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Financial institutions have found that if they want to reach the next generation of investors, shoppers and money-makers, they should respect the power and influence of social video. The latest company to put this idea into practice is BMO. The Montreal-based bank has partnered with an advertising agency FCB Canada a start Pull out channel called BMO Next Lvlwhich publishes financial guides for creators and features guest appearances from some of Canada’s top streamers.
A press release describes Nxt Lvl as “the world’s first financial twitch channel.” Moderate during weekly streams Sean Frame will be speaking on topics such as monetization, investing, home ownership and personal finance while playing games alongside notable developers. The first of these programs continues live May 13th. Guests scheduled to appear on Nxt Lvl include, among others Brave star wardell and Genshin Impact Stromer Mtashed.
BMO selected Frame from 50 internal candidates to host Nxt Lvl. As the bank’s Gaming Relations Specialist, Frame will seek to bridge the gap between finance and fun. “It was clear to all of us that we were looking for a unicorn: a player, a banker and a charismatic host rolled into one,” FCB executive creative director Andrew MacPhee said in a statement. “It turns out there are unicorns, they play video games, and their name is Sean Frame.”
By choosing Frame as their in-house Twitch personality, BMO hopes to combine professional seriousness with the silliness of the internet age. It’s a balance that all financial institutions must strike if they hope to gain followers on social video platforms.
For example, on TikTok, banks and investment firms have taken several different approaches. Is it better to give advice that is as serious as possible, even if it comes across as a bit dry? That’s the attitude of the VC firm BlackRock, which arrived on TikTok earlier this year. On the other hand, some professional financiers use memes to connect with the next generation of investors. Turner Novak from Banana Capital tendencies in that direction. Then there are companies like loyalty that land somewhere in between.
@turnernovak this is my side hustle man passive income only #venturecapital #AUMgang ♬ Original sound – Hailey Bieber
The bottom line is that whatever strategy a financial company pursues, it will struggle to match the appeal and star power of top “FinTok” creators Erika Kullberg. The accounts I mentioned in the previous paragraph each have a few thousand followers; Kullberg, bolstered by her willingness to read the fine print on behalf of her fan base, has 8.4 million followers.
BMO now has an opportunity to determine when its novel approach to banking-related content can attract a captivating audience. If you want to be part of this crowd, check out Nxl Level ab 7 p.m. ET on May 13th.