Unlike their employees, financial institutions warm slowly to social media

Banks and other financial institutions are slow to harness social media and digital technologies, even though their employees regularly apply these tools in their work lives, a recent VantageScore Solutions survey revealed.

The survey, commissioned by VantageScore Solutions and conducted by SourceMedia Research in conjunction with the monthly Index of Banking Activity, encompassed more than 250 professionals in a wide range of job titles and departmental functions at institutions including commercial and regional banks, credit unions and merchant banks.

Among the findings on social media:

The survey also revealed that traditional downloadable and streaming digital content was much more widespread, as more than 95 percent of respondents reported visiting websites for mainstream and industry-specific news outlets, professional organizations, and agency or regulator sites.

In terms of content types, more than 87 percent rated webinars and streaming video as “important” for work-related content; 80 percent rated survey and market-trend data as “important” data they seek online; 75 percent identified white papers and journal articles as “important,” and 60 percent rated presentation slides and decks as important.

VantageScore Solutions will continue to track usage of social and digital media within the lending community, to help shape our offerings for the professionals we serve. As appropriate, we will also share our findings with readers of The Score and subscribers to our social media channels.

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