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June 18, 2021

The digital battle banks in Vietnam need to win

This report aims provides insight into the Banking Industry in Vietnam. We look into people’s preferences into their customer experience; using either traditional or digital banks, we deep dive into the topics driving social conversations about the banking industry, and the top mentioned brands related to the banking industry in Vietnam.

We have explored the latest trends and unpacked the current situation faced by the digital banking industry in Vietnam.

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An analysis of the finance industry post-GameStop

There’s no doubt the GameStop saga caused quite a stir within the finance industry and beyond. From a communications perspective, I’d like to reflect on the reputation of the finance industry and what’s changed as a result of the incident. I’d also like to explore the sentiment towards different financial institutions.

It’s important to delineate between investment banks, hedge funds (including HFTs and other obscure finance organisations) and commercial banks. For all the flak that commercial banks get, on the whole, individual banks are pretty good at communicating with consumers, maintaining their reputation and avoiding healthy skepticism turning into outright criticism. 

The sentiment around GameStop

Both professionally and personally I am compelled to regularly read the comments under breaking news articles shared on social media, and no matter what the cause or issues, I cannot recall a single story’s response being so absolutely one-sided.

When Isentia did an analysis of social media conversation relating to the GameStop saga, it found 88% of comments expressed an opinion about the topic supported the insurgent Wall Street Bets group. Approximately 50% of comments expressed a clear statement that hedge funds were losing at their own game and deserved no sympathy. The positively gleeful schadenfreude at the losses sustained by the hedge funds unified groups that in any other contexts would be building strawmen to attack each other in a never-ending battle of replies. Commenters in support of Wall St Bets floated conspiracy theories of the Democratic Party’s and Joe Biden’s personal involvement, while others called for the beginning of a socialist revolution. Robinhood closing positions and restricting trading in GME united such disparate voices as Alexandria Ocasio-Cortez, Ted Cruz and Donald Trump Jr., a potential dinner party for the ages that was cut short by AOC reminding Cruz of his role in the January 6th Capitol storming.

This reaction shouldn’t be surprising to anyone. Recent real-life examples, like the GFC have built up doubt in financial institutions like hedge funds and investment banks, and cultural representations of these organisations tend to be negative.

Opinions of Wall Street

Looking at Hollywood films about investment bankers and hedge funds, we see a list of negative depictions; The Big Short, Wall Street: Greed is Good, Wolf of Wall Street, Margin Call and American Psycho. Indeed, it’s hard to find a positive depiction of Wall Street and high finance with the possible exception of the Pursuit of Happyness. 

Opinions of ‘Wall Street’ in the 2017 US YouGov survey, found that 77% of people believed that “most people on Wall Street would be willing to harm consumers if they believed they could make a lot of money and get away with it”, 72% believed Wall St financiers were more greedy and selfish than regular people. By contrast, in 2018, only 66% of 18-24 year olds and 76% of 25-34 year olds said they have always believed the earth was round. Put another way, you would possibly have more success on social media, arguing for a theory of a flat earth, than you would for the idea that there are ethics on Wall Street. 

But none of this is new, those surveys are years old, people still talk about the open wounds of the GFC in 2008 and American Psycho was released in 2000. It may have ebbed and flowed at times, but movements like Occupy Wall Street didn’t feel like a response a single moment, but looked to address long-standing grievances. People have long been cynical about hedge funds and investment banks, and it doesn’t appear much has been done by the industry to improve the situation. Thought pieces on public relations and branding express exasperation with the financial services sector, generally acknowledging early in the text; ‘we know you don’t like it but here’s why you need it’, much like a dentist explaining flossing. 

And who could blame hedge funds and investment banks for being ignorant in the modern world of communications? They are non-consumer facing businesses. They don’t have issues like other non-consumer-facing businesses (mining companies) that regularly seek community and environmental project approvals and face a highly organised and powerful climate change movement. They also don’t have an easy story to tell. The mining sector’s blue-collar jobs and regional economies have a more convincing message than providing liquidity to financial markets and diversifying risk.

The power of social media conversation

So if the reputation hasn’t changed why would we suddenly talk about it from a communications perspective? Because the consequences have changed. The power of social media conversation and accessible trading platforms has meant that suddenly the poor reputation of these firms not only makes them a target for activist financial consequences, but also an entirely unsympathetic one (again, 88% of commenters on social media supported the actions of Wall Street Bets, and celebrated hedge fund losses). The question of regulating future market distortions such as GameStop is made politically complicated by this sentiment.

The other thing that’s changed; the messaging is clearer. People often distrusted Wall Street, but the usual attacks of income inequality and regulation tend to be murky and complicated. The frequent usage of the word democratisation is probably the most interesting development in the entire GameStop saga from a communication perspective.

What about regulation?

Anyone who has studied or read about behavioural economics and knows about experiments in the Dictator Game will readily understand there is an innate drive towards fairness in our dealings with others, and perceptions of unfairness encourage us to punish the perpetrators, even if it’s to our own detriment. Thus, generating a clear narrative of unfairness is a powerful tool to generate support for a cause. The traditional attacks of income inequality are often the flagship of anti-Wall Street or anti-finance messaging and are often blurred enough to create a reasonable level of debate. Even if everyone agrees that regulation isn’t working, surveys in the US show deep divides between whether people believe the problem is about not enough regulation, not adequate enforcement of existing regulation, or if it’s the wrong type of regulation. This disagreement makes it difficult to build a clear policy of reform.

Democratisation, however, feels like it is a more powerful and clearer message. Propelled into the limelight most clearly by the actions of Robinhood, it asks a question of fairness that is far harder to obscure or dispute. We can argue whether or not the game is rigged, but no one can deny it’s unfair if you’re not allowed to play.

What’s next for investment banks and hedge funds?

As a communications professional I am interested in the development of the narrative of democratisation and accessibility, and how those who support regulation in the post-GameStop era find ways to attack this sentiment. I am also interested to see how investment banks and hedge funds respond. They’re clearly starting with a difficult story to tell. While none of this has been a problem before, they now need to find a way to communicate with the wider public, particularly young people. They also need to shift a narrative that has existed for decades if not longer. In this partisan era one might avoid consequences from the antipathy of either progressives or conservatives, but the concentrated and focused antipathy of both, united by a simple and powerful message, is something to be concerned about.

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Blog
How social media conversation influences the market

There’s no doubt the GameStop saga caused quite a stir within the finance industry and beyond. From a communications perspective, I’d like to reflect on the reputation of the finance industry and what’s changed as a result of the incident. I’d also like to explore the sentiment towards different financial institutions.

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While renewables like wind and solar are often framed as the future of energy, the renewables market faces many challenges in seeing that journey through, especially regarding Australia’s Paris climate agreements. The path to a clean energy future in Australia is fraught with disruptions and distractions, as media reports, and exploring the factors shaping media coverage of energy alternatives and clean energy reveal a shifting understanding of renewable energy sources.

Peak media coverage of renewables centres on government actions seen as hindering clean energy progress. Stories like keeping Eraring operational, nuclear energy debates, and delays in environmental law reforms highlight a perception of indecision on ecological issues. While traditional media spikes around policy updates, social media discussions are steadily growing, reflecting increasing public engagement with Australia’s renewable energy transition. Analysing these trends reveals how media narratives shape and respond to audience perceptions in this evolving debate.

Renewable energy is widely hailed as a cleaner, cheaper, and more stable alternative to fossil fuels, but media and social discussions paint a more complex picture. Concerns about affordability and feasibility are growing, driven by economic shifts, supply chain issues, and the lingering effects of the 2022 energy crisis, which media attribute to cold snaps and the Russia-Ukraine conflict, all while Australia remains heavily reliant on coal and gas exports.

Topics like grid overload, the need for better battery subsidies, and the failure of taxpayer-funded rebates to support solar businesses dominate conversations. Meanwhile, wind farms face local opposition due to environmental and land use impacts, and debates over nuclear energy disrupt investment in solar and wind, further complicating Australia’s clean energy strategy.

Nuclear energy’s potential introduction into Australia’s future energy mix has further unsettled renewables investors, with media highlighting concerns over its impact on wind and solar investments. For more context listen to our podcast interview with Pablos Holman, General Partner at Deep Future. Wind energy faces criticism for using taxpayer funds to benefit private companies, while hydrogen’s future is uncertain following high-profile project withdrawals by Fortescue and Origin. The media’s portrayal of these issues underscores ongoing public and industry doubts about Australia’s renewable transition and the role of nuclear in the energy debate.

Watch below the shifts in coverage of significant policies and strategies over time to understand why some strategies stay in the headlines while others peter out.

The Labor government’s flagship Future Made in Australia Bill is central to its energy vision and, in November, was passed to support a net-zero transition. The May budget highlighted turning Australia into a renewable energy superpower with dedicated funds for solar, battery, and hydrogen projects. However, the opposition has framed hydrogen and critical minerals tax breaks as "corporate welfare". Over time, it looks like Labor’s Future Made in Australia Bill is at a tug of war for media attention against the opposition’s nuclear strategy. Australia’s energy future, however, is not wholly detached from fossil fuels. Labor's Future Gas Strategy positions gas as a necessary transition fuel while being central to Australia’s energy and export sectors.

https://twitter.com/Lightni12092685/status/1808315618787316166
https://twitter.com/johnpm57041235/status/1789488561751998975
https://twitter.com/GreenJ/status/1804658604441809155

Climate activists criticise the Future Gas Strategy for extending Australia's reliance on fossil fuels. Media critics call it another "broken promise" by the Albanese government, highlighting mismanagement that has negatively affected energy supply and costs. Though the "Future Made in Australia" narrative around energy security resonates with many, the government’s conflicting strategies raise questions about long-term benefits and who truly gains from its policies.

Australia's shift to clean energy faces complex debates and conflicting government signals, from promoting renewables to considering nuclear power. Despite loud voices in the media advocating for taxpayers and businesses, deeper media analysis reveals multiple layers and motives behind their arguments.

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Blog
Insights into media and public perceptions towards Australia’s clean energy future

While renewables like wind and solar are often framed as the future of energy, the renewables market faces many challenges in seeing that journey through, especially regarding Australia’s Paris climate agreements. The path to a clean energy future in Australia is fraught with disruptions and distractions, as media reports, and exploring the factors shaping media […]

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The Australian podcasting news industry continues to grow. While Australian audiences do consume content from international brands like the BBC, they also exhibit strong affinity for independent Australian productions over mainstream sources. In a period of uncertainty amidst Apple’s recent update to automatic download policies Australia’s podcast audience has rapidly expanded, with ad revenue rising from $5 million in 2017 to over $100 million in 2024. So how do podcasts fit into the Australian news cycle? As audiences direct attention to independent and international productions, audience targeting, partnerships and media monitoring trends indicate a shift and a need to adapt engagement metrics and messaging strategy.

To highlight the impact of podcasts on audience engagement, we tracked coverage of key news themes in Australian podcasting from January 2020 to November 2024.

Podcasts surged into the mainstream during the pandemic, and they’re now evolving by integrating with platforms like video and audiobooks to meet new audience expectations. 

While general podcast news discussion remains steady, discussion on news podcasts indicates listener engagement peaks around high-impact stories, suggesting that the topic and information itself is what truly resonates with audiences. Outlets like The Australian Financial Review and ABC have expanded into the format, yet even major programs like ABC’s Background Briefing face fluctuating engagement compared to discussion about news content being consumed through podcasts. The data suggests there’s a gap being left by main outlets in the podcasting space. While traditional media adapts, independent producers are gaining traction with stories that deeply resonate on identity and community issues, such as the 2021 Christian Porter case and The Briefing’s 2024 episode on pianist Jayson Gillham’s lawsuit against the Melbourne Symphony Orchestra. Understanding audience preferences and monitoring content trends helps communicators craft strategies that leverage podcasting’s unique appeal.

https://twitter.com/Emilie_Dye/status/1833416097871089706

Podcasts offer creators the freedom to pursue stories with fewer constraints of advertisers, investors, or other stakeholders, leading to content deeply shaped by personal passion and a strong connection to the subject. This independence empowers impactful storytelling, as illustrated by The Teacher’s Pet, where Hedley Thomas’s rigorous reporting on the case of Lynette Dawson uncovered new, critical details and underscored the journalistic integrity driving audience engagement in a shared pursuit of truth. Similarly, New Politics, co-created by Eddy Jokovich, leverages its Patreon-funded model to explore perspectives outside mainstream narratives, showcasing the power of independent journalism through podcasting.

https://twitter.com/lisapodcasts/status/1564484950984130565
https://twitter.com/EddyJokovich/status/1632314733524303872

Sports and entertainment tend to generate high visibility and engagement, suggesting they benefit from a faster publishing cadence and broad appeal. However issues like global conflicts draw significant attention, especially among communities directly impacted. The Briefing podcast, for example, addressed the October 2024 conflict in Gaza in a recent episode where Lebanese-Australian journalist Liz Deep-Jones offered a personal perspective. This type of coverage shows how podcasts can provide both journalistic depth and emotional resonance, connecting listeners to complex stories in a more relatable way.

Even if a major broadcaster or outlet owns a podcast production, the unique style and tone set by the hosts and production team often place podcasts outside the conventional PR and communications scope. Unlike the carefully curated talking points found in a typical puff piece or advertorial, podcasts allow for candid, in-depth discussions that explore complex topics with a degree of freedom seldom found in traditional news media channels. This authenticity is driven by the podcast format itself, which favours nuanced discussion offering audiences a more transparent and less scripted narrative style.

The NRL is launching in Las Vegas. Can it win over the US?

Israel, Lebanon & The Big Ceasefire Question

The Details You Missed From The Attempted Assassination of Donald Trump

Many of the leading news podcasts, like The Quicky by Mamamia, follow a daily release that taps into the rhythm of the 24-hour news cycle, providing timely responses to breaking news. This format appeals to listeners by delivering news in a quick, digestible style, ideal for staying informed on the go and catering to audiences prioritising both convenience and relevance. It’s no surprise, then, that top news highlight podcasts often incorporate ads at multiple points—before, during, and after episodes—capitalising on the high listener engagement these accessible, on-the-go updates create.

Sports and entertainment podcasts tend to attract higher engagement with frequent, easily digestible episodes, often in the preferred 20-30 minute range, which sustain a steady listener base. Personalities like Hamish and Andy, and John Graham exemplify how audience visibility can be driven more by engaging personalities than by traditional news analysis. In contrast, outlets like The Australian Financial Review maintain a more analytical focus with podcasts such as The Fin and Chanticleer, known for their conservative, business-centric tone. Meanwhile, digital-first brands like Mamamia take a more hybrid, accessible approach across varied topics, leveraging podcasting to reach broader audiences and foster engagement with impactful news stories. This range of formats illustrates how different brands tailor their podcast strategies to meet audience preferences, from rapid updates in entertainment to in-depth discussions on current events.

While legacy media outlets leverage their reputations to enhance their podcast presence, credibility alone doesn’t ensure engagement. Instead, PR and communications teams can boost audience connection by aligning content with listeners’ interests and authenticity, helping refine podcasting strategies to capture attention and drive meaningful engagement.

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Blog
How Australian podcasts fit into the news cycle & ignite cultural moments

The Australian podcasting news industry continues to grow. While Australian audiences do consume content from international brands like the BBC, they also exhibit strong affinity for independent Australian productions over mainstream sources. In a period of uncertainty amidst Apple’s recent update to automatic download policies Australia’s podcast audience has rapidly expanded, with ad revenue rising […]

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It’s become a truism to state that local journalism is in decline. But that story has been complicated by a new form of socially conscious ‘start-up’ publication cropping up across both ANZ and the wider world. 

Consumers of local journalism are turning to independent sources, such as CityHub and Westender, that focus on community-driven stories, accountability, and underrepresented voices. This shift is compounded by the decline of traditional outlets, as highlighted in recent articles discussing the closure of regional papers due to rising costs, Meta's withdrawal of funding, and shrinking government ad budgets. These pressures reinforce the need for meaningful engagement with local journalism, as audiences demand authenticity and transparency in coverage of issues like housing, civil rights, and activism. By examining these independent outlets, we gain insights into how independent journalism continues to shape public discourse and meet the expectations of news consumers today.

Over time, the ANZ media has itself been writing increasingly about local journalism. Some of this laments its decline; elsewhere, it’s cited in national stories as a story source. But over time, we also see some of that attention focusing on publications such as The Westender and Cityside. 

The Westender’s content and engagement reveals that local journalism consumption in Brisbane is significantly influenced by timely and relevant political topics, and pressing community issues such as the housing crisis. 

Engagement patterns suggest that timely advocacy and local relevance are key draws for the publication, highlighting a community eager for information that resonates with their values and interests. 

https://twitter.com/Born_In_54/status/1805460167880065075
https://twitter.com/JanB_QLD/status/1758987841701621957

Over in Sydney, meanwhile, CityHub  amplifies underrepresented voices and promotes accountability by covering issues such as military bases ("We Need to Talk About Pine Gap"), NSW’s anti-protest laws, and housing policies. It offers alternative perspectives that challenge mainstream narratives, fostering civic engagement and activism. With audiences engaging on platforms like X and Reddit, local outlets build credibility through community-driven stories and partnerships with organisations like Australians For War Powers Reform.

This pattern suggests that certain topics resonate more deeply with the audience than others. Stories that receive particular attention advocate for diversity and anti-racism, and frequently call out local councils for failing to act on commitments, such as anti-racism strategies. 
CityHub highlights the views of prominent local figures and groups, like Greens councillor Dylan Griffiths, who pushed for Inner West Council's ceasefire call in Gaza, and the Arab Council for Australia, whose frustration led to the mass resignation of the Multicultural Advisory Committee. This type of reporting offers a platform for communities seeking to impact policy—something often underrepresented in mainstream media coverage unless it’s taking place on national scale.

https://twitter.com/iamthenas/status/1727527112004047137
https://twitter.com/derridalicious/status/1780132840098951532
https://twitter.com/Wendy_Bacon/status/1827873654191067398

The active sharing of CityHub content on platforms like X and Reddit highlights community engagement around social issues.

CityHub’s audience is most likely to engage with political themes, followed by culture and crime, often focusing on issues that directly impact their lives, values, and beliefs. 

Advocacy campaigns, such as the Fossil Ad Ban's billboard initiative, not only spotlight important issues but also critique political figures like Anthony Albanese based on their responsiveness to these values. Cultural expressions, such as protests and street performances, carry political significance, while initiatives like the Sydney Olympic Park development reflect community values towards topics like urban planning. 

Clearly, CityHub and publications like it are fulfilling a need that has been unfulfilled amongst the community - but what influential figures help disseminate these stories amongst willing audiences?

It’s no surprise that advocacy groups are actively sharing and disseminating calls to action. Content creators, particularly those writing for CityHub, effectively communicate the stories they cover, resulting in increased engagement for the local outlet. The reach and influence of these reporters often surpass that of CityHub itself. Additionally, credible community figures, such as university lecturers, further enhance the publication’s coverage. 

CityHub and The Westender illustrate the critical role of independent local journalism in shaping public dialogue and accountability. This active participation reflects a community eager for accountability and willing to challenge local authorities on issues like systemic inequalities and inadequate policies. The preference for independent sources indicates growing scepticism towards mainstream media and a trust in alternative narratives that align with their beliefs. 

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Blog
How a new type of local journalism is engaging ANZ audiences 

It’s become a truism to state that local journalism is in decline. But that story has been complicated by a new form of socially conscious ‘start-up’ publication cropping up across both ANZ and the wider world.  Consumers of local journalism are turning to independent sources, such as CityHub and Westender, that focus on community-driven stories, […]

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