Wow! What Is This World Coming To?

I just saw a video from Commonwealth Bank of Australia about its social marketing efforts. According to Chief Marketing Officer Andy Lark, “We’re changing the way banking happens.”

What interests me is that they are using technology to help make their customers lives better, and they are doing it without losing the intimacy of customer connection. We all know that convenience is one of the top reasons people choose one bank over another. Until recently, being convenient meant putting a huge emphasis on branches and ATM numbers and locations. But with mobile banking, things are different.

Through the use of “Marketing Cloud” and “Salesforce Chatter,” the bank that serves half of their country’s citizens has managed to bridge the gap between technology and personal interaction with their customers. Michael Harte, CIO at Commonwealth, says that social technologies are helping build relationships between the bank and its customers that emulate the personal connections people once had with their local branch. “If we can bring back some of that intimacy, we’ve brought back the very essence of trust and transparency.”

The attached video shows customers interacting in real time, talking to a real persons on their mobile device as if they were in a branch – very cool. Can you imagine going to look at a house you want to purchase, holding up your smart phone, taking a picture and receiving all the information you need, including a loan approval on the spot! Amazing! Watch the video here:

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