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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
Registration fee £1,010
The price includes study materials and exam entry.  
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 This qualification is online and you will follow a structured timetable. 
Study materials
  • Online access to our student portal MyLIBF
  • Online access to our virtual library KnowledgeBank
  • Live introductory session
  • 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.

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You will be learning on our new VLE Brightspace, click on the logo to find out more.

Assessment type Coursework for each unit
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
25 October 2021
Course start date
01 November 2021
Coursework deadline
31 January 2022







PSDB unit:

Details Date
Registration deadline
25 October 2021
Course start date
01 November 2021
Coursework deadline
03 May 2022








SMDT unit:

Details Date
Registration deadline
25 April 2022
Course start date
03 May 2022
Coursework deadline
01 August 2022







PSDB unit:

Details Date
Registration deadline
25 April 2022
Course start date
03 May 2022
Coursework deadline
24 October 2022








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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