Three-young-professionals-in-a-business-meeting — Professional qualifications
Level 6 Strategic Management & Innovation in Banking (SMIB)

Learn the knowledge, tools and techniques to understand and respond to strategic drivers for change and digital transformation in banking and finance.

This qualification is now closed for new students to register online. However, if you’re an existing banking student and you wish to register, you will have until April 2025 complete your studies.If you have any questions or would like to register, please contact our customer services team on 01227 818609 or email customerservices@libf.ac.uk.

About the qualification

Due to digital, the world we live in never stops changing.

While banking benefits from these consistent digital advancements, it also experiences the risks and challenges. To provide the best possible service to your customers, you need to keep up with these conditions and develop a skillset that will enable you to implement intelligent strategies.

SMIB shares the strategy influencers that drive change and innovation in the banking and finance industry. It will provide you with the skills you need to devise and implement strategies and achieve organisational goals.

You will study the concept of strategy, how to analyse the factors that drive change and learn how to understand the risks and threats associated with strategic choices.

This will give you a new context to consider digital transformation – and the challenges and opportunities it presents to banking. We will teach you how to use customer journey and service design processes for the digital age.

While studying with us, you’ll become a Member of The London Institute of Banking & Finance (MLIBF), receiving benefits including careers support and access to professional networking events.

Your studies will cover

The importance of strategy for banking operations
The main external drivers and impact of the internal environment on strategy
The changes that have brought disruption and the impact on the banking value chain, products and services
The changing customer expectations and the need to redesign customer experience models
The types of digital services that can be applied along the stages of the customer journey
The role of banks in the future financial services value chain
The new capabilities required to support the customer journey and services of a digital bank of the future

How much does it cost?	£1,080 – includes your study materials and coursework
Average time to complete?	Six months
Number of units	Two
How will I be assessed?	Coursework for each unit
What study materials do I get?	As part of your fee you'll get: online access to our student portal MyLIBF online access to our virtual library KnowledgeBank topic videos and podcasts webinars tutor-led forum online learning activities i.e. self-test questions assessment preparation webinars online student handbook coursework example papers study planner Your registration also included extracts of 'The Strategy Journey' e-book as an additional resource. You will be learning on our new VLE Brightspace, click on the logo to find out more.
How will I study?	Everything is online, you’ll follow a structured timetable
Regulation	Level 6 qualification registered with Ofqual in the Regulated Qualifications Framework (RQF). It is available through a number of apprenticeship standards, including the Level 6 Financial Services Professional Apprenticeship Standard when taken as part of the Chartered Associate Programme.

View the qualification specification

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Units

SMIB consists of two units, which must both be successfully completed to achieve the qualification.

Unit 1 – Strategic Management and Digital Transformation in Banking (SMDT)

You will discover how important strategy is for banking operations, what drives strategy externally, and how strategy is affected by internal structure and processes. You will learn about the changes that have disrupted the banking sector and how they have affected the banking value chain, products and services.

Unit 2 – Product Innovation and Service Design in Banking (PSDB)

This unit covers changing customer expectations and the need to redesign customer experience models; the types of digital services that can be applied along the stages of the customer journey; the role of banks in the future financial services value chain and the new capabilities required to support the customer journey and services of a digital bank of the future.