Case study

Barclays

Overview
Progressive firms who want to overhaul their traditional training practises are turning to e-learning.

A recent survey* reported that the number of City compliance teams running e-learning applications has rocketed from 21 per cent to 61 per cent, in only two years.

Barclays UK Banking is at the vanguard of this trend. They realised that at least 10,000 staff needed to improve their understanding of fraud and anti-money laundering processes. Their existing training was simply too costly and without any real guarantees of knowledge retention. An Absolutely interactive e-learning course was seen as a faster and more efficient way of achieving their compliance needs.

Compliance Customised
Barclays UK Banking is split into six departments, (Small Business, Medium Business and Agriculture, Large Business, Ventures, and Sales Financing) each facing different kinds of risks.

To ensure the course was relevant to all departments, Barclays asked Absolutely Training to customise its anti-money laundering and fraud courses so that the course matched each department’s requirements exactly.

Business Case
Marion Cracknell, Operational Risk Governance and Process Systems Manager of Barclays UK Banking, says:

“We wanted to avoid the financial and reputation damage. But we also believe we are making technical improvements to the business that will impact functionality and future resource allocation.

Ultimately we believe best practice in fraud and AML management will see the bank earn a double dividend, from a responsive regulator and loyal customers, who value positive action on this issue.”

Conclusion
Barclays embraced e-learning and used it improve their entire training regime. If you want to do the same call us on 0845 130 5138.
* Source: 2004 Wide Learning Survey of Financial Services Compliance Training

Interested in the Barclays treatment? Call us on 0845 130 5138.