This Thing of Social Media!: Indeed a Platform for Running or Developing Business in the Financial Sector

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Author(s): Akwesi Assensoh-Kodua (Durban University of Technology, South Africa)
Copyright: 2022
Pages: 26
Source title: Handbook of Research on the Platform Economy and the Evolution of E-Commerce
Source Author(s)/Editor(s): Myriam Ertz (LaboNFC, University of Quebec at Chicoutimi, Canada)
DOI: 10.4018/978-1-7998-7545-1.ch017

Keywords: Business & Management / Business Science Reference / E-Commerce

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Abstract

This chapter is about social media and its networking platforms and how they can run or develop a business in the financial sector. As a platform economy, this sector ranges from shadow banks such as mutual funds, leasing companies, brokers, and credit insurance companies to other money market mutual funds. Nevertheless, recent studies in this sector have only focused on the money market, thus creating a vacuum of how social media can run or develop the banking sector through this platform. The social media platform has transformed drastically from being a place for just interaction to buying and selling, forcing many businesses to register on one or two of these media to take advantage of the ever-growing market potentials they offer. However, it also comes with its challenges. This chapter highlights how to manage this medium for a successful business. The study collected data online from bank clients who ever used this platform to transact financial business.

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This Thing of Social Media!: Indeed a Platform for Running or Developing Business in the Financial Sector

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