Social Media Channels for CWBA

Running Head: MANAGEMENT
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Preparation for
Professional Practice
Commonwealth Bank of Australia
(Student Details: )
10/4/2019

Management
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Contents
Social Media Channels for CWBA............................................................................................2
Introduction................................................................................................................................2
Social Media impacts on Core Business of CWBA...................................................................2
Social media channels and their use for CWBA........................................................................4
Kaching..................................................................................................................................5
CommBank kaching: the Facebook app................................................................................6
Instagram, YouTube, Twitter and LinkedIn..........................................................................7
Bump......................................................................................................................................7
Pros and Cons of the use of social media at CWBA..................................................................8
Positives of Social Media at CWBA......................................................................................8
Negatives of Social Media at CWBA....................................................................................9
Issues or Problems with current social media usage............................................................10
Bank bill swap rate allegations........................................................................................10
Money laundering scandal...............................................................................................10
Data and information loss................................................................................................10
Analysis of how social media channels are getting used by the chosen business....................10
Identification of other social media channels for future business growth of CWBA..............11
Useful Recommendations........................................................................................................12
Conclusion................................................................................................................................12
References................................................................................................................................14

Management
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Management
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Social Media Channels for CWBA
Introduction
This report is based on demonstrating a preparation for professional practice with the help of
this research on world-famous banking firm. To do so, this discussion has chosen
Commonwealth Bank of Australia (CWBA) which is continuously providing banking
services since 1911. The bank is providing quality products and services to the global users
since 107 years. The chosen financial institute was worked as a government bank initially and
later the CWBA started working as a public company since 1991. It has been found that the
bank is abbreviated as CommBank. It is an Australian multinational bank while doing
businesses in United Kingdom, United States, Asia and New Zealand (CommBank 2019,
2019). This firm is providing a variety of banking services such as retail, business, and
institutional banking, funds management, superannuation, insurance, investment as well as
booking services. This firm has been chosen for writing this research report because CWBA
is the biggest Australian listed firm as of 2015. The aim of this report is to identify the
importance of social-media for CWBA (CommBank, 2019). For doing so, the presence of
CWBA has been considered in Australian market only. In addition, an examination of bank
website as well as social-media presence will be conducted in detail. Here, CWBA is going to
examined based on their presence on Twitter, YouTube, LinkedIn and Facebook while
covering internet banking options as well (Commonwealth Bank of Australia, 2019). In this
way, with the help of social-media presence an analysis of the impacts of social-media on
CWBA’s core business will be executed.
Social Media impacts on Core Business of CWBA
With the help of social-media, one can use CommBank wherever they are in this world. It has
been found that social-media offers an individual the control as well as choice for securely
managing all of their accounts across a range of devices in the way they want. Digital
technology in the form of various social media channels, is giving the bank huge flexibility
while offering great services to its users (Commonwealth Bank of Australia, 2019). In this
way, social-media is leaving positive impact on the business of CWBA as it allows enhanced
access, track, and management of one’s money all across wide range of devices. Social-media