Banks and other financial organizations are collecting and archiving information such as status updates that users post on social media sites like Facebook and Twitter, according to a recent ABC News article.
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From average Joe Blows to small-time indie bands, there’s not a blog on this earth that I’m not willing to check out. But one blog I never expected to read is from my bank.
According to the Charlotte Observer, banks such as JPMorgan Chase & Co. and Washington Mutual are making a push to invade Facebook and other social networking sites to appeal to Gen Y.
It’s not just the big boys making the move. Currently, there are more than 100 credit unions with profile pages. Offering games, videos and contests, it appears banks are desperate to try to make home equity loans and APRs cool.
“Last month, Jim Bruene, editor of the Online Banking Report, a trade publication, asked 500 Facebook users whether they’d be interested in viewing their bank account balance through Facebook. Seventy percent said “No way.”"
Do you have any interest in accomplishing your banking needs through a social network. Or would you rather not mix business and pleasure?
