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Social banking

Author(s)

Publication date

Alea FAIRCHILD

9/07/2009

See referenced article on : http://thefinanser.co.uk/fsclub/2009/06/a-spanish-first-social-banking.html

In a nutshell, unlike Zopa and other social lending sites, CAN have created a hybrid model where the bank provides a secure social lending platform and manages the relationships between those who fund and those who need funds.

In 2008, BBVA had launched the first Web 2.0 banking application Tu Cuentas (You Count). See more information from the developer: http://blog.strands.com/2008/07/16/bbva-strands-personal-finance/

This again brings up the discussion of how many different channels a bank has to manage to be able to reach its customers. We had an excellent talk recently with KBC here in Belgium on business intelligence and managing the customer relationship.

Will there always be a need for a unique branch, or will some enterprising firm become the intermediary for a number of high street banks in one physical location?

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