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?
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.
LookTel has created an iPhone app that allows for the visually impaired to know the amount of money that they are holding.