Banks and credit unions ‘threading away:’ What early adopters think so far
Never before has a social media app collected so many users so quickly. Threads users are mostly influencers like MrBeast and Kim Kardashian — but the banking industry is well represented, with both traditional and digital players checking the platform out. Banks, credit unions and fintechs that are active lean toward offering financial advice and engaging consumers with questions. Many also show a sense of humor, sharing jokes and memes and leaving fun comments in response to posts from other accounts.
ChatGPT picked up 100 million users within two months of its November launch, a feat that drew comparisons to TikTok.
TokTok, a social media app for sharing short videos, had taken nine months to acquire that many users.
But Threads skyrocketed to that level in just five days, making it the new recordholder for the fastest-growing app in history. The new Twitter competitor is from Meta, the parent company of Facebook, Instagram and WhatsApp.
Many banks and credit unions are among those who joined Threads in the first two weeks. Megabanks like Bank of America and Citibank and regionals like KeyBank, PNC, Regions, Truist and U.S. Bank are all on the platform, though they have yet to start posting.
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