BANKING TECHNOLOGY | Cesar Tordesillas, Malaysia

Malaysia's CIMB utilizes Facebook for deposit campaign

Integrating social media into business.

CIMB Bank made a breakthrough in this aspect in launching its Savings Circle, the world’s first fully-integrated bank deposit campaign run over Facebook.

“The bank is one of the earliest adopters of social media among banks," said CIMB Group deputy chief executive officer/head of consumer banking, Renzo Viegas.

Viegas noted that since the start of its social media presence in 2010, its pages had served over 1.3 million Facebook fans across Asean.

"It is Asean’s most ‘linked’ bank,” he said at the launch of the campaign.

“Our customers today are so engaged on social media — we see immense potentials in this channel," he admitted.

In a statement, CIMB Bank said the Savings Circle was a deposit campaign that leveraged on the viral nature of FB.

“Unlike a typical deposit campaign that is primarily individual-driven, this campaign uses strong crowd-sourcing elements to reward individuals and their friends for saving together,” it said.

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