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

Author

Listed:
  • Heng, Stefan
  • Meyer, Thomas
  • Stobbe, Antje

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.

Suggested Citation

  • Heng, Stefan & Meyer, Thomas & Stobbe, Antje, 2007. "Implications of Web 2.0 for financial institutions: Be a driver, not a passenger," MPRA Paper 4316, University Library of Munich, Germany, revised 31 Jul 2007.
  • Handle: RePEc:pra:mprapa:4316
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    File URL: https://mpra.ub.uni-muenchen.de/4316/1/MPRA_paper_4316.pdf
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    Citations

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    Cited by:

    1. Klein, Thilo, 2017. "Intermediation in peer-to-peer markets: Evidence from auctions for personal loans," ZEW Discussion Papers 17-073, ZEW - Leibniz Centre for European Economic Research.
    2. 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.

    More about this item

    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;
    All these keywords.

    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, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; 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, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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