With it upper limit of 140 characters, Twitter Inc (NYSE:TWTR) may describe itself as a micro-blogging site but that does not take away anything from the intensity of impact which its messages can cause. For any professional, especially bankers and financial experts, 140 characters are more than enough to bring about a financial debacle or trigger substantial windfall gains and this is where the importance of training comes in.
Although social media platforms like Twitter Inc (NYSE:TWTR) have always been treated with caution in financial circles, their growing importance in communication is inevitable. Therefore, it is but natural for an executive to tweet a message during his course of work without realizing its repercussions in the outside world. Examples of Hastings’ post on Facebook in 2012 and Anthony Noto’s accidental revelations in November, 2014, are indicative of the storm that a misplaced tweet is capable of stirring.
It was with this in mind that Social Media Charter was launched in London on Thursday, 11th December, 2014, led by Kitty Parry, founder of Templars Communications. The main topic which was the focus of discussion on its debut date pertained to guidelines for using social media effectively to promote positivism and trust. Several leading banks and financial institutions like HSBC, Citibank and Threadneedle graced the occasion since Twitter Inc (NYSE:TWTR)’s platform has been instrumental in determining flow of information in these circles.
Citibank’s vice-president Stuart Popham reasoned as follows –
“It is obvious that the financial services industry has to ensure that social media is only used in a responsible manner to avoid further mishaps.”
Antonio Simoes, Chief executive, HSBC, extended support through his following comment –
“Our customers are increasingly choosing to communicate with us using social media so it’s desirable that we have clear standards to meet their expectations.”
Having formalized its stance and issued guidelines pertaining to the nature of the message as also its non-compliance, this regulatory body is well on its way to ensure that Twitter Inc (NYSE:TWTR)’s platform remains well within its scrutiny and does not become a playing ground for rumor machines.
This article has been written by Vinita Basu.