Social media

Banks such as FNBO and Ally Financial have taken to the social media channel to appeal to younger customers.

Searching Google for information about student loan forgiveness surfaces advertisements that either appear to violate content policies or lead people to scams, according to a watchdog group, increasing public confusion as the Biden administration mulls actions on student debt.

The chief executive of Klarna Bank has polarized opinion on social media after posting a contact list of former employees recently dismissed by the Swedish company as part of a drive to curb costs.

First National Bank of Omaha, FNB Community Bank and Community Spirit Bank are among institutions turning to Instagram for marketing.

Central Pacific Bank is trying hard to appeal to young residents of Hawaii as well as the mainland U.S. and Japan. It's positioning its new digital checking account as a lifestyle brand as much as a financial product.

Using social networks to make purchases and non-credit-card options like buy now, pay later are a permanent part of retail, Dan Brames of FIS writes.

ByteDance's TikTok is working with brands including streetwear label Hype to test in-app sales in Europe, a move that will intensify its competition with Facebook Inc. and further blur the line between social media and online shopping.

To embrace social commerce, merchants should prioritize data privacy, communication of delivery timelines and a seamless checkout experience.

The social media platform skews toward a more youthful demographic, while credit unions' average member age has been stuck in the late 40s for decades. But even institutions that use it have concerns about security.

Truist, First National Bank of Omaha and Peoples Bank in Washington state are finding creative ways for loan officers, financial advisers and others to become ambassadors on platforms including Facebook and Instagram.