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Learning and development for bank professionals in a time of change

Bank professionals need to constantly learn and to develop new skills in a fast-changing industry. Deep knowledge of new banking trends such as sustainable finance, fintech, and digital transformation , or other topics like governance and risk, and new product development is now essential. We look at how The London Institute of Banking & Finance can help both banks and senior staff meet their training goals.

Banks must build the future

The services that banks provide are fundamental to economic prosperity. They help ensure future growth and employment. But how those services are delivered and the goals that societies want to pursue are changing fast. That means that even experienced financial services practitioners need to constantly update their skills and knowledge.

What new skills and knowledge do bankers need?

Firms have a particular need for staff who can tackle the four big evolutions in banking:

Sustainable finance – Economies can’t reach net-zero without making the right investments. What role can, and should, banks play in helping their clients and the wider economy? What do regulators expect now and how will that change over time? How are banks reacting to the challenge of net-zero? How can bank leaders support the change?

Fintech – Consumers and businesses are used to seamless service from tech firms. At the same time, regulators are opening up financial services to fintech competition. Banks must respond to these developments and grasp the opportunities that digitisation holds for financial services firms.

Business line development the many drivers of change in banking are opening up opportunities for new products and services, and for cross-sector collaboration. Banks will, for example, will have more cost-effective ways to support SMEs. Successful bankers will know what is happening and why and be able to take their institution forward.

How can bankers develop new skills and knowledge in lockdown?

Professional firms have traditionally used face-to-face training for their staff. One of its strengths is that lecturers who meet students in person can evaluate and support individual needs.

The pandemic has made in-person training impossible. But it has not made it impossible to continue to the tailored development of skills. In fact, the right online course can allow professionals to make particularly good use of their time because they focus on just the development they need.

Good online courses can also deliver more than a face-to-face setting by providing access to a global community of expert practitioners. That works particularly well when institutions – like the 140 year old London Institute of Banking & Finance – have a deep network and heritage.

Making sure it’s right

But access to lots of information and networking online is not enough. Firms and staff have to ensure that what they are learning is correct and at the right professional level. Can they, for example, demonstrate to the regulator that their people have the right skills and knowledge?

Professional qualifications, accredited by an accredited institute of long-standing, are central to the right training and development. They make a demonstrable difference to staff engagement and performance. They also show authorities that a firm is well run.

For more details of how you can engage with the professional qualifications in:

But access to lots of information and networking online is not enough. Firms and staff have to ensure that what they are learning is correct and at the right professional level. Can they, for example, demonstrate to the regulator that their people have the right skills and knowledge?

Professional qualifications, accredited by an accredited institute of long-standing, are central to the right training and development. They make a demonstrable difference to staff engagement and performance. They also show authorities that a firm is well run.

For more details of how you can engage with the professional qualifications in: