22 Hoosier Banker May 2015 Your bank is heavily involved in the communities you serve. You sponsor the local sports teams, support community festivals, and provide personal service and expertise to the people who live in your communities. Now consider your bank’s commitment to community in light of the following definition of social media: “Forms of electronic communication through which users create online communities to share information, ideas, personal messages and other content.” In other words, social media is the electronic-channel version of your ongoing outreach. As a community bank, you can’t afford not to be a part of the community. To aid with your social media planning, CSI WatchDOG is a tool that allows banks to be involved in social media at the level they choose, with the peace of mind that they are complying with the guidelines of the Federal Financial Institutions Examination Council (FFIEC) regarding social media. CSI WatchDOG permits banks to minimize the risk of incurring social media compliance violations. As a plus, it enables banks to monitor comments through keyword searches, allowing the appropriate bank personnel to provide quick responses to customer complaints or concerns — key to minimizing potential negative firestorms. Members of the Indiana Bankers Association understand the need to be active in social media, but they are rightfully concerned about what will be said, who will say it, frequency of postings and regulatory compliance. The answer to this dilemma is the CSI WatchDOG solution, effective in minimizing many of these concerns. In addition to following FFIEC guidelines, CSI WatchDOG allows your bank to set checkpoints in place, prior to your staff releasing posts to a social media outlet. For instance, if you choose to have all posts proofread by marketing/compliance personnel before posting — to verify that posts meet your bank’s public PSP SHOWCASE About the Author Rod Lasley is vice president-products & services of the Indiana Bankers Association, and also serves as president of the for-profit companies owned by the IBA. He can be reached at 317-387-9380, email: rlasley@indianabankers.org. message and are compliant with regulatory standards — CSI WatchDOG will notify the appropriate staff of pending releases before they hit the Internet. This tool also permits your marketing team to coordinate message posts across various different social media outlets with the ease of a single entry, rather than having to rekey information, and allows your team to preplan release dates. Strategic messages can be set up and readied for an entire month, quarter or longer time period, so that staff will not have to micromanage daily. Your marketing professionals will be freed to pursue what they do best — work with customers and creatively promote your bank’s image. Finally, CSI WatchDOG will archive all Facebook, Twitter, YouTube and LinkedIn posts for required timeframes; scan the Internet and specific sites to track/report on hits for keywords; utilize targeted search capabilities; perform reputation and sentiment analysis; and evaluate the institution’s competitive landscape. These options give your bank valuable information, keeping you informed about how your bank is being perceived in the social media arena, while providing the appropriate information necessary for regulators and auditors to complete their reviews. With the CSI WatchDOG social compliance solution, your bank can navigate the world of social media worry-free. For more information about CSI WatchDOG, contact Rod Lasley at 317-387-9380, email: rlasley@indianabankers.org. t Be a Part of the Community … The Electronic Community, Social Media!
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