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Implications of Web 2.0 for financial institutions: Be a driver, not a passenger

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Author Info
Heng, Stefan
Meyer, Thomas
Stobbe, Antje

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Abstract

Web 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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File URL: http://mpra.ub.uni-muenchen.de/4316/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 4316.

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Date of creation: 31 Jul 2007
Date of revision: 31 Jul 2007
Handle: RePEc:pra:mprapa:4316

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Related research
Keywords: 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 - - - 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

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