Implications of Web 2.0 for financial institutions: Be a driver, not a passenger
AbstractWeb 2.0 heralds a new era of communication with a massive increase in information supply and where news, opinion and services flow directly from user to user. Financial institutions can take advantage if they stay abreast of this development. However, any Web 2.0 presence of a financial institution must be authentic and consistent with the institution’s brand and corporate culture. To leverage the potential, the need for an immaculate reputation and the right type of brand is becoming ever more important.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 4316.
Date of creation: 31 Jul 2007
Date of revision: 31 Jul 2007
information- and communication technology; ICT technology; P2P; Web 2.0; banking; blog; virtual worlds; wiki; lending; e-business; e-commerce; B2C-e-commerce; internet; e-payments;
Find related papers by JEL classification:
- G29 - Financial Economics - - Financial Institutions and Services - - - Other
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-08-08 (All new papers)
- NEP-BAN-2007-08-08 (Banking)
- NEP-ICT-2007-08-08 (Information & Communication Technologies)
- NEP-MKT-2007-08-08 (Marketing)
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- Marton Sakal & Predrag Matkovic & Pere Tumbas, 2011. "Web 2.0 Technologies in Internal and External Communications in the Banking Sector," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 7(02), pages 87-97.
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