The finance sector is famously behind other industries in the use of social media. Co-operative Financial Services IT chief Jim Slack aims to change that situation, as my latest feature for silicon.com shows.
Financial services firms are probably not the first type of business you would think of when it comes to the adoption of social media. In fact, they might be the last.
silicon.com recently reported the suggestion that case law from 1924 prevents finance companies from publicly identifying an individual who has an account with them, which makes responding to customer queries via social media a potential legal minefield.
Other reports regularly suggest banking CIOs have been slow to adopt social media. But Jim Slack, the business leader of IT operations and development at Co-operative Financial Services (CFS), is encouraging his organisation to take a different stance.
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