APAC banks make impact in global power 100 survey


The Commonwealth Bank of Australia (CBA) leads Australia’s banks in a power 100 survey that has ranked the top 100 banks and credit unions around the world based on their activity on social media websites Facebook, Twitter and YouTube.

CBA came in at position 20, while other Australian banks on the list included the NAB (30), Westpac (33), ANZ (39), UBank (75), Bank of Queensland (81), Bankwest (86), and Bank of Melbourne (95).
In New Zealand, Bank of New Zealand was the country’s leader at position 48 while ASB (53), Westpac NZ (71) and Kiwibank (80) also made the list.
Gartner analyst Ethan Wang says social media is a major battlefield for banks to strengthen their connection with customers, and then monetise the value of the new digital ecosystem.

Indian banks made a significant impact with three banks from the country making the top 10, ICICI (5), Axis Bank (7) and HDFC Bank (9).
China’s Credit Suisse was the only Chinese financial institution to make the list, coming in at 12 while the Philippines’ Bank of Philippine Islands came in at 26.

Wang said there is a reason for only a small representation from Chinese banks on this list, “non-banks and disruptive forces including social media firms are building their own digital ecosystem through Open API and other approaches – one thing missing from the list is social messaging platforms like whatsapp and wechat. Some major Chinese banks are already making their banking services available through WeChat in China.”

Other Asian banks to make the list included Singapore’s DBS and OCBC, and OCBC in Malaysia.

View the full list here.