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?
The online banking specialist ING Direct launched a teaser campaign of print ads showing faces in various stages of pleasure and with the sentence “Today, I did it." While people though it was promoting a dating website ING Direct was in fact pointing out the pleasure of changing banks.
LookTel has created an iPhone app that allows for the visually impaired to know the amount of money that they are holding.