TRY FOR FREE

Do Banks really need to have a Facebook app for money transfers?

Banks are trying hard to become increasingly customer focused. After years of technological transformation, service levels are high on their agenda and thats a very good thing. Use of B2C social media is on an all time high, and they have Facebook pages with huge fan following. Some of them do 5k to 20k conversations per month. Bank's marketing folks see it as an amazing channel to engage with the customers and offer them another platform to interact with the bank. Does all this also act as qualifying factors for banks to launch specialized apps on Facebook to do money transactions?

More than 5 banks and several payment (and related) firms think so. American banks are also thinking about providing Facebook based Money apps but not much has been seen.

Africa - Firs ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.

RECOMMENDED