Banks: Technology with a Twitter twist….

twitter cash

As we await stress tests for European banks you do wonder how focused banks can be on technology and consumer trends. With a litany of regulatory and litigation issues still on desks many could be left behind….

Thought this snippet was interesting from Reuters which needs no further comment…

One of France‘s largest banks is teaming up with social network Twitter Inc. (TWTR.N) this week to allow its customers to transfer money via tweets.

The move by Groupe BPCE, France’s second largest bank by customers, coincides with Twitter’s own push into the world of online payments as the social network seeks new sources of revenue beyond advertising.

Twitter is racing other tech giants Apple (AAPL.O) and Facebook(FB.O) to get a foothold in new payment services for mobile phones or apps. They are collaborating and, in some cases, competing with banks and credit card issuers that have run the business for decades.


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