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BBVA Compass Names Facebook Idea Contest Finalists

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BBVA Compass announced Friday its five finalists for a social media contest that sought fresh ideas for small businesses on the bank's Facebook page.

The finalists' ideas range from creating a digital tool to help consumers choose healthier food options to the concept of a company that repurposes wine bottles into natural soy candles.

The bank launched the contest in October through an app on the bank's Facebook page. BBVA will give two $10,000 prizes after the final round of voting on January 15. One of the rewards will go to the entry that receives the most votes on Facebook while the second prize will go to the idea that a panel of the bank's judges chooses.

The contest is the latest example of a bank running a social media contest to foster engagement. For instance, Bank of Hawaii recently used a social media game to encourage customers to make deposits.

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