How can banks provide better operations with banking e-learning?
Banks are including elearning to make sure employees are adept at doing their jobs. They are given games by the senior management to ensure they get a hang of their job roles.
How are banking elearning games helpful in handling customers?
Banks face a crisis when it comes to handling a tough situation. It’s because although customers have shifted to internet-based banking due to the pandemic still some of them prefer to come to banks. It’s because old people can’t operate online banking software and hence need resolutions of problems such as cheque clearance, the opening of savings accounts, etc. These banking elearning games make sure that customer executives experience situations like how to handle queues in banks and don’t panic when such a situation emerges.
These simulation games empower employees to handle their job roles better. For example, in a cheque clearing game, the employees are supposed to move the players, to handle tasks like when a customer gives a cheque after which they have to verify the details. Any wrong move in the game penalizes the players. All the game results are sent to the managers who then decide when an executive should be allowed public dealing. When an employee has attained a certain score, he can then be shifted to a customer handling role.
When employees play such games, they get hands-on experience in dealing with customer processes, so they don’t commit any errors in the actual process. Such elearning helps employees to deal with situations like mortgages, payments, and approval of loans. The customers want expedited processes when they come to banks and hence elearning has become a crucial way to achieve these results. Banking elearning must also include system safety because any carelessness can cause bugs to enter the system and everyone knows the consequences of data theft in such organizations. Hence access control is important in this kind of training.
Security is also important in banking elearning because if any information about the process is leaked, the operations can be compromised. Any hacker can get knowledge of a bank’s operations and this can be risky. Hence access to banking elearning courses should be there for employees only.
Teaching employees about hard skills, soft skills, and compliance
Banking involves a lot of administrative tasks done through software. Hence it involves teaching employees the correct use of software for their job duties so that they become efficient. After going through banking elearning employees not only gain hard skills, but also soft skills and customers are more pleased. With an elearning platform, when employees play simulation-based games for their skill assessment, their performance can improve. Such communication skills are quite useful in convincing customers to save and open accounts with banks. Of course, the ability to save differs between different customers. But their psychology towards savings can be influenced by a banking officer who can tell them about good rates on term deposits. This way, the customer can become more financially knowledgeable and learn about how savings can fetch him good rates of interest. But there needs to be the protection of customers so that they are not defrauded. However, law-making authorities in several countries have come up with rules to protect customers’ money.
In 2017, RBI made changes to the Banking Ombudsman law which protects customers in case they are misled about a banking product(mis-selling). For example mis-selling happens when someone tries to conceal facts about a financial product like asking customers to invest in mutual funds which are linked to securities whose values can fluctuate and there is no assurance of monthly returns. But banking elearning can teach employees to refrain from such practices to protect the integrity of a bank.