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In 2021, Banks Must Sustain The Digital Momentum

Forrester IT

Each year, many consumers vow to change their behavior come January 1, resolving to cut down on social media, eat more healthily, sort out their finances, or — for those in lockdown — go for a […]. So, let me ask you, how is that New Year’s resolution coming along?

Banking 491
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Ethiopia's largest bank hit by glitch that allows customers to withdraw over $40 million

TechSpot

According to local media, CBE didn't initially notice the technical issue that allowed customers to withdraw more money than they had in their accounts. By the time the bank realized what was going on and froze transactions a few hours later, more than 2.4 billion Ethiopian birr (around $40 million). Read Entire Article

Banking 110
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Research: The acceleration of Australian banks’ use of social media

Trends in the Living Networks

Financial services is one of the most industries in which the use of social media is the most relevant, not least because customer service is a critical differentiator between highly commoditized offerings. Social media, used well, provides an opportunity to build relationships in a world in which most financial services are executed online.

Banking 133
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Social media used to be free. Not anymore.

Vox

Friso Gentsch/picture alliance via Getty Images You used to pay for social media with your eyeballs. If you’re not paying for the product, you are the product” has long been a common refrain about the business of social media. But now, this free model of social media — subsidized by advertising — is under pressure.

Media 100
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Cybersecurity firm says social media bots hyped GameStop during trading frenzy

The Verge

A cybersecurity firm found that bots were promoting GameStop stock on social media before and after the stock’s frenzied rise last month, Reuters reported. Massachusetts-based PiiQ Media says social media bots promoted Dogecoin, GameStop, and other “meme” stocks in posts on Facebook, Twitter, Instagram, and YouTube.

Media 99
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EU closes airspace to Russian aircraft and blocks state-backed media

The Verge

European Commission President Ursula von der Leyen announced on Twitter that the European Union will ban Russian state-run media outlets from airing in the EU, as well as bar Russian aircraft from flying in EU airspace. Second, we will ban the Kremlin’s media machine in the EU.

Media 95
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For Gen Z, bank accounts and cash are out, mobile wallets are in

Computerworld Vertical IT

Even as the US government is moving cautiously to regulate and adopt cryptocurrency, new surveys are showing that the use of traditional financial services, such as bank accounts and cash, is already waning — especially among youngr customers.

Banking 60