Barclays, HSBC, LBG, RBS: anti-social banks
Here’s a fascinating test, if you want to see how closed our banks are. Go on to any bank site and search for “Facebook”.
The results are a sad indictment of the state of social networking in the High Street banks. The result is unanimous. They all return “Not Found”. There are no social pages, email addresses or contacts either.
Sure, there’s the “ask a question” box, but no way to see what others are saying, no way to take part in any dialogue. And by dialogue, I mean a two way conversation. It’s not there.
Only banks aligned to customer needs will rebuild trust, so why aren’t they listening?
Browsing around the banks
Here’s a sample of the current crop of high-street bank sites. Not much to see, is there? They all look pretty 20th century, kind of web one-dot-zero.
It’s fair to say that Barclays has made some effort in how the user front end is presented. But it only serves to mask a mediocre back-end no different from the rest.
Here’s HSBC. The world’s biggest bank, is not unfortunately, the world’s best web design. The site layout is clean, but seems randomly laid out. The main navigation is illogical, too. HSBC seems big on talking, but isn’t into listening.
The worst site is Lloyds Banking Group. Web development and user design is one of technology’s fastest moving sectors. But clearly, Lloyds “journey” is a lot slower than most. “Welcome?” Forget 2010, think 1990. Even the branding’s out of date!
RBS. Its difficult to know where to start. The only way a corporate site can be this staid is when the person signing it off is totally clueless – and probably not even an Internet user. How else could they see this as a competitive offering?
Peas in a pod?
Now, go and look again at these sites, but try to imagine them without the brand colours. Notice that they all look exactly the same?
This isn’t for common look and feel reasons. Customers rarely use more than one bank after all. It’s just that none of our high street banks feels it needs to offer anything different. Nor is capable of doing so.
Anti-social behaviour
Many of our banks talk about service innovation and may have even used the expression social networking. They know its something people now do, but their arrogance prevents them accepting that a customer could have something important to say.
Social networking isn’t something that’s crept into the shadows of the marketing lexicon. Social networking is a key element of sales and how a viable market offering is created.
Clearly, there’s little to show that the UK’s banking high street’s doing anything new on-line. And without a dialogue with its customers, don’t expect change any time soon.
on July 22nd, 2010 at 10:40 pm
Back in 2007 I was one of the students who HSBC tried to screw with charges for the money we had to borrow to receive an education. Back then we thought we had no power but acting together we brought about a turnaround no one thought possible. It wasn’t that we had any power at that time it was HSBC who were scared of the PR damage our Facebook campaign could inflict on their reputation and ultimately their profits.
Its ironic then that now I am no longer a powerless student but become a business customer of this cartel of legitimised loan sharks I can have no voice in changing things or simply finding someone to agree with me that something is wrong and things MUST CHANGE.
Who speaks for the working woman struggling with her own business. Who is there to side with us against The City? The banks know if they are seen to talk to one then that one may turn into many and gain the voice they fear.
You are wrong to think they dont think our voice is worth hearing. It is that they fear the voice will be TOO LOUD.
Thankyou for allowing me to be heard.
Denise.
on July 22nd, 2010 at 10:58 pm
Hi, Denise.
Great to hear from someone who made banking history – although at the time I’m sure you never realised what you would achieve. What happened was you showed the power of social networking.
Your point is very well made regarding the “corporate power” of any group working in concert. I too see the irony that small business customers, despite the fact that they represent over 95% of all business in the UK, have no real voice.
The FSB is too fuddy-duddy and out of touch, the public sector Business Link – well its public sector, we can expect nothing from them. You’re right, 95% of business customers have no voice.
Finally, your point regarding the reason why the banks reject social networking. I stand corrected. Well done for spotting this. It has blinding clarity.
Let’s hope that a broken up banking community and the new boutique banks sweep away the arrogance and greed to provide the kind of service your student friends hoped for and created the mechanism to see happen. Keep watching. Change will come!
on July 23rd, 2010 at 11:20 am
Neil/Denise
I am sure you are right about the PR side of social networking but there is poetntially another issue. Banks are, rightly, paranoid about security and if they don’t have a coporate understanding of social networking this could be a bar to them making progress in this area.
Having said that Barclaycard have a good presence on FB – sure they advertise (linked to special offers based on their sponsorships) but they also do not seem to censor critism
On their web pages – do I care what they look like – no. Do I care that my bank is difficutl to navigate – yes. This is what needs to be fixed
on July 30th, 2010 at 6:41 pm
I have just been reading about how banks rip off savers. The bank spokesperson said it would be too much effort to inform their customers of rate changes. http://www.economist.com/blogs/buttonwood/2010/07/banks_and_savings_rates
So perhaps Social Networking is not in the bank’s interest (pun?) and therefore perhaps financially unattractive?
I am also with Denise, where she says: ‘You are wrong to think they don’t think our voice is worth hearing. It is that they fear the voice will be TOO LOUD’
Anyone fancy starting a bank? – It cannot be that hard to compete with the existing monopoly of greedy and selfish incumbents.
on August 3rd, 2010 at 4:19 pm
@Stephen. Just read your comment. It certainly looks like the financial crisis has taught our banker friend nothing if they can’t see the need to inform customers about changes likely to affect their financial status. That’s crazy and a good case to change banks but make sure they know why you changed!!
@Peter. Do you really feel talking to customers represents a “security” issue? Isn’t social networking just another channel at the end of the day?
@LanZen. What is your view on this?
on August 3rd, 2010 at 10:54 pm
Hi, Peter,
Thanks for your view. its an interesting and valid standpoint.
I can’t really see how simply providing a platform for public comment could represent a security threat, or even a change to the bank’s security profile. Every bank has a communications or PR section set up to respond to media enquiries, so a social network would be similar in that regard.
I think they fear being seen failing to listen and the way the media would then pile into them. Denise’s HSBC case is an example of what could happen. But deluding themselves into believing that if they ignore social networking it will somehow go away is no way to deal with it.
The BarclayCard FB page I must admit I’d not checked out – I was concentrating on banking itself. I’ll take a closer look. Thanks for pointing that out!
Finally, I accept that you may not care what a site looks like – functionality is far more important, but in a world where the banks are struggling to differentiate themselves, it illustrates how little imagination they have.
Anyway, its great to get such a wide range of points covered in your comments, it certainly have made me think.
on August 3rd, 2010 at 11:02 pm
Hi, Stephen,
Good to hear from you!
I was amazed at your experience. What a totally irresponsible attitude your bank has. Can they really treat people like that?
As for starting a bank, well, let’s give the new boutique banks a shot. I think they could well point the way… particularly Metro and Walton and Co. Not too sure about Virgin, Richard Branson talks the talk but is a bit too institutionalised these days.
His train service is hardly radical, or cheaper, is it?
on August 3rd, 2010 at 11:04 pm
Hi, Denise,
Well, I agree with you. A social network is just another channel. The banks appear on TV, on the radio and respond to the print media, why not their customers?