Financial Services (105)
Banks get the personal touch
Banco Sabadell employees have a new way to propose improvements to their bosses. “BS Idea” is a social media platform where employees can submit improvement proposals and new commercial initiatives . Any department of the bank can generate these ideas. With this new platform, users have freedom to register new ideas and classify them in some of the 17 different categories the bank has created. There is a voting system to show the most popular ideas which the bank can then choose from to implement.
Why it matters
These kinds of initiatives have dual benefits including, improving financial institutions efficiency and at the same time empowering employees. Can marketers work with this kind of initiative, taking it to consumers to detract from the idea of faceless corporations and bring to life the people behind their bank?
With all the turmoil on Wall Street last year, community bankers are calling for a move back to Main Street. Arianna Huffington is leading the cause with her Move Your Money initiative, aimed at consumers who are banking with the big guys. She claims that although the small banks can’t compete against the big banks, with the help of the collective, they can create an impact. With her program, it’s all about making the statement that Americans won’t stand for greed, corruption and bailouts for bad decisions anymore. And in the end, we’ll all be better off with community banks than with national corporations.
The clever students at the MIT Media Lab have created Proverbial Wallets – digitally enhanced wallets designed to guide your spending habits. Using Bluetooth technology, the wallet collects your financial data and measures your spending. The wallet then swells and shrinks to reflect your bank balance. It also has the ability to lock if you reach your monthly budget.