Purpose: The aim of this paper is to analyse the extent to which global financial institutions are using Web 2.0 technologies and social media initiatives to transform the way in which they perform their corporate disclosure, that is, if these entities are opening a real corporate dialogue.Design/methodology/approach: The web sites of 132 major global financial entities – in Europe (54 entities), the Asia‐Pacific region (55) and the Americas (23) – have been scored according to a Sophistication Index, considering various relevant Web 2.0 technologies and social media implementations. The analysis, by means of least squares and logistic regression models, is consistent across both techniques.Findings: Web 2.0 technologies and social media are not fully available in the corporate reporting arena. Nonetheless, a significant influence is detected. The size of each entity and the region in which it operates influence the scored utilisation of Web 2.0 and social media initiatives.Research limitation/implications: Web 2.0 tools and social media initiatives have been researched via corporate web sites. Corporate visibility in the major social networks, and also the use of advanced web metrics, will remain topics for further research.Practical implications: A lack of strategy for implementing an effective corporate dialogue is clearly observed. Based on these findings the banking industry and the supervisory authorities, which are under special scrutiny due to the recent global crisis, can take much greater advantage of the potential of social media to open a real corporate dialogue, increasing the level of transparency.Originality/value: As social media are becoming more useful and ubiquitous, both academics and practitioners need some initial and reliable background data on this preliminary situation. The extraordinary role of protagonist that the banking industry has played in the recent economic upheavals justify its selection as a first sample for this exploratory study.

Purpose – The objective of the present work is to analyse the web pages of the principal European financial entities, with the aim of assessing the degree to which they are already disseminating information by internet in preparation for implementing the new requirements for transparency introduced by the New Capital Agreement of the Bank of International Settlements of Basel (Basel II). Design/methodology/approach – The study takes as its reference the literature existing on the examination of the quality of web pages, in particular the provisions of the Web Quality Model (WQM), and the importance of the content as a key variable in the quality of web pages. The normative requirements are converted into a disclosure index that is used to score the corporate web sites of all the banks quoted on the EuroStoxx Index. A linear regression analysis is performed in search for a relationship between size and degree of web transparency in the financial entities analysed. Findings – The analysis of these entities shows that, to a certain degree, they have anticipated Basel II, and their web pages present a significant proportion of the information that will shortly be required. They seem to recognise the advantages of anticipating these new rules, in particular, and of greater transparency in general. Practical implications – The banking sector is responding efficiently to the requirements of the digital society, by greater transparency on the web and, in consequence, its image and the confidence of depositors are improving. Originality/value – Transparency in the banking sector is a topic of great interest in the current turbulent business environment. In these studies a systematised analysis is offered, to give a preview of the situation of generalised transparency that is coming closer through the requirements of Basel II.

Purpose: The objective of this study is to measure the navigation quality of the corporate webpages of the principal European financial entities, given the vital importance of the accessibility of online content for the successful execution of their operational activities.Design/methodology/approach: The web quality model proposes a structure that allows the quality of corporate webpages to be analysed according to the three main quality criteria of content, presentation and ease of navigation (navigability). Bonsón et al. take this theoretical framework as their point of departure for analysing the webpages of the principal European financial entities, and they measure the quality of their content in the context of the extra significance these webpages will acquire when the new Basel II international regulations enter into force in the imminent future. In this study, a joint analysis is made of the results of both studies in order to classify European financial entities according to the strategy adopted for their web sites.Findings: The size of the entity behind the corporate webpage is revealed as the key variable that explains better navigability. There is also a positive relationship between the navigability and the content presented, which shows that companies' strategies for improving the quality of their web site tend to be harmonised in respect of these two criteria.Practical implications: The approach of most of the entities to their web presence can be characterised as informational in the sense that they are making substantial efforts to improve the content, driven by impending new regulation. However, they are still not utilising various devices available to make their web sites easier to navigate. Better navigability would improve user access to the enhanced information provided.Originality/value: The resources have been determined that are needed to improve navigability so that these entities can advance their web site strategies and provide a harmonious combination of adequate content and fast, easy access to that content.

Purpose – The purpose of this paper is to analyse the capacity of response of the banking sector's information systems (IS), in the light of the new requirements of Basel II (Basel Bank for International Settlements) on the measurement and control of operational risk (OR). Design/methodology/approach – By means of a structured case, developed with a Spanish savings bank of medium size, an analysis is made of the practices and structures that may need to be modified to prevent a loss of competitive position. Lastly specific improvements are proposed to facilitate the implementation of an operational risk information system (OR-IS). Findings – The paper concludes that there still exists a considerable distance between the current IS in use and an OR-IS compatible with the model proposed under Basel II, for that kind of entities, and indicates the opportunities and incentives that would arise in the attempt to reduce this distance. Practical implications – The IS of a bank should evolve towards the achievement of an OR-IS that enables the bank's competitive position to be strengthened. In addition, the bank should aspire to obtain the external validation of its supervisory authority, which certifies the OR-IS implemented and classifies it as an advanced measurement approach (AMA) under Basel II. An analysis is made of the principal organisational weaknesses and necessities that should be rectified, with a view to applying the methodologies designated the AMA to OR in the Basel II agreement. Originality/value – Basel II has given increased visibility to the “OR” variable and there has been little explicit research into the process by which managers and organisations at medium sized entities decide to develop IS capable to measure and mitigate this new risk.