The current state of the banking sector lends itself towards the development of open banking, the importance of client-centric relationships and the rise of innovation and in light of several external factors, including Brexit and increased regulatory pressures.

As this transition from the traditional banking structure and culture continues to take place, it is only natural that even the biggest corporations are doing their utmost to engage with their consumers and ensure business continuity.

One thing that must not be neglected or ignored, however, is ensuring that those responsible for operations in the back office are adequately prepared to carry out their roles. This is not only in light of transitions in the broader sector but also to match the standards set by the business in the first place.

So, how can banks achieve what we would call ‘back office excellence’, and why should they?

What is the back office within a bank?

The back office of a bank refers to the employees that are not in client-facing positions who are responsible for processes and systems that ensure that the business is running as smoothly as possible.

Often considered less glamorous than a position that includes meeting and engaging with clients to build relationships long term, a role in the back office should not be considered any less important. The back office essentially forms the lifeblood of any business, and any company would inherently fail without it.

As the banking sector becomes more synonymous with automation on a global scale, and tasks such as reporting and workflow approvals are more commonly carried out using software and AI, there are still employees across an entire hierarchy who need to oversee these operations and carry out the tasks that machines simply cannot.

How back office excellence can be achieved with business banking training

With so many operational factors and employees to account for, it is critical that business banking training programmes are being utilised in order to prepare and train people at all levels to perform at their best.

In particular, business banking training courses should focus on:

  • Highlighting the importance of the back office
  • Making employees aware of the organisational structure within the bank
  • The risk culture and leadership standards at the business.

If employees are given the right tools and programmes to be able to achieve back office excellence, regardless of whether it focuses on products or services, quality control, data or anything to do with the future of operations, they will more likely succeed in integrating and aligning their processes with what is trying to be achieved at the front office.

MDA Training’s approach to achieving back office excellence in banking

Here at MDA Training, we believe in learning by doing. That is why our programmes are delivered through a range of bespoke, experiential methods, which serve to embed and sustain learning back in the workplace.

We take the time to understand the organisational structure and divisions within a bank and formulate a training solution to suit specific needs. In regards to back office excellence, our programmes are designed to ensure that those responsible for maintaining operations can make relevant commercial decisions to impact the business.

Whether it is digital learning solutions, commercial banking simulations or perceptual thinking, we are able to create a bespoke programme.

The imminent changes that the banking sector is facing will continue to affect the industry more than ever before. Despite this, businesses can still ensure that their operations are running as smoothly and as competitive as possible through the right business banking training solution.

Particularly in the back office, which forms the basis of how the bank operates and will continue to operate for the foreseeable future, ensuring that employees are working at optimum levels can inherently be the difference between success and failure.