2024 Journal of Community Bank Case Studies

2024 COMMUNITY BANK CASE STUDY COMPETITION

broader audience, making it ideal for promoting products and educating customers through more detailed content. The bank continuously assesses the impact of its social media efforts to maintain a strong focus on brand awareness and increase engagement (Albrecht, personal interview, 21 Mar 2024). Potential risks with social media Misinformation, rumors, and negative feedback present significant risks to b1Bank, due to social media’s ability to rapidly spread misinformation about the bank’s financial stability. To quickly identify threads of negativity or misinformation, b1Bank and SASSO use the Notified app, which scans social media for comments and conversations mentioning ‘b1Bank’ or the names of its executives and employees across the internet. b1Bank also uses an in-house monitoring tool to capture traditional media mentions and any comments on made on their social media pages. b1Bank’s marketing team handles negative comments and misinformation as quickly as possible and tries its best to remove any blatant misinformation from the internet (Albrecht, personal interview, 21 Mar 2024). Addressing misinformation on personal social media pages is a straightforward task for b1Bank, but correcting inaccuracies on external pages involves a more complex process. The social media team’s commitment to navigating these challenges underscores their dedication to maintaining b1Bank’s reputation and trustworthiness. In the case of a negative comment from an unsatisfied client, b1Bank quickly responds in the comments section or contacts the dissatisfied person privately to help resolve their

issue. By engaging directly with users and always posting factual information, b1Bank effectively controls the narrative and reassures stakeholders of the trustworthiness and stability of the bank. Every community bank must focus on maintaining privacy and compliance to adhere to regulations regarding personal information as well as demonstrating to customers that the bank is a good steward of the customer’s information. Social media platforms may inadvertently compromise a customer’s

ALM is the process of managing the

mismatch between a firm’s assets and liabilities to mitigate resulting financial risk.

information through the accidental sharing of sensitive information or non-compliance with advertising standards (FDIC). To address this risk, b1Bank SASSO, as they are well-versed in adhering to regulatory compliance and the nuances of customer privacy. b1Bank enforces strict approval processes for all social media content to ensure it meets legal and regulatory standards before posting. Furthermore, b1Bank regularly audits its social media practices to

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