# Social Media-Based Banking Fidor Bank Sets Its Interest Rates Based On Facebook Likes By Charlotte Joyce Kidd | Published 2015-09-21 | Business Source: Trend Hunter, https://www.trendhunter.com/trends/fidor-bank References: [businessinsider](http://www.businessinsider.com/fidor-links-interest-rates-to-facebook-2015-9?utm_source=feedly&utm_medium=webfeeds) & [fidorbank.uk](https://www.fidorbank.uk/) Fidor Bank is a totally unconventional digital banking service. The German-based bank has no branches, choosing to exist only in the digital sphere. Fidor Bank acts like a sharing economy app more than it does a traditional bank. Rather than writing its own loans, Fidor facilitates lending and borrowing in every format, from peer-to-peer lending to foreign exchange brokerage. Fidor Bank customers can store their funds with the online banking service as they would a traditional bank. But even this feature has a totally unusual twist -- the interest rate of Fidor Bank's savings account is based on the number of likes on the banking app's [Facebook](https://www.trendhunter.com/trends/social-media-tipping-features) page. The rate is currently set at 0.25%, but it will increase by 0.05% for every 2,000 Facebook likes Fidor Bank receives. ## Trend Insights (Trend Hunter) - Score: 3.2/10 - Popularity: 31% | Activity: 56% | Freshness: 8% - Audience gender: 50% men, 50% women - Primary generations: Millennial - Top markets: North America, Europe, Asia ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Business](https://www.trendhunter.com/business) > [New Ventures](https://www.trendhunter.com/newventures) ## Key Themes ### What's Driving This Trend - **Digital Banking:** Disruptive innovation opportunity: Explore new ways to provide banking services predominantly through digital platforms, eliminating the need for physical branches. - **Sharing Economy Banking:** Disruptive innovation opportunity: Develop a banking model that facilitates lending and borrowing in various formats, such as peer-to-peer lending and foreign exchange brokerage. - **Social Media-based Banking:** Disruptive innovation opportunity: Integrate social media engagement metrics to determine interest rates or other financial incentives, leveraging the power of social networks. ### Who This Affects Most - **Online Banking:** Disruptive innovation opportunity: Create digital banking services that cater to customers' needs without the requirement of physical branches. - **Fintech:** Disruptive innovation opportunity: Explore innovative technologies and platforms to revolutionize traditional banking operations and customer experiences. - **Social Media Marketing:** Disruptive innovation opportunity: Develop strategies to leverage social media engagement and analytics for offering personalized financial products and services. ## Related on Trend Hunter - [Web3-Focused Digital Banks](https://www.trendhunter.com/trends/cogni.md) - [Auto-Savings Digital Bank Features](https://www.trendhunter.com/trends/superbank.md) - [Neobank Metaverse Outposts](https://www.trendhunter.com/trends/quontic-bank.md) - [Millennial Nostalgia Banking Campaigns](https://www.trendhunter.com/trends/allt-bank.md) - [Scientific Research-Supporting Banks](https://www.trendhunter.com/trends/science-bnk.md) - [Fintech Savings Centers](https://www.trendhunter.com/trends/savings-center.md) - [Simplicity-Focused Mobile Banking Apps](https://www.trendhunter.com/trends/mobile-banking-apps.md) - [International Professional Neobanks](https://www.trendhunter.com/trends/zolve.md) - [Feel-Good Financial Campaigns](https://www.trendhunter.com/trends/banksgiving.md)