Abstract
The emergence of social media in financially high-risk institutions has had a negative impact on employees’ perceptions towards utilization of social media for team collaboration and communication. This study investigates social media impact in commercial banks and explores the contribution it has brought among teams, thus, ascertaining collaboration and effective communication within the banking industry. It adopted a quantitative research method whereby 194 questionnaires were distributed and 102 completed, thereby generating a response rate of 53%. The study findings revealed 60% of the research participants who agreed, 14% undecided, and 27% disagreed that social media present an opportunity for people to commit fraud and attracts hackers. This study will contribute to the body of knowledge in South Africa as there is a limited number of published studies on the impact of social media in financial institutions
Highlights
In this century of information technology, social media have increased challenges and opportunities in commercial banks in South Africa
This above-mentioned perspective indicates that use of social media in South Africa is for political information-sharing purposes, while the current study explored whether South African organizations adopt it for the same purpose or not
(2015) who found that only the high level individuals in South Africa are using Facebook to engage in discussions of a political nature and use platforms to connect to each other and share political information. It may be concluded in this article that the perceptions of bank employees concerning social media impact on their operations were negative
Summary
In this century of information technology, social media have increased challenges and opportunities in commercial banks in South Africa. This study intends to respond to the above perspectives presented by different authors through positing the deeper understanding of social media, and exploring the importance of social media in the financial institutions. The primary purpose of this study is to investigate the degree of impact made by social media in the commercial banks and contributions it embeds to teams’ collaboration, and communication. As there is a paucity of literature which was identified by this study and the limited evidence which clearly describe social media in the context of commercial banks, this study, in identification of that gap in the literature, will attempt and seek to conceptualize the use and utilization of social media in the financial institutions
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
