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E-learning in banking: how does it work?

There are so many benefits associated with e-learning methods when it comes to developing the skills of employees. From improved learning retention to increased flexibility, e-learning epitomises the rise of technology and innovation in the modern workplace.

Particularly in the banking sector, where competition is rife, and businesses need to keep one finger on the pulse of any market developments, e-learning can prove to be a quicker and more efficient training method when compared to traditional events.

No matter what the focus of a banking training programme is, there will be an e-learning solution to suit the needs of employees from different backgrounds and capabilities.

But how can it be tailored for specific areas of banking?

Improving compliance training

The importance of understanding and complying with the rules and regulations set out for banking businesses has never been greater. Especially following the rise of open banking, as well as the changes the industry is undoubtedly set to face after Brexit, business leaders need to ensure that their compliance training programmes are up to speed.

With so much to learn on a continual basis, the flexible and quick nature of e-learning will always lend itself to compliance training. Whether it’s an instructor-led webinar, a mobile learning experience or anything else for that matter, accessing a digital platform will allow employees to refresh their memories and retain information better.

Onboarding new hires

Attitudes towards onboarding are inherently changing in the modern workplace as the younger, technology-savvy generation continues to develop their skills. Particularly in the banking sector, tenacious graduates and new hires are looking to perform at optimum levels in order to secure management positions later on in their careers.

When it comes to onboarding these individuals, it is no secret that e-learning methods will prove to be more effective in engaging young employees with their new roles. According to UrbanBound, 69% of employees are more likely to stay with a company for three years if they experience great onboarding.

Offering new employees the opportunity to engage with technologies that they are familiar with will allow them to integrate into the business and their wider roles with ease.

Developing credit skills

As we’ve previously discussed, credit skills are incredibly necessary for employees in the banking sector. Without them, internal processes and operations will inevitably fail.

To ensure that employees across an entire hierarchy possess the credit skills related to the bank as well as being able to implement them in their everyday processes, interactive e-learning solutions can be utilised. From digital solutions to mobile learning and virtual reality, the core credit methods of the business can be communicated effectively through these mediums.

MDA Training’s digital offering in banking

Here at MDA Training, we have a full suite of digital learning solutions that are tailored for the banking sector. Utilising our experiential approach, we can create and implement a training solution that is directly related to your business and KPIs.

Drawing on proven perceptual thinking methods and delivered using e-learning as well as bespoke business simulations, we are able to motivate and engage your employees. For more information, download our sample programmes here.

A banking business that embraces e-learning and implements it in the workplace will be better prepared for the rise of technology and innovation than a business that does not.

Put simply; e-learning poses so many opportunities for individuals to learn in a way that suits them best to perform at optimum levels in their chosen field. In the banking sector, with competition and regulation being of the utmost importance, streamlining the training process can prove to be crucial.

FOR MORE INFORMATION ON THE E-LEARNING METHODS WE UTILISE AS PART OF OUR BUSINESS BANKING TRAINING PROGRAMMES, CONTACT MDA TRAINING TODAY.

#Banking #Compliance training #Credit Skills #E-learning #onboarding

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