Has your institution established a Facebook page? How about a Twitter presence? Maybe you're not sure what these even are, aside from your kids using them. However, you may already have a presence and not even know it: your employees might talk about your institution on their own blogs or tweets, or your institution's customer service may be the subject of a diatribe on an online ratings site.
Are you even aware of what is being said about your institution on these new channels? Taking a wait-and-see attitude might not be the best approach, since many customers have come to expect their financial institutions to reach out in these new and exciting ways.
And what about the legal and compliance implications? Technology has always been in front of regulation, so the existing regulatory structure must be adapted to these new methods of communication. Do you have a risk management review process that accounts for these types of communications? We'll talk about the challenges that should be addressed when considering social media as a customer service tool within your institution, and help you understand how to handle these issues now and in the future.
Covered topics include:
- Do different communication channels have different compliance requirements?
- Handling different types of channels: those you control vs. those you don't
- Advertising requirements in Regs Z, DD, FDIC membership, FHA, and non-deposit retail investment, as well as fair lending implications
- Record retention and management - what do we have to retain here?
- Information security issues - protecting customer information, phishing attacks, and fraud/ID theft
- Payment channels - this is closer than you think
- Developing policies and procedures around employee and sales staff usage
- Issues to consider when employees act on their own
- Public ratings of how your bank is viewed in cyberspace - not just a challenge, but an opportunity
Target Audience
Anyone at your institution that has a hand in how social media and networking contribute to your institution's image and bottom line, including compliance officers, counsel, marketing, sales staff, IT, and senior management will be particularly interested in this webinar's material.