Financial Services (105)
From Facebook like to interest rate hike
Fidor Bank from Munich promises their customers they will increase their interest rate depending on the amount of likes they get on their Facebook page. The rate will go up by 0.1% for every thousand fans, though the maximum increase is set at 1.5 per cent in 2012.
Why it matters
The bank is seeking to gain attention, especially from potential new customers via social networks. But apart from this, is this a good way of getting a real return on investment for both customers and the bank?
Intesa Sanpaolo bank created a bank account called Superflash that caters to young adults. They have even opened their first flagship store in Milan dedicated to this audience; the opening hours are form 1.30 to 7pm, it features a relax and play areas, WiFi and even a Formula 1 simulator.
Portugal’s Banco Espirito Santo (BES) are currently promoting ‘BES Arte & Finance’, a space where contemporary art mingles with financial services. Located in Lisbon’s financial district, the initiative is aimed to bring modern art to the masses and give something back to the community.