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How are financial institutions using social media?

How are financial institutions using social media? Social media is still new to many banks and credit unions. Security is a big concern as financial information is very sensitive. Social media must be monitored regularly to ensure customer privacy. Social media is being used by financial institutions in many ways including: Building Relationships – Sharing pictures, and videos helps build relationships with customers. Social media allows banks and credit unions to be more social and interact. Relaying Information – Financial institutions are embracing social media to get the word out about events and services. Promoting their products – Social media is being used to promote products and special offers customers may not be aware of.

How can credit union customers benefit from technology and social media? Customers are taking full advantage of technology and social media. People want access and convenience. Technology and social media have made this possible. Banking has changed. It is mobile, it is fast and it is easy. Some of the benefits to customers are: Easy to use apps – Financial institutions now have apps that allow customers to complete many transactions easily from wherever they are. Financial education – An excellent way for credit unions to use social media is education. Helping make customers financially savvy is not only a benefit to the customer, but to the financial institution.
Read more at http://www.business2community.com/customer-experience/banks-are-embracing-technology-and-social-media-to-reach-their-customers-0574800#EOldoD5uamgq26YA.99

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