What this indicates is that financial brands need to start investing more time and effort into the social space. No longer can a brand afford to simple monitor conversation. It’s time that brands begin to show tangible results in addressing customer issues, managing brand reputation and spreading its mission statement. This article is a loud shout to executives that think it’s too much work, doesn’t provide results, or any other excuse they’re making for not getting into social.

Thus far, most of the action online has come from smaller banks and credit unions, so it’s a nice change of pace to see a large brand like Bank of America to step up. This move speaks volumes to other financial institutions who are either hesitant or question the value of investing in the social space in areas other than monitoring conversations and brand reputation.