1CASE STUDY: BOK FINANCIAL

Case Study:

BOK Financial

Businesses are Banking on Social 2014 is a big year for banks. Now that regulatory audits acknowledge social media, banks look to scale their social strategies. But navigating regulations and social media to achieve the greatest return for the bank, shareholders and customers can be challenging.

Today, most banks use social to connect with customers and better understand their experience. However, innovative banks are driving employee engagement and embedding social into existing operations. This improves their customer relationships, services and efficiency.

BOK Financial Corporation, one of the top 25 banks in the U.S., is an example of a financial organization integrating social in their business. To remain compliant on social media, BOK Financial relies on Hootsuite Enterprise Solutions in conjunction with the Global Relay partnership integration.

Based in Tulsa, Oklahoma, BOK Financial has more than 4,700 employees over eight states and ten markets. BOK Financial Corporation is a publicly traded regional financial services company that operates the following divisions:

�� Bank of Albuquerque

�� Bank of Arizona

�� Bank of Arkansas

�� Bank of Kansas City

�� Bank of Oklahoma

�� Bank of Texas

�� Colorado State Bank and Trust

2CASE STUDY: BOK FINANCIAL

Challenges of Securing Social Media BOK Financial’s top social business goals are to promote financial literacy and build an engaged community across their bank brands.

To ensure enterprise-wide risk management, BOK Financial executives faced several challenges regarding the security and control of social media:

�� Archiving all digital communications for compliance and regulations

�� Compliance pre-approval for outbound social communications to mitigate risks of employees engaging with customers in uncontrolled environments

�� Sync social with existing compliance and customer service technologies

Achieving Success Archiving Social CommunicationsOne of the predominant reasons that BOK Financial’s executive team chose to integrate Hootsuite Enterprise across their organization is due to the Global Relay integration.

In a regulated industry, BOK Financial must archive all communications for federal reference. Hootsuite Social Compliance archives all dashboard communications with Global Relay. This information is available for easy access by a permitted team member.

Hootsuite Integration Partner Global Relay ArchiveWith Hootsuite Social Compliance, outbound social media communications sent through the Hootsuite dashboard are automatically archived by Global Relay.

Global Relay is an archiving vendor designed for the financial industry, including 22 of the top 25 global banks. It is third-party validated under the SSAE 16 auditing standard, and the only message archiving vendor in FINRA’s Compliance Resource Program.

“ The Global Relay integration’s comprehensive social media pre-approval, surveillance and archiving solution provides that piece of compliance that other platforms are missing. Hootsuite’s security and monitoring capabilities lets us build relationships, but ensures that private data isn’t shared.”Janet Gunzenheiser, Social Media Strategist, BOK Financial

3CASE STUDY: BOK FINANCIAL

Compliance Pre-Approval for Outbound SocialThe Hootsuite dashboard is well equipped with security and control features for further protection. For example, Hootsuite’s limited permissions allows management to pre-approve all messaging.

This feature allows BOK Financial’s teams to safely collaborate and contribute to conversations. One of the ways that BOK Financial is an innovative bank is in their use of social media across their entire organization. Their customer service, marketing, HR and executives alike can contribute to brand conversations.

Working Together with Existing FSI ToolsThe customer service team must listen to customer conversations taking place in different markets. To do this, they have streamlined dashboards watching many channels. Hootsuite Teams allows them to collaborate on messaging and view inquiries’ progress. This set up also lets them redirect conversations to secure sites for liability reasons.

Results: A Secure and Compliant Social Media Presence BOK Financial is closer to their goal of sharing financial insights with their growing community. Given the security and compliance tools available, their team views social media as an opportunity, not a risk.

Analytics prove that community involvement posts are some of their most engaging content. It also helps them understand which of their markets are responsive to certain initiatives. Knowing this, they can tweak their social strategy to grow their audience.

“ Limited permissions and Global Relay allow me to scan outbound messages for compliance and best practices. Likewise, having those conversations archived is great for educating our employees. Together we can empower teams to be ambassadors” Janet Gunzenheiser, Social Media Strategist, BOK Financial