Financial institutions have realized that if they want to reach the next generation of investors, buyers, and money-makers, they must respect the power and influence of social video. The latest company to put this idea into action is BMO. The Montreal bank partners with an advertising agency CBF Canada launch a Tic called channel BMO Nxt Lvlwhich will provide financial advice to creators and feature guest appearances from some of Canada’s top broadcasters.
A press release describes Nxt Lvl as “the world’s first financial Twitch channel”. During weekly broadcasts, host Sean’s frame will talk about topics like monetization, investing, home ownership, and personal finance as he plays games alongside notable creators. The first of these shows is broadcast live on May 13. Guests who should appear on Nxt Lvl include Valorant star wardell and Genshin Impact streamer Mtashed.
BMO selected Frame to host Nxt Lvl from 50 internal applicants. As the bank’s gambling relationship specialist, Frame will seek to bridge the gap between finance and fun. “We all understood that we were looking for a unicorn: a charismatic player, banker and host all rolled into one,” FCB executive creative director Andrew MacPhee said in a statement. “Turns out unicorns do exist, they play video games, and their name is Sean Frame.”
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By choosing Frame as Twitch’s internal personality, BMO hopes to combine professional gravitas with internet-age silliness. It’s a balance that all financial institutions must strike if they hope to gain followers on social video platforms.
On TikTok, for example, banks and investment firms have used several different approaches. Is it better to give the most sincere advice possible, even if it is a little dry? This is the attitude used by the venture capital company black rock, which arrived on TikTok earlier this year. On the other hand, some professional financiers are using memes to connect with the next generation of investors. Turner Novak of Banana capital trends more in that direction. Then there are companies like loyalty this land somewhere in between.
@turnernovak this is my hustle man side, just passive income #venturecapital #AUMgang ♬ original sound – Hailey Bieber
The bottom line is that no matter what strategy a financial firm employs, it will struggle to match the allure and power of top ‘FinTok’ creators like 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 the chance to determine when its new approach to banking-related content can attract a captive audience. If you want to be part of this crowd, check out Nxl Level from 7 p.m. ET May 13.