Social media are the means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks. Banks should leverage social media as a two-way communications vehicle for both listening to the audience and gaining insights, with the goal of providing customers with targeted and differentiating solutions that solve their financial needs. Communication with customers through social networks is of great importance for the bank, and that kind of communication is paid more and more attention, especially in today's economic conditions, when competition in the banking market is rough, and when banks are struggling to get trust and attention from every client. The objects of the research is the presence of banks within the banking sector in Serbia, on social networks in Serbia. The problem that is discussed in this paper is how the presence-absence of banks on social networks influences the modern banking business. It is expected that the results of the research indicate the presence of a joint impact on the social networks and successful modern banking business, and the impact of social networks on the positioning of banks in the market.

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