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While the arrival of the likes of Twitter, Facebook and YouTube in global treasury services is not likely to help foment revolution, banks’ use of social media channels and features to service corporate customers does promise to introduce profoundly more interactive relationships. Banks have been reaching out to consumers through social media for a few years now, but the uptake at the business-to-business level has been slow. Security is a concern, and the more experienced executives running corporate finance departments—a polite way of saying the 50-plus crowd—tend to show less enthusiasm for adopting the latest technology. Nevertheless, at least a few national banks plan to launch social media initiatives this year that are intended to facilitate the flow of ideas between the bank and its treasury customers as well as among those customers.

Treasury & Risk

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