consuming and an utter inconvenience. However, with virtual banking, people are given an easy means of using their bank's services whenever and wherever they wish to by means of a computer or a mobile phone with internet connection.

Advancements in technology have helped banks and other financial institutions to enhance the quality of service they provide to clients. Some banks even offer online-based banking services round the clock. Clients can easily check their banking account information, transfer funds to another bank account, pay their bills and basically manage their account with the use of the internet. Almost all banks at present have setup their online services in order to keep up with the demands of their clients for this particular service.

Banking by means of the internet has been an accepted method for most clients, yet still a portion of skeptics still find it more comfortable to use the conventional banking methods. These clients may be comprised of people who aren't fond of using computers and/or the internet. However, for those who don't mind the method of virtual banking, they are given several benefits that the method entails.

One major benefit of online banking is that you are able to complete any banking transaction safely. You never have to go outside the house and deposit or withdraw money from your bank in a walk-in process. This may minimize the risk of getting robbed or losing the money somewhere along the way. Convenience is another great thing about online banking as clients can carry out their require transactions in the comforts of their own home. No more commuting to the bank or falling in crowded lines just to have your transaction processed. Continuously being able to monitor your savings and overall account is also a benefit of online banking.

Virtual banking is a key new technology to attract new customers to your institution; learn more about this trend on our web site.

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