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11th June 2008
UK financial services institutions act to prevent compliance
failures, using mobile learning technology by Giunti Labs
A major bank's £6.3m fine in April 2006, following misconduct in its
handling of share trades in two firms, has prompted one of the UK's
major financial services institutions to use a novel approach - via
mobile performance support delivered to its staff's PDAs and
BlackBerrys - to provide ‘nuggets' of regulatory and compliance-based
information as well as key learning points related to data protection.
The mobile delivery system that is making this possible is supplied by
leading learning and mobile content management technology provider,
Giunti Labs. The content is being authored and developed for deployment
by Eukleia Training Limited, a specialist provider of compliance
training services for the financial services sector; while the
learners' test results - returned by Giunti Labs's mobile learning
platform - are being sent and monitored by the institution's learning
and talent management system, provided by partner Cornerstone OnDemand.
Angus Turpin, managing director of Giunti Labs UK, explained that three
key issues have prompted this approach:
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Many organisations in
the financial services sector - notably retail banks - reserve all of
their network capacity, during working hours, for business operations.
This leaves no capacity on the network for the vital e-learning
programmes that are needed to keep staff up-to-date with regulatory and
compliance issues.
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In order to prevent
unauthorised access to confidential information, Financial Services
Authority (FSA) regulations along with bank regulations, prohibit staff
from using Bluetooth or other wireless networks with their laptops.
Consequently, many staff in the financial services sector rely on
BlackBerrys in order to send and receive email.
"Consequently the
opportunity for, and ability to, carry out e-learning in working hours,
using the organisation's network, is severely limited," Turpin said.
"The answer - at least to three divisions within this major UK
financial services institution - is to develop compliance and data
protection related learning materials, with accompanying tests; then
make those available to staff via a number of mobile learning options.
"While staff don't have the time to spend on a 40 minute e-learning
course, they can easily find time to take the course in, say, ten
minute chunks via their mobile. A further advantage of this system -
which, of course, takes up none of their employer's network bandwidth -
is that any changes in regulations will involve altering only one
module rather than an entire course.
"Mobile and traditional e-learning are complementary formats," he
continued. "There is a very real need to deliver the core, basic facts
to time-pressured professionals and a mobile device is an ideal way to
achieve this - even if it doesn't completely replace the need for more
in-depth learning."
The mobile learning materials can include video - if the user's mobile
device supports video - and conclude with a series of multiple choice
questions. The user's answers are recorded and uploaded in real time to
the Giunti Labs' server, for eventual transfer to the financial
services institution's talent management system.
"The test answers can be marked in real time," said Turpin, "but most
of our clients update the users' results every 12 or 24 hours.
"These test results are an indication that staff have received training
and that there is an implied level of understanding which is a part of
the training and competence requirement. The FSA views this
positively."
Turpin revealed that a number of other financial services institutions,
including banks based in Germany and France, are also in discussions
with Giunti Labs about adopting a similar arrangement to ensure their
staff's compliance with the sector's legal requirements.
"We believe that this mobile learning approach will benefit other
industries too," said Turpin. "Any industry in which employers have a
number of remote workers who need to have access to key information,
such as health and safety information or product updates, could use
this performance support system to excellent effect."
End
Notes for Editors
About Giunti Labs
Giunti is unique in the international publishing industry.
In 1497, Giunti publishers and typographers in Florence, together with
others in Venice, began modern book manufacturing. Over the years
Giunti has built a 'historical catalogue' of huge dimensions, through a
gradual process of 'fusion' of different publishers, but also through
the creation of new brands, including Giunti Labs. Giunti Editore now
includes 20 companies in the publishing sector.
Giunti Labs, which has its global headquarters in Italy and offices in
London (UK), Frankfurt (Germany), Lund (Sweden) and in Boston (US),
provides a wide range of services, in response to any content, learning
and knowledge management need, covering:
-
Content production
-
Research and
development
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Technological
solutions for content, learning & knowledge management
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Architectural and
technological solutions for mobile & wireless
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Training and
consulting
Giunti Labs provides
the learn eXact® suite, Europe's leading e-learning and mobile learning
content management technology. This suite is interoperable with all
major vendor-driven and open source LMS and VLE solutions in the market
including Plateau, Oracle, SumTotal, Saba, WebCT, Blackboard, Sakai,
LRN and Moodle.
Moreover, Giunti Labs does not just adhere to the international
standards relating to the LMS/LCMS world, it is one of the
organisations that helps to determine and drive these standards:
co-writing and developing them. Giunti Labs plays a key role in most of
the international institutions for the definition of eLearning
specifications (IEEE LTSC, ISO/IEC JTC1/SC36, CEN/ISSS WSLT, AICC, IMS,
ADL-SCORM and OKI).
Further information from:
Minna Leikas, Giunti Labs, +39 3489 399127
Bob Little, Bob Little Press & PR, +44 (0)1727 860405
