Facebook, privacy and social media for financial services
I have just typed “How do I” in Google today, and the fourth suggestion that it proposes is “…delete my Facebook account.”
There’s clearly some discontent out there. What’s the cause of these rumblings? Well, it was reported last week that there has been a significant review of security policy at Facebook HQ. Facebook user profiles are publicly accessible by default, and it seems that a growing number of commentators such as Jason Calacanis, chief executive of the question-and-answer website Malaho, are calling for a boycott of what is now a “not trustworthy” site.
And yet, this is against the backdrop that Facebook will shortly announce over 500 million users, and that’s 40% of everybody on the internet.
So, the dichotomy for businesses that have online security as a top priority, such as in the financial services or pharmaceutical industries for example, is how they should engage in social media when Facebook, the most popular of social media tools, is so open. And this question is always most loudly voiced in the Boardroom of the banks and insurers, where the decision-makers for a social media strategy will be immediate detractors because they consider the simple equation is “Social Media = Facebook”, and they can see no further!
The important resolve at the Boardroom must be that the social media strategies for banks and insurance companies should not focus upon social media tools. Instead, the message for the Boardroom is that the best uses of social media will demonstrate that it can yield amazing results without compromising security or the confidence of your customers. And to achieve this it can be better to think of more creative ways to engage people. We’ll be looking at some of these in the coming weeks.
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Kelly Monroe:
IT management is struggling with whether social media is productive or obstructive for companies and their employees. Software is being developed and policy and restrictions are being decided everyday by IT managers. The security of company networks are at stake but the potential for innovation using social media is a large enough carrot for the discussion of how to properly utilize the medium continues. Palo Alto networks came up with an webinar, http://bit.ly/cR80Al, that should be interesting exploring the issues surrounding social media in the workplace. It is important to not only understand the immediate benefits of doing business how one lives, but the threat it presents to a company’s greater ROI and productivity when it comes to the server’s safety and security.
24 May 2010, 9:15 pmKelly:
as a follow up to the white paper, You can register for this webinar now that looks really forward thinking. It delves into social media and the role it will play in the future of the business world http://bit.ly/cR80Al
4 June 2010, 4:25 pm