Businesses active in the financial services industry (be that banking, insurance, investment, trading or accountancy) spend a substantial part of their time in mitigating risk and complying with a growing set of regulatory and operational compliance requirements.
To ensure they remain compliant as a business, they must ensure their staff are up to date with the latest requirements. But generally speaking, compliance training, even today, can be viewed by some as a waste of time, a tick box exercise that’ll need repeating in six months time.
The problem with compliance training
Often, compliance training is rolled out to an organization as a whole. The problem with that is usually the training isn’t wholly relevant to every single employee and no matter how many times it is delivered, it isn’t always effective.
But for a lot of modern organizations, compliance training isn’t the only kind of learning they’re striving to provide. Many find themselves wrestling with the challenges of ensuring their staff maintain their professional qualifications whilst providing them with relevant information and resources to help them develop their skills.
For some, there is also the added pressure of optimizing learner engagement and minimizing the load on administrators through automation and accurate reporting – all of which comes at a price.
A more personal approach
At Learning Pool, we’re known for helping many financial services clients address these issues, creating the perfect blend of compliance training and continuous professional development opportunities.
- Our Learning Management System (LMS) offers proven compliance management, CPD management, event management, reporting and assessment engine features to help your learners get the most out of their learning experience.
- We have 650+ fully CPD accredited and completely editable catalogue modules covering topics such as soft skills, well being, leadership, compliance and financial services topics to ensure your staff has access to the content that is relevant to them.
- Our authoring tool, Adapt, enables our clients to edit our existing catalogue modules, as well as create their own learning content, to help staff maintain their CPD via the LMS.
We’re continually innovating, staying ahead of the curve, and improving our product set to ensure our clients get the most out of their learning investment. This is why we’re excited to announce three new developments which add even more value to our existing solutions:
Flexible CPD Management –
In addition to helping learners track their CPD by recording credits gained through approved internal and external learning activity, our enhanced LMS CPD plug-in now supports organizations using the CII CPD Scheme rules. This enhancement allows CPD managers to specify the minimum and maximum CPD hours needed to achieve CPD. Simplified for ease of use, there is also a new easy-to-read dashboard that allows learners to quickly identify what they need to do to remain compliant.
Better Compliance Management –
Our latest plug-and-play solution, LMS Pulse helps drive improved learner performance, increases compliance rates and saves administrators time. LMS Pulse uses rich xAPI activity data, pulled directly from the Learning Pool LMS, to trigger personalized workflows for learners. Instead of waiting for weekly digest reports or endlessly chasing workers who fall short on compliance, Pulse can be used to detect potential issues ahead of time and start a chain of notifications that can bring learners back on track. Pulse brings together two exciting technologies, Learning Locker LRS and our Waves automation tool, to create an exclusive feature for the 500+ customers who use our open-source LMS.
Historical CPD Data Migration –
This service allows clients to painlessly migrate individuals’ CPD records to the LMS in bulk to make migration from other CPD platforms easier.
Andrew McMonagle, Learning Pool’s LMS Product Manager explained:
We have been looking at the different markets using CPD and talking to our existing customers using our own CPD plugin. What we gathered from both, is that while our existing functionality gave them all the information they needed, what they really wanted was for it to be displayed in a more simplified way. We have taken onboard this feedback, as well as additional research, to produce a more simplified CPD Dashboard that gives the learner just the right amount of information they need. Additionally, with Pulse in place, organizations can immediately benefit from a more personalized touch with learners, even if they happen to have fewer resources in the business to make that happen. LMS Pulse is typical of the sort of innovation we want to bring to the LMS market; a tool that administrators and managers can rely on to make their lives easier, whilst also making the learner experience better.
These new features are available to all existing Learning Pool LMS customers but organizations active in the financial services sector will also benefit, particularly those that are looking to migrate to an LMS that helps them automate compliance and manage individuals’ CPD more effectively.