Episode #7

Sentiment Analysis and How Banks Use Social Media

« previous episode | next episode »

Tuesday, October 23, 2012

The social media realm can at times seem like a frivolous place full of out-of-focus photos and posts about what your friends ate for breakfast. But for businesses, it can also be a cash cow thanks to the sheer number of people you can reach with something as simple as a tweet.

Facebook recently announced that a billion people — one in seven in the world — use the social network, and 60 percent of Americans log on to some form of social media, according to a study released Friday by the Pew Research Center.

This week on New Tech City, WNYC business reporter Ilya Marritz investigates how traders are crunching millions of data points from Twitter and other sources in the hope of generating serious money.

It's a growing field of research known as "sentiment analysis," where investors analyze messages posted on social media and headlines on news sites to help determine how to invest.

Then, New Tech City host speaks with Mark Schwanhausser, an analyst with Javelin Strategy and Research who studies how banks are using social media for branding, marketing and replying to customer complaints.

He says big U.S. banks have been slow to develop a social media presence compared to other American businesses in part because of their "locked down" culture.

"Banks are ones that like to control the message," Schwanhausser said. "And when you start putting things out onto social media, on Facebook and Twitter for instance, you lose that control."


Mark Schwanhausser

Hosted by:

Manoush Zomorodi

Produced by:

Daniel P. Tucker


Charlie Herman


Ilya Marritz
bank of america atm

Would You Do Your Banking on Facebook? Pushing Your Tech Comfort Zone

People I know who work on Wall Street often have two phones (one for personal, one for professional use) and limited access on their work computers to any website that hasn’t been completely vetted.  Security and privacy are paramount in the financial industries for obvious reasons, including regulatory.

Comments [1]

For Some Stock-Pickers, Life Is Tweet

What if Facebook likes and Twitter posts could give investors clues about market trends? The idea may not be as farfetched as it sounds.


Three Apps I Can't Live Without | Mark Schwanhausser

Mark Schwanhausser is an analyst at Javelin Strategy and Research and studies trends in online banking. Here are the apps that he loves on his iPhone 4S and iPad.


Are Americans Ready for Banking via Social Media?

A bank in South Africa announced this summer that its mobile banking customers will now be able to conduct transactions and monitor their accounts through Facebook. This type of cross-pollination between banks and social media does not yet exist in the United States, but it could be coming.

Comments [1]

Leave a Comment

Email addresses are required but never displayed.

Get the WNYC Morning Brief in your inbox.
We'll send you our top 5 stories every day, plus breaking news and weather.