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New qualification launched to fill the skills gap in banking

16 October, 2020
LIBF has launched a new Certificate in Retail and Digital Banking (CertRDB) – to help CertRDB press release banks fill the digital skills gap and to help those working in the industry ‘future-proof’ their career in the sector.

 Rob Thompson, Head of Banking Services at The London Institute of Banking & Finance (LIBF) says:

“In these changing times, banks need staff who can quickly move to a digital environment and keep up with fast-moving regulatory and economic demands. They'll also need staff who can build strong relationships with customers over digital channels. Banks are telling us that they need help to develop these skills among their staff – our new Certificate will help.”

Even before the pandemic, the world – and in particular banking – was becoming increasingly digital. Banks were facing fundamental challenges to their business models from fintechs, big techs and from customers themselves. Covid-19 has accelerated that change. But how can those working in banking adapt to these changes? 

Our white paper The 2020s banker, takes a deeper look at the issues facing the sector. It examines the priorities for banks and sets out why developing digital skills among staff will be critical to the finance industry's future success. Productivity will be paramount for banks and their clients in the months ahead. They will all have to do much more with fewer resources as the global economy gets back on its feet.

CertRDB will help banks equip their staff with the skills and knowledge they need to manage the changes, and will help staff to future proof their careers. It can be studied as part of the apprenticeship standard, enabling banks to use levy funding.

The Certificate covers:

  • emerging bank business models, retail products and services
  • changes in customer expectations and behaviour
  • digital innovation and its impact on customer services and bank processes
  • capturing, analysing and using customer data
  • digital influences in financial services Regulation and legislation.
It will also help staff to build skills in:

  • communication
  • assessment and problem-solving
  • understanding digital transformation in financial services
  • analysing and using data and information.
Find out more about the Certificate in Retail and Digital Banking