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Complete 1 page APA formatted essay: Banking and Social Media.Age is the other reason as to why social media cannot be fully used as a banking platform. Young people are much more likely to use these
Complete 1 page APA formatted essay: Banking and Social Media.
Age is the other reason as to why social media cannot be fully used as a banking platform. Young people are much more likely to use these platforms than older people. There can, therefore, be a problem if the social media was to be used fully as a banking platform as not all customers are familiar with social media. The region of the world in which the customer is in brings out another reason social media cannot be fully used as a banking platform. There are those parts of the world like North America where a 36% of customers use social media platforms reducing the chances of fully utilizing social media for the provision of banking purposes.
It is possible for customers to access banking services through Twitter as it has been possible to do so using Facebook. The possibility of using Twitter in provision of banking services is yet to be confirmed owing to the lack of clarity around the emerging social media landscape, and there is an added complexity to the already crowded social media channel infrastructure. Another reason for its lack of clarity is the few metrics available for measurement of the effects of using social media on a financial institutions bottom line. The risks associated with third parties and privacy issues add up to the reasons why using Twitter as a fully banking platform can be
