Trying to Understand Twitter

Not wanting to be a technology laggard, I've joined the millions of people (anywhere between 1 million and 10 million, depending on how you count), including BS&T's Maria Bruno-Britz, who have become Tweeters.That is, you can find and follow me on Twitter at KathyBurger. I'm curious to learn about how this entertaining Web 2.0 application might be able to help me spread the word about new Bank Systems & Technology initiatives, identify potential sources or event attendees, and bring professionals to our Web site. Then again, it could turn out to be a huge distraction. For now, I'm keeping an open mind, but I also still need to be persuaded about meaningful business applications for Twitter.

As I write this blog, lots of people are tweeting about President Obama's announcement of a $500,000 salary cap on executives at companies that receive large amounts of bailout money. They're also complaining about TARP spending and speculating about bank layoffs and hiring. So Twitter clearly is a channel that can facilitate discussion and idea sharing about critical issues in banking. Might it also enable self-indulgent ranting and name calling? Of course, but that seems to come with the territory in the brave new Web 2.0 world.

I'll keep you posted on BS&T's ongoing efforts to leverage this amazing technology. In the meantime, what do you think about the business potential for Twitter and other social media applications in banking? Let me know what you are (or aren't doing) -- I'll meet you in cyberspace.

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio