Bank buys trust by strapping exec to lie detector on Facebook
Singapore's OCBC really wants you to trust them.
Big-shot bank executives. They're almost always portrayed as the bad guys, but are they just misunderstood?
Oversea-Chinese Banking Corporation (OCBC), wants the public to believe in it, so Dennis Tan, the company's head of consumer financial services in Singapore, agreed to be Facebook livestreamed taking a lie detector test.
"Stay True is our promise to our consumers," Tan said of OCBC's newest campaign, "we want to be transparent, clear and truthful in our advertising communication. This is not a marketing campaign, this is something we believe in strongly."
Is this PR spin? Probably, but hey, the lie detector bought it.
OCBC is right to try and win trust: A 2012 study by Edelman showed that 47 percent of the public had trust in banks, making it the second-least trusted industry, behind only its brother, the "financial service" industry.
The bank becomes the latest big business to utilise Facebook streaming, which looks to become big business soon. Major League Soccer will soon show on Facebook, with Major League Baseball and the National Football League potentially following suit.