Modern Banking and Financial Training, And the Strategic Importance of eLearning

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Banner showcasing the strategic Importance of eLearning for Modern Banking and Financial Training Solutions in Compliance, Technology, and Customer Service
In the fast-moving world of banking and finance, it is not just a case of being first but also a race to be in step. A well-trained workforce in this context is therefore not just a material asset but a strategic advantage, as increasingly expanding regulatory needs go hand in hand with the rapid use of technology. For instance, according to a recent report by the Financial Times, financial institutions with enterprise-wide training programs reported 30 percent fewer compliance breaches than those with less comprehensive training programs. This very fact underlines that training minimizes risks and, at the same time, assures business success.

Challenges in the Banking and Finance Sector

The banking and finance industry presents a very complex environment under tight pressures from several large-scale challenges, among which are the following:

How eLearning Can Help

eLearning offers significant benefits that address these challenges:

Key eLearning Areas for Banking & Finance

eLearning effectively addresses key areas in the banking and finance sector by offering in-depth solutions for each of these areas. This could be on regulatory compliance; newer training programs are proposed on regulatory standards such as Know Your Customer, and Basel III, using interactive scenarios and assessments that employees can apply in real-world situations to demonstrate compliance knowledge.
A well-conceived training program can mean the critical difference between success and failure in today’s very competitive financial services. An outdated Flash-based sales training was causing a leading life insurance company a great deal of pain; it was less accessible and less engaging for their learners. The company needed to modernize the training experience-mobile-friendly and more effectively resolve these issues.
Upside Learning collaborated with them to revamp this into a challenging opportunity. We introduced Nuggetization in order to make them compliant on mobiles and created several very engaging live-action videos enhanced with superimposed animation. The idea behind this approach was to present the training as more engaging and accessible on multiple devices.
This indeed brought about a pretty good effect. The training redesign was now being delivered through a mobile-friendly DAP format, thus making the accessibility and engagement of the learners greater. The inclusion of live-action videos with enhanced graphics made for better effectiveness and memorability of the training with the employees themselves.
The main pointers of the revised program were developing learning nuggets and interactive videos compatible with mobile access, increasing access and engagement manifold. The value addition in terms of content ensured that the learners enjoyed their training both at an information-gaining and motivational level, setting a benchmark for effective sales training in the industry.

Our Unique Value Proposition

What makes us different is the scientific approach to eLearning at Upside Learning. Extensive industry research coupled with state-of-the-art instructional design methodologies goes into creating effective and engaging training solutions. Our customized eLearning ensures that banking and finance professionals are better prepared to deal with everyday challenges thrown up by a fast-moving industry.
At Upside Learning, it is all about investing in training solutions that would bring real results and continuing development for the workforce. Please feel free to contact us at elearning@upsidelearning.com to discuss how our solutions can benefit your organization or would like more information about how we have helped other banks.

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