FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

Citi Asks: Do Consumers Want to Bank Within Facebook?

Mary WisniewskibyMary Wisniewski
July 16, 2012
in Archive
Reading Time: 2 mins read
0
Share on Facebook

Over the weekend, global bank Citi asked consumers through its official Facebook and Twitter channels: If you could do your banking on Facebook – Would you?

As of 2:30pm ET today, Citi had 777 individuals “like” the post and 48 people “share” the post, but the majority of commenters wrote that they would be reluctant to do Facebook banking because of  security concerns. A sampling of those hesitations:

  • Tetsutaro Hirano: I don’t wanna do my banking on FB, but the idea that banks help business matching in FB may be interesting.
  • Greg Kraft: Security would be the only issue. There would have to be another password for the Citibank Facebook app.
  • Adeline Sim Boon Yeow: love too but will still think about the security issue provided the level of security is high
  • Michael E. Rubin: There would be no way in hell in which I would do my banking via Facebook. Especially if Citibank was a part of it. This bank has a major communication problem between the financial centers, and the customer service center. I would be too worried they would lose my money during a facebook transaction, and would tell me to call Facebook to complain!
  • Eric Bathke: over my dead body

Still, there was some positive feedback to Citi’s query. Harry Dent, for example, wrote:

  • I think they should allow banking on facebook but when you set it up you have to set some questions and answers like security questions and every time you try to view or complete something you have to answer the question(s)…? But sounds like a good idea.

We reached out to Citi this morning to find out what its aim is, but have yet to hear back. To us, Citi’s question points to how banks, even U.S. ones, are seriously toying with the possibilities of Facebook banking.

Separately, Citi told Bank Innovation in March that “developing a solution for consumers who are looking for a social banking experience” was one of the winning ideas in its “Citi Ideas Challenge” employee contest.

Other banks, meanwhile, have made their social media banking plays known.

In June, ASB Bank’s New Zealand announced that its customers will soon be able to pay their Facebook friends through the social platform thanks to a mobile app update announced this month. Missouri-based Vantage Credit Union, for another, launched Twitter banking a few years back.

Tags: CitibankFacebookFacebook bankingSocial Media
Previous Post

A Credit Card Makeover

Next Post

Improving Customer Service through Lobby Management Technology

Related Posts

(Courtesy/Bank Automation News)
Archive

Lama AI wins fintech demo challenge at BAS

March 4, 2025
Courtesy/Grasshopper Bank
Archive

Grasshopper Director of Engineering & Platforms Andrew Braun to speak at Bank Automation Summit 2025

February 12, 2025
Courtesy/Canva
Archive

Q&A with LemonadeLXP CEO John Findlay on AI-driven knowledge management, training

January 9, 2025
Next Post

Improving Customer Service through Lobby Management Technology

Please login to join discussion

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

FinAi Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

Connect

twitter linkedin podcast podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account