While Banking and Finance industries have been early adopters of eLearning, only in recent times is mLearning being considered. In this article, I will outline how mLearning can be one of the most meaningful training solutions for Banking and Financial Services. Additionally, I will share my insight on “learning as a continuum” and how eLearning or mLearning-based formal training can be effectively supplemented through Performance Support Tools (PSTs).
In this rapidly changing world of technologies, banking and financial organizations have a continuous need to train and develop their employees on new processes, financial instruments, technologies, soft skills, and so on.
Although the majority of them rely on instructor-led training, eLearning has become a key component of the overall training delivery. The trend is gradually extending to mLearning. Alongside this transition, there is a clear shift towards evaluating innovative learning strategies to improve efficacy of training.
The training needs can be categorized into the following primary areas:
Sales training is certainly the best fit wherein the products and solutions-related collateral can be made available to professionals on the go on tablets and smartphones.
However, we are now seeing a clear shift in providing the other training programs through mLearning as well. These now include:
My personal experience shows that most Banks and Financial Services organizations tend to opt for more traditional approaches to offer learning.
Yet, with changing learner demographics (includes Gen Y in significant numbers), these organizations need to factor for learning strategies that are different and are deployable on devices of the learners’ choice (tablets and smartphones).
While information security aspects are critical to these organizations, today technology effectively supports managing mLearning roll-outs without compromising this crucial aspect.
Moving forward, more and more organizations will support Bring Your Own Device (BYOD) in a secure environment leading to significant mLearning needs in this sector.
Over last four years, we have created wide ranging mLearning solutions successfully. These include Instructional Design strategies featuring:
Today, organizations must look beyond formal training and look at approaches that create “learning as a continuum”.Performance Support Tools are a great way to push the learning from mere “knowledge acquisition” to “knowledge application”.
These learning aids are available within the learners’ workflow and cause little or no disruption. These short nuggets can enhance the productivity, push the application of learning, and create a tangible gain for both employees and the organization.
Banks and Financial Services companies can integrate Performance Support Tools in multiple ways:
I hope this article is useful in identifying how mLearning and Performance Support Tools can be innovative training solutions for Banking and Financial Services organizations and help them create a sticky learning experience for their employees.
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