The research stated that private banks have failed to establish presence on sites such as Facebook, Twitter and YouTube as a part of their social media strategies.
For the research, assetinum had examined 50 private banking and wealth management institutions’ social media activities and scored them out of 100.
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It has been shown that the companies studied do not have active profiles on Facebook, including Goldman Sachs that is an investor in the social networking giant.
Further, while twitter accounts have been set up by 42 of the 50 banks, only 26 of them have responded as being active to users that tweet them. Only half of the respondents have up-to-date YouTube channels, with only 15 of them using the media to talk about wealth management issues.
Though 49 respondents have LinkedIn profiles, only 14 of them present had additional content and eight cultivate interaction with users.
It was also found that of the 19 banks having their own blogs, only six of these offering had any interaction with users and less than half had sites optimized for smartphones and 14 had apps.
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By GlobalDataOverall the companies involves in the research scored an average of 43 out of 100 possible points, though some like Citi, Société Générale and ABN Amro scored above 80.
Small players such as Rothschild, Bank Sarasin and Bank Jacob Safra scored the worst in the research.
