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SOCIAL MEDIA NEWS: Facebook fails to make an impression on the financial sector

The finance sector prefers Twitter over Facebook as a means of social media interaction according to research conducted by marketing and PR company Cognito.

Fifty financial software companies in financial services were questioned on their use of social media. Twitter came out on top and is being used by over 40 per cent of those asked.

Only 20 per cent of businesses have a company blog, even less -10 per cent - use Facebook. Although over 40 percent use video tools on their website, only 20 per cent are using YouTube channels.

The research is designed to reveal what leading firms in the sector are doing. Tom Coombes, CEO, Cognito says, "This research is designed to give people an indication of what the leading firms in the sector are doing to help others implement the right programmes and procedures."