Banks seek to engage online customers with social media

Banks increasingly are using social channels to engage with customers and build uptake for their online-banking services. JPMorgan Chase is running a social sweepstakes promotion for users who "like" the Facebook page of its Chase Freedom card, and American Express, Capital One and Bank of America also have sought to capitalize on their customers' love of social networking. "Our reach is much broader because of sharing. They read Facebook like it's a nicotine addiction," Chase executive Matt Kane says