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Hearsay Social and Efma Partner to Bring Social Business Best Practices to Financial Firms in Europe

March 18, 2014 — Amsterdam, NL — Hearsay Social, provider of the leading social business platform for the financial services industry, and Efma, an association whose membership includes nearly one-third of the world’s large retail banks, today announced at the Efma Distribution Summit a strategic partnership to bring social business best practices to financial firms in Europe. Hearsay Social is the first social media partner to join Efma.

Through this new partnership, Efma and Hearsay Social will work closely together to empower and educate the more than 3,300 retail financial services companies that comprise Efma’s network in Europe. Hearsay Social will regularly participate at Efma events while also developing training and education materials for Efma member firms to become better practitioners of social business.

Additionally, Efma and Hearsay Social have the following activities planned:

  • Efma and Hearsay Social will launch a “think tank” consisting of three webinars focused on essential social business topics, including “Social Marketing” and “Social Compliance.” These webinars will help educate the various business line managers at Efma member firms, including heads of distribution, marketing and risk, on the opportunities presented by social business.
  • The two organizations will also work together to create content, including interviews and case studies, informing member firms how financial firms are using social media today to grow business.
  • Hearsay Social will host Efma and select member firms in San Francisco for an innovation study tour presenting how retail financial firms are applying technology from Silicon Valley.

“Many of our member firms now understand the power of social media for connecting with and providing better service to clients,” said Patrick Desmarès, CEO of Efma. “Through this new alliance with Hearsay Social, we’re excited to deliver more education, research, and advocacy around social business and compliance solutions for the financial services industry.”

“Social business best practices are transforming the financial services industry, giving advisors a more efficient and effective way to communicate with clients,” said Hearsay Social CEO Clara Shih. “By partnering with Efma, we’ll be able to empower member firms with the education and innovation necessary to grow business on social media.”

Hearsay Social is the leader in social business for the financial services industry, helping advisors efficiently and successfully use social media to attract prospects, retain customers, deepen relationships, and grow business. The company partners closely with financial services organizations, providing them a combination of innovative technology, proven methodologies, and strategic alliances to deliver rapid social business success.

Read more about today’s announcement and follow coverage of the Efma Distribution Summit on Hearsay Social’s blog.

About Efma

As a global not-for-profit organisation, Efma brings together more than 3,300 retail financial services companies from over 130 countries. With a membership base consisting of almost a third of all large retail banks worldwide, Efma has proven to be a valuable resource for the global industry, offering members exclusive access to a multitude of resources, databases, studies, articles, news feeds and publications. Efma also provides numerous networking opportunities through working groups, online communities and international meetings. For more information: or

About Hearsay Social

Hearsay Social empowers global financial services teams to efficiently and successfully use social media to attract prospects, retain customers, and grow business. The enterprise-ready solution helps agents and advisors quickly and easily move beyond yesterday’s relationship building tactics and to get found and strengthen relationships with social media. Tens of thousands of financial services professionals worldwide use Hearsay Social every day to hear and respond to everything their customers and prospects are saying on top social networks, including Facebook, LinkedIn, Twitter, and Google+. The Hearsay Social platform boosts advisor and agent productivity while enabling brand integrity and compliance for even the most regulated industries.

Hearsay Social, a LIMRA Elite Strategic partner and SIFMA strategic partner, has raised $51M from Sequoia Capital, NEA, and top executives from Facebook, Twitter, and Google, and is headquartered in Silicon Valley with dedicated local presences in New York, Chicago, Atlanta, Austin, Toronto, and London.

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