Social Networks-Utilisation in the Banking Sector

Internet technologies and applications have been developing very quickly, which also increases the possibility of using the Internet in the commercial sphere. Social networks currently belong to the most important prerequisites to the company success. This contribution aims to analyse the potential use of social networks in the Czech banking sector and to specify their current exploitation in this sector. In order to achieve this goal, the literature review and questionnaire were used. The literature review of texts and documents in the area of social networks was carried out in order to determine their benefits and utilization in the banking sector. The target audience of the questionnaire survey consisted of seventeen Czech banking institutions offering basic financial services. The results show an active use of social networks in the banking sector and that there is no direct correlation between success and the amount of invested financial resources. What matters much more is the quality of messages and news on social networks.