Lenders don’t usually bank on Facebook, Twitter

Security risks and regulatory restrictions regarding what to post and what not on Twitter, Facebook, Snapchat, Linked In, Instagram or Pintrest, are keeping these firms away from such social media-savvy candidates.
Security risks and regulatory restrictions regarding what to post and what not on Twitter, Facebook, Snapchat, Linked In, Instagram or Pintrest, are keeping these firms away from such social media-savvy candidates.(kbuntu - Fotolia)
Security risks and regulatory restrictions regarding what to post and what not on Twitter, Facebook, Snapchat, Linked In, Instagram or Pintrest, are keeping these firms away from such social media-savvy candidates.(kbuntu - Fotolia)
Updated on Jul 25, 2016 05:57 PM IST
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ByHimani Chandna and Mahua Venkatesh, New Delhi

Banking or financial services companies may not appreciate your fondness for social media, if you are looking for a job at those places.

While most sectors are welcoming such candidates, financial organisations are still unsure. Security risks and regulatory restrictions regarding what to post and what not on Twitter, Facebook, Snapchat, Linked In, Instagram or Pintrest, are keeping these firms away from such social media-savvy candidates, bank executives said.

A senior private sector bank executive told HT: “Due to increased social media use, our bank has strict clauses regarding confidentiality of critical information and financial data.”

However, according to a study by survey firm Gallup, one-third of customers who interact with banks using the social media are in the high-income bracket. This means executives can use the platform to tap rich customers.

“Sooner or later, the sector will open up more vacancies based on social media skills, though with strict usage clauses ,” said Rituparna Chakraborty, co-founder, staffing firm Team lease Services.

Yes Bank managing director and CEO Rana Kapoor said use of social media is critical as it directly connects with the youth. “You cannot ignore such potential candidates. But there is need to fire-fence it to ensure no confidential information is given out , and for this we have 24×7 vigilance.”

Read | Think before you post on social media! It may hurt your hiring prospects

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