The infrastructure of a banking business is something that will have been changed, developed and perfected over several years. From longstanding blue-chip organisations to challenger banks that are beginning to disrupt the industry, infrastructure will always be a priority.

From facilities to specific services and the culture and values set by founding members, the infrastructure of a bank will ultimately contribute to its success or downfall. As a result, it is crucial that every single employee across the business is aware of how operations and processes work.

To achieve a company-wide sense of awareness, there needs to be a focus on ensuring that any graduates and new hires are familiar with the several infrastructure divisions within the business in order to allow them to make well-informed decisions and develop their commercial skillsets.

The importance of immersing new hires within the infrastructure of a bank

There are so many market developments and disruptions affecting banks and their employees in the modern-day, and this has contributed to the development of new and improved infrastructures worldwide.

From regulatory pressures to open banking and audit activity, the average banking employee needs to prioritise a completely different set of values and skills compared to say, ten years ago.

With this in mind, it is near-impossible to expect a new hire to fully integrate themselves with how the bank operates in every sense without the appropriate support and development. While they may be qualified to carry out their role(s), they will struggle to adapt to the specific needs of the business without the right guidance.

As a consequence of this, a bank may find itself with a group of talented employees who are unable to grasp the concept of specific infrastructure divisions within the business, ultimately hindering continuity in several areas and creating a negative environment among new hires.

MDA Training’s approach to onboarding for banking infrastructure divisions

When it comes to onboarding and developing the skills of new hires in banking, we believe that experiential training is key. In allowing employees to actively engage with tasks and activities related to the infrastructure divisions within the business, they are more likely to embed, retain and sustain learning in the workplace.

This way, employees are encouraged to develop relevant and practical skills and insights that they will be able to apply right from the beginning of their careers.

We have identified seven key features that should be focused on in order to develop knowledge of infrastructures. These are:

  • Banking strategy
  • Onboarding clients
  • Delivering client service
  • Measuring and managing risk
  • Forensic audit activity
  • Client communication surveillance
  • Dealing with code of conduct breaches.

All of these features combined will provide an entire host of new hires with the commercial skills capabilities they need to progress and work in line with the values and standards set out by the bank.

It inherently makes sense that the business infrastructure of a bank, which is one of the fundamental elements of the company, is put forward as a crucial element of the development of new employees at all levels.

While the majority of new hires will be eager and willing to learn how their new business operates and ultimately succeeds, their integration into the company can be improved at every stage with the right onboarding solution.