Tuesday, December 29, 2015

Bankers Worry More About Social Media Than Interest Rates

While it’s probably fair to say the banking industry still ranks fairly low in the public’s esteem, no one can deny its central role in the economy and it’s always interesting to see what the little weasels are thinking about. On that note, PricewaterhouseCoopers has released the 2015 edition of “Banking Banana Skins,” based on a global survey of 672 bankers conducted with the Center for the Study of Financial Innovation, asking what keeps them tossing in their silk sheets at night. 
One thing that stands out in the 2015 survey, amid usual suspects like regulation and cyber crime, is the rapid rise of social media as a major threat: from 2014 to 2015, social media rose from nineteenth place (out of 25) to eleventh place, putting it ahead of more familiar concerns like capital availability in thirteenth place, interest rates in fourteenth place, and emerging market volatility in fifteenth place.

According to regional data, social media loomed even larger in the minds of North American bankers, where it took sixth place following major risk factors like cyber crime and the overall macroeconomic outlook.

Read the entire article here courtesy of MediaPost.com.