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The notion of using eLearning to train bank employees is unfortunately very rare in the banking industry. Organizations from the banking industry are just like other corporate organizations with their own set of training challenges. There is no reason why online training wouldn’t disrupt the traditional training setups in the banking industry. In this article, we’ll talk about various areas in which a banking LMS can be used to deliver training.
Areas of Training in the Banking Industry
The banking industry needs to provide training to its employees in the following areas:
1. Compliance Training
The banking industry can be counted in the list of industries with the maximum importance given to compliance training. A banking LMS can be used to deliver compliance training to increase awareness about the laws, regulations, and company policies.
2. Process Training
Banks and financial institutions regularly roll out new processes that the employees must be trained with. This calls for a solution that has the ability to deliver just-in-time training and achieve learning objectives faster. eLearning saves both time and money by eliminating the need for an instructor to deliver process training.
3. Soft-skills Training
Banks have employees with diverse roles and responsibilities which are heavily dependent on communication. A banking LMS with social learning features makes the soft skills training experience more engaging, social, and interactive which can be very beneficial for bank employees.
4. Software Systems Training
It is necessary for the employees to be proficient in the software systems that they’re expected to use to cater to their day-to-day responsibilities. An LMS that is specially designed for the banking industry can significantly simplify software systems training for both learners and L&D professionals.
5. Sales Training
Sales training is one of the most challenging types of training to deliver, especially in the banking industry. A mobile banking LMS allows you to deliver effective sales training by enabling just-in-time learning and on-the-go learning.
6. Onboarding Training
Getting new employees well-versed with the necessary knowledge and skill required for their job in a short span of time is a big challenge. An LMS with the right features can solve this challenge by delivering engaging and retentive learning experiences.
The Need for a Mobile Banking LMS
While training in all of these areas can be delivered using a banking-specific LMS with the right features, what is the need for a mobile banking LMS? It offers a wide range of benefits that is increasingly compelling L&D professionals to adopt it:
1. Self-Paced Learning
With a mobile banking LMS, you’ll be able to deliver small, bite-sized, topic-specific content to the learner. This supports self-paced learning by allowing the learners to train on their mobile devices anywhere and anytime.
2. Achieve Learning Objectives Faster
Smaller modules allow learners to go through them quickly without losing engagement. These modules provide more focused, need-to-know information which allows learners to achieve learning objectives faster.
3. Just-in-Time Learning
Mobile learning enables just-in-time learning which means providing information to learners when it’s needed the most. This especially helps in sales training and process training.
4. Leverage Various Training Strategies
With a mobile banking LMS, you can leverage various training strategies. Leverage VR and 360-degree interactive videos. Use social learning and interactive elements to make the learning experiences more engaging and interactive.
To sum up, a mobile banking LMS can be used in various areas of training. It also offers a wide range of benefits that make it the perfect choice for the banking industry.
At GCube, we have 20 years of experience and 80+ industry awards in learning technologies; and would love to hear your thoughts, queries, and suggestions. If you’d like a demo of our mobile banking LMS, talk to us today!
