Banks adopts social networking channels for file sharing

US Bank takes on IBM Lotus Web 2.0 to open up communication channels

U.S. Bank is embarking on a growth strategy with the assistance of IBM Lotus Web 2.0 collaboration technology to work more efficiently.

As part of this initiative, U.S. Bank has begun a rollout of Lotus collaboration software, led by Lotus Quickr, a file-sharing repository with social networking capabilities that allows employees to find and share insight through a variety of communication channels, including emails, instant messages, blogs, and wikis. When the installation is complete in 2010, Quickr will help U.S. Bank’s 58,000 employees more easily find and share intelligence.

Prior to the rollout of Lotus Web 2.0 collaboration technology, U.S. Bank had consolidated users on legacy platforms through a number of acquisitions over the years. It was using an older version of IBM Lotus Notes and Domino, and more than 5,000 siloed Microsoft Sharepoint sites. The bank was looking to transform the way it does business both internally and with its customers to reflect their increasingly Web-oriented lives.

“Our industry has undergone unprecedented changes over the last year, and that serves as great example of why it’s so important for U.S. Bank’s employees to be able to use technology to communicate and collaborate efficiently,” said Mark Dickelman, senior vice president, innovation, research and development for U.S. Bank. “Keeping up with economic developments and policy changes and the need to quickly communicate while innovating for growth would be nearly impossible with traditional methods, and that’s why Lotus collaboration software will continue to be incredibly useful to us, especially as we continue to solidify our company’s position as a leader in the financial services industry.”

“Employees have an expectation to use advanced social tools based on what they’re able to do on the Web today,” said Bob Picciano, general manager of IBM Lotus Software. “It’s a Web 2.0 world with personal and business lives merging together around the same tools and devices. But it’s a challenge for banks as they deal with compliance policies and safeguarding the privacy, security and confidentiality of their customers. Leaders like U.S. Bank are transforming with discipline through breakthrough technologies like Lotus Quickr and Lotus Connections.”