The DHS daily open source infrastructure report said today that, “Gartner calls on banks to adopt Web 2.0 technologies”

Financial services firms should use Web 2.0 applications such as wikis, podcasts and blogs in order to improve cross−enterprise collaboration and deliver personalized information to clients, according to Gartner research group. The report says that engaging with customers through call centers and via Internet campaigns is no longer sufficient and recommends that banks adopt Web 2.0 applications in order to provide personalized services to customers. Banks should also deploy RSS syndication, podcasts, and tags to deliver content covering online banking security and financial education topics. (Gartner report)

Now, I agree with these statements 100% but it reads like someone who knows little about the Internet wrote a Web 2.0 Mad Libs for banks. It’s like saying that houses should be built with strong materials to withstand natural disasters.

Sure it sounds good in theory, but what is the cost and will they use it? It’s almost as if the writer had just watched Field of Dreams and though, “If the banks build it, they will come.”

In all practical terms I can see Credit Unions implementing these items long before Banks adopt them because they are member owned while banks are more bottom-line orientated.