If you think banks can’t do social, think again!
More and more Community Banks and Credit Unions are establishing their Social Media platforms. With the majority starting with Facebook, others have added Twitter, Linkedin, Instagram, YouTube, and even Pinterest.
Bank Monitor is a comprehensive “turn key” service enabling your institution to be “every day audit ready” at the price point below the cost of a minimum wage employee!
Social, for many Financial Institutions, is becoming part of their total marketing plan, so much so that The Financial Brand has recently revealed the Top 100 Banks using Social Media for the first quarter of 2019. The parameters for The Power 100 include the most Facebook likes, most Twitter followers, most tweets sent, most Twitter accounts followed, most YouTube video views and most YouTube subscribers. There is also a singular ranking based on most overall activity.
The other piece, and honestly the most critical piece, of having a social presence is compliance. Posting engaging content with eye-catching images that gets likes, comments and shares are only good if that content is compliant. A successful social program must be built upon a compliant infrastructure that addresses the Social Media: Consumer Compliance Risk Management Guidance from the FFIEC, regulations as well as corporate policy.
So although we are excited about the influx of banks doing social well, we know that balancing creativity, listening and participating in real-time conversations, protecting the integrity of the brand while complying with all laws, regulations and corporate policy is still a challenge.
Bank Monitor is a comprehensive “turn-key” service enabling your institution to be “everyday audit ready” at the price point of $500.00 per month! With this powerful tool in place, banks and credit unions are equipped to build a complete social presence on top of a totally compliant infrastructure.
If you have questions about Social Media Compliance, there is only one answer: BANK MONITOR. Contact us to find out how quick and affordable it is to be audit-ready on a daily basis.