Social Media Risk Management for Financial Institutions
Social media is seen as an important part of many modern business plans, including those of banks and credit unions. Social media sites enable virtual communities allowing business owners to deepen business relationships, attract new clients, and monitor what community members say about the business. According to a survey conducted by the American Bankers Association in 2019, 84% of survey participants stated they "agree" or "strongly agree" with the statement "social media is important to my bank."
