Creating Impactful Learning: Experiences in the BFSI

Technology-aided learning has permeated every leading industry in the world. The Banking and Financial Services Industry (BFSI) has been a forerunner in adopting the newer ways of imparting training for its ever-increasing and ever-changing training needs. But, as often happens with many early-adopters, the initial elation of discovering the new is followed by the inevitable question, ‘What else?’

In our experience of working with the BFSI, we have often been asked this question. The answer to this can be found with a little introspection – of what the learning needs to achieve, the available technologies, and the ways of garnering them to create impactful learning.

• Compliance with a Difference: Compliance trainings are mandatory and, being information-heavy, they are also plain and drab. While a text-only approach is often the chosen route to develop such a course, there are ways to increase learner interest that aid the learning process as a whole. We developed an Anti-Money Laundering course for a leading international bank, which not only imparted precise information but also enticed learning engagement to encourage application of the knowledge acquired.

• Multiple scenarios, closely mimicking real-life situations, were put forth following every important concept introduced in the course.
•  These scenarios encouraged the learners to put themselves in the situation described and choose an apt reaction based on the information gathered through the course.
•  For instance, while the course described some clear pointers that help detect money laundering, a scenario was put forward to help the learners gauge the way forward if they detected a fraud.
• These scenarios provided a practice run for the learners to apply the knowledge gathered and learn to work with the practical aspects of the subject.

• Game-Based Learning: Games build on scenarios and take them to the next level. Built with interactivity to engage the learner, games can be highly instructional as well as a lot of fun. We developed a game for a leading multi-national bank to train their sales staff on the ways of developing effective customer relations.

• The structure of the game was kept simple, so lack of computer proficiency was not a deterrent.
• The game had a series of activities to depict customers and their varied queries. The learner had to lead the customer to the ‘right counter’ in a simulated environment, as per the nature of their query, and make sure that the query is answered correctly.
• If the attempt was wrong, the correct answer was duly indicated with a clear explanation of the ‘whys and wherefores.’ This provided the learner the opportunity to learn – irrespective of whether the chosen route was right or wrong. These multiple learning opportunities were spread out throughout the game and made sure that, while the learner has fun, the required knowledge was also duly delivered.

• Audio-Visual Brilliance: Multimedia elements can produce the necessary brilliance in a course – they add that ’zing’ to capture instant attention. The BFSI is an industry that witnesses a continuous influx of personnel. Induction Trainings are thus very important in this industry and are a recurring part of the training calendar.

• We created a course for a large international bank, which created an impact through its strong audio-visual appeal.
• The introductory frames were created in 3D and the learners were provided special glasses for the same. This introduced a sense of novelty as well as curiosity for the learner, which fuelled the quest to learn.
• The 3D elements included a mentor, in a travel theme where the ‘journey’ begins with the introducing the learner to the vision and beliefs of the organization. The journey takes the learner to the different regional offices and culminates at the head-quarters.
• Organization video clips and accompanying audio was utilized to explain business objectives, organizational structure and policies.
• These elements not only reduced the bulk of the training (from a 7-day course to just 1.5 learning hours) but also made it immensely interesting for the learner and held his attention from beginning to end

• Garnering the Mobile Advantage: Mobile technologies have also been harnessed in the industry – especially in the field of sales. The staggering number of sales personnel in the industry posed an initial challenge – but the economics of providing them with a mobile device and the availability of cheaper mobiles and tablets opened a wide avenue of opportunities.

• The BFSI sector is highly competitive, with newer products and services being introduced on a continuous basis. Policies and regulations also keep changing and the sales personnel need to keep track of all that.
• The recent developments in mobile technologies have been path-breaking, and that has spelled good times for this industry. As a result, sales apps – which are being developed specially for the BFSI – help the sales personnel get instant updates on products, services and policies.
• Custom-made video-based content is made available through the mobile platform to provide sales personnel with instant knowledge on the product portfolio or provide a quick learning nugget on making a successful sales pitch.
•  To manage the financial aspect of imparting video-based training, mobile-compatible soft-skills trainings can be bought both off-the-shelf and based on subscription – as and when required.

There is a lot that can be done in the BFSI domain and, with the emerging technologies, the opportunities are limitless. To know more about our experiences in the domain, write to in**@gc**********.net.