In this report we look at the banking opportunities in Facebook. While the social network is more about friendship that commerce, Facebook, especially post-IPO, will increasingly be looking to marry those two activities.
And banks will want to jump on board, either now or in the very near future.
Why?
• In the United States, and many other countries, virtually 100% of your online/mobile banking customers visit it frequently. And it costs exactly zero to get started.
• Communicating/marketing with your Facebook “fans/likes” (and their friends) can be more cost effective than traditional methods.
• Facebook’s social plugins offer interesting ways to integrate your online/mobile services with the social network.