Davies, who was speaking at a Social Media Week panel discussion chaired by Connect Group on "banking’s social year", said he hoped this year would be a turning point when it comes to social media and banking.
He said: "In some ways we are still in 2009, but I do think 2013 internally has seen a lot of work, so hopefully the back end of 2013 truly will be a social year.
"Regulation and compliance makes talking to people on the internet difficult and social media is about talking to people on the internet, just with a nice....