IT Examiner School, Providence, RI

Rewards with Social Media

 Customer interactions  Forum for FI activities in the community  Reputational as an innovator  Expands the reach outside FI “territory”  Can use social media to keep marketing costs down

Risks with Social Media*

 Compliance Risk  Operational Risk  Reputational Risk  Privacy Concerns  Third Party Reliance  IT Concerns  Inaccurate Statements  Record Retention  Payment Systems

*Risks defined by FFIEC SM guidance