Implications of Web 2.0 for Financial Institutions: Be a Driver, Not a Passenger

Deutsche Bank Research, E-conomics, Vol. 63, July 31, 2007

11 Pages Posted: 31 Jul 2007

See all articles by S. Heng

S. Heng

Baden-Wuerttemberg Cooperative State University

Thomas Meyer

Deutsche Bank Research

Antje Stobbe

Deutsche Bank Research

Abstract

Web 2.0 heralds a new era of communication with a massive increase in information supply and where news, opinion and services flow directly from user to user. Financial institutions can take advantage if they stay abreast of this development. However, any Web 2.0 presence of a financial institution must be authentic and consistent with the institution's brand and corporate culture. To leverage the potential, the need for an immaculate reputation and the right type of brand is becoming ever more important.

Keywords: information- and communication technology, ICT technology, P2P, Web 2.0, banking, blog, virtual worlds, wiki, lending, e-business, e-commerce, B2C-e-commerce, internet, e-payments

JEL Classification: E42, E51, G29, O14, O33

Suggested Citation

Heng, Stefan and Meyer, Thomas and Stobbe, Antje, Implications of Web 2.0 for Financial Institutions: Be a Driver, Not a Passenger. Deutsche Bank Research, E-conomics, Vol. 63, July 31, 2007. Available at SSRN: https://ssrn.com/abstract=1003973

Stefan Heng (Contact Author)

Baden-Wuerttemberg Cooperative State University ( email )

Coblitzallee 1-9
Mannheim, Baden-Wuerttemberg 68163
Germany
+49 621 4105 1183 (Phone)
+49 621 4105 1245 (Fax)

HOME PAGE: http://www.mannheim.dhbw.de/profile/heng

Thomas Meyer

Deutsche Bank Research ( email )

Taunusanlage 12
60325 Frankfurt am Main
Germany

Antje Stobbe

Deutsche Bank Research ( email )

Taunusanlage 12
60325 Frankfurt am Main
Germany

Register to save articles to
your library

Register

Paper statistics

Downloads
898
Abstract Views
4,072
rank
25,980
PlumX Metrics