Suddenly there’s a lot of interest in our fintech startup Facebook page - StrongJonesUK.
What is interesting is that I was under the impression that Facebook was lagging behind other social media platform. It had been "cool" a few years back, but that it had peaked and was now on a plateau, even a slow downward turn. With Twitter and Linkedin, Instagram, YouTube and all the other platforms heavily in use, it seemed like an “older person’s” (i.e. my friends and I in our early forties) social media network.
Well – Go “older person’s network”!
According to the BBC Business article this morning, Facebook profits are up 186%! They earned $ 2bn (£1.5bn) in the period from April to June 2016, up significantly from the same period last year, which was $ 719m in 2015.
By comparison, Twitter's MAU increased by just 3% in that period.
The anticipated revenue was $ 5.8bn, but Facebook brought in $ 6.4bn. Mark Zuckerberg was pretty chuffed, as you can imagine.
"Our community and business had another good quarter," he said, "We're particularly pleased with our progress in video as we move towards the world where video is at the heart of all our services."
A year ago I moved to London and left my family, my friends, my colleagues behind. During this week, I was commenting to a friend who was staying in a remote town for business, (over Facebook, as it turns out!), how this particular social medium has been a huge factor in getting over the sense of isolation. I was and am able to tune in to people no matter where they are in the world, and still be a part of their lives. Social Media (and Facebook can take a lot of the credit) has changed the world.
And being social media savvy and banking tech savvy is not an option anymore. You are simply unable to compete if you don’t have access to these platforms.
Banks have their work cut out in trying to adapt and invent products and approaches to deal with the ever-changing demands of their clients. Just the other day, the StrongJones team were thrilled to be invited to compete in the annual BNP Hackathon, proving we are amongst the brainiest 96 startups in the fintech space! The event engrossed teams in eight cities across the world over the weekend of the 17th – 19th June.
And Tech-savvy banking is our game! Our StrongJones financial management for individuals, SME’s and retail is in the Beta stage of it’s growth. At StrongJones we offer up-to-date technology and precise, current banking product information to our customers. It’s really worth test-driving our personalised Savings Marketplace and Digital Dashboard, which, by informing you of the best rates available on the market, help you maximise your cash savings. Drop me a mail if you are interested in joining our Beta Group at email@example.com
So – I’m not surprised that Facebook has done so well recently – it is still accessible, user-friendly and effective. It has adapted with the times, in fact, has lead the rest in many areas. All I can say is that there may be other platforms out there, but Facebook is still a very user-friendly and Truly Social network for me.
Heather Greig (These views are strictly my own.)
Akoni helps businesses make the most of their cash. Register for free at AkoniHub.com