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Professional qualifications

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.

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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. As a manager, 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.

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

Benefits for you

  • Qualify in six months
  • Online study that fits around your life
  • Student membership with additional benefits including access to careers support, events and networking opportunities
  • Certificate when you complete the course
  • One step closer to becoming chartered in banking
  • Your credits will contribute to the Chartered Associate Programme
Registration fee £995           
When to apply? There are two registration periods during the year.
View our timetable section for upcoming registration deadlines.
Number of units  Two
Average time to complete  Six months
Study type  Part-time, distance learning
Study materials
  • Online access to our student portal MyLIBF
  • Online access to our virtual library KnowledgeBank
  • Live introductory session
  • Topic videos and podcasts
  • Webinars
  • Online tutor forum
  • Online learning activities i.e. self-test questions
  • Assessment preparation webinars
  • Printed student handbook
  • Coursework example papers
  • Study planner

Your registration also included extracts of 'The Strategy Journey' e-book as an additional resource.

Assessment type  Coursework for each unit
Assessment provider   You can book your exam at test centres nationwide
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.

Get up-to-date information relating to Coronavirus.

Andy Davis shows how big banks are responding to competition from start-up rivals by launching their own digital-only offshoots and upgrading their IT systems.

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.

Timetable

There are two registration deadlines for the SMIB qualification.

You can view the upcoming study sessions below.

 

SMDT unit:

Details Date
Registration deadline
23 October 2020
Course start date
03 November 2020
Coursework deadline
01 February 2021







PSDB unit:

Details Date
Registration deadline
23 October 2020
Course start date
03 November 2020
Coursework deadline
26 April 2020








Assessment

You’ll be assessed in each unit by:

  • Unit 1: single piece of coursework with a limit of 3,000-3,500 words
  • Unit 2: single piece of coursework with a limit of 3,000-3,500 words
Coursework will be submitted electronically through the course site MyLIBF.

When you have successfully completed the qualification, we will post your certificate to you.
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Frequently Asked Questions

Your registration fee includes the qualification study materials, and the first sitting of your exam and/or coursework. You will also gain access to MyLIBF (our student portal). Some qualifications include a hard copy of the study text, access to student forums, tutor forum support and specimen papers.

If you need to resit your exam or coursework, you will need to register and pay for a resit.

In line with our charitable objectives, we make means-tested bursaries available to students studying our qualifications.

Bursary information

If you would like to apply for a bursary, please email our Student and Customer Services team or call them on +44 (0)12 2781 8609. Please ensure that you have details of the qualification you intend to study when contacting us. 

Recognition of Prior Learning (RPL):
Recognition of Prior Learning (RPL) encompasses a student’s previous non-certificated and certificated achievements obtained through another awarding organisation. This has previously been known as an exemption.

Please read our Recognition of Prior Learning Policy as it explains the steps to take when applying. Your application will need to include certified copies of your qualification certificate or transcript.

We aim to provide an outcome within 10 working days. If we need longer, we will let you know.

Special consideration:
The Special Consideration Policy applies to students who believe they have been disadvantaged during, or before, an assessment because of an injury, illness or other unforeseen temporary circumstance beyond their control that may have adversely affected their performance in one or more assessments.

Please read our Special Consideration Policy as it explains the steps to take when applying. Your application will need to include supporting documentation.

Given the individual nature of special consideration claims, we would recommend that you contact our Student Support team on +44 (0)1227 818609 or support@libf.ac.uk for an informal discussion before you submit your application.

For your claim to be considered, you must have initially notified us of your circumstances on or before the submission deadline for coursework or within five days of the exam date. Any applications made outside of this timescale must include an explanation as to why the delay has occurred.

We aim to provide an outcome within 5 – 10 working days. It may take longer if your application is referred to the Concessionary Board.

Reasonable adjustment:
We are committed to providing an inclusive educational experience for all students, regardless of any disabilities or learning difficulties they may have and realise that, without reasonable adjustment, students may be prevented from demonstrating their true level of ability during an assessment.

Given the individual nature of reasonable adjustments, we recommend that you contact our Student Support team on +44 (0)12 2781 8609 or support@libf.ac.uk for an informal discussion before you submit your request. This will allow us to fully understand the nature of your circumstances and advise you on the type of supporting evidence required.

The Reasonable Adjustments Policy explains the steps to take when applying and has an application form included. Your application must be received, with supporting documentation, at least six weeks prior to the date when the adjustment will need to be in place.

You have 14 calendar days from your course start date to cancel your registration and arrange a refund by calling our Student and Customer Services team. You will need to return any hard copy study texts in its original condition.

After this period all fees are non-refundable and non-transferable.

If you have booked your exam with Pearson VUE (and are within the cancellation period), you will need to contact them directly at least 24 hours prior to the exam date to cancel it. Then allow at least two hours before calling our Student and Customer Services team to cancel the qualification registration and arrange a refund.

Contact Pearson VUE on +44 (0) 370 608 1915 (Europe, Middle East, Africa region).

Electronic Pearson VUE exam:
Before your registration expiry date you can cancel your exam or change your exam date, time or venue (subject to availability). You will need to contact Pearson VUE directly, giving a minimum of 24 hours’ notice online or at least one working days’ notice by phone prior to your current exam booking. For example, if your exam is booked for a Monday, the latest you can reschedule is the previous Friday.

Pearson VUE can be reached via the details given on your Important Registration Information link on MyLIBF or our ‘Exam booking and information’ page.

Session based exams (set exam date as per study timetable) including Advanced Financial Advice (AFA):
Please telephone Student & Customer Services directly to discuss your options. You may be able to change your venue, but will need to call us at least eight weeks before your exam date to check.

For all exams, if you are unable to provide the required notice due to significant mitigating circumstances, such as sudden illness, please contact Students and Customer Services straight away as you may be eligible for Special Consideration. Supporting documentary evidence is required for a Special Consideration application.

Making a result enquiry:
If you believe there has been an error in the marking of your assessment, you can apply for a result enquiry.

The Assessment Result Enquiry Policy explains the steps to take when applying and has an application form included. Your application must be received within 10 working days after we have communicated your assessment results.

This policy does not apply to students who believe their performance during an assessment may have been affected by external factors, for example noise, illness or unforeseen circumstances. These cases are dealt with under our Special Consideration Policy.

Appealing a decision:
You have the right to appeal to us to review decisions that have been made in the course of the assessment of your programme of learning. An appeal may only be submitted in relation to a final decision.

Please read our Appeals Policy as it explains the steps to take when applying, in particular section B 'making an appeal'. Your application must be received within 15 working days after we have communicated the outcome of a decision.

Making a complaint:
A complaint should be made if you are dissatisfied by one of our products or services as soon as possible, but no later than 10 working days from the date of the occurrence.

We deal with all complaints as promptly as possible and within clearly defined timescales. The stages for handling a complaint are listed in our CPQ Complaints Policy.

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