Bourne Training

The Institute of Financial Services (ifs), the official brand of The Chartered Institute of Bankers, is a leading provider of learning and qualifications to the financial services industry. They wanted to develop a range of Competence Development Tools to help the staff of banks; building societies, IFAs and brokers prepare for regulatory examinations and support the ongoing achievement of compliance with FSA regulations.

Specific requirements included:

• The mechanism to assess competence through a series of dynamically created tests which validated the knowledge required to achieve success in the examinations
• Creation of functionality which mirrored the examination environment. Knowledge tests, mock exams and synoptic exams were all required
• The facility to provide access to the study materials through the competence assessment activities
• A structure which could be delivered on-line and via CD-ROM, and would provide ifs with a simple mechanism of updating content quickly to reflect changes to legislation, regulation and taxation rules

“Bourne has a very consultative approach to development. They never present pre-determined solutions and have the pedigree and experience in financial services to ask searching and appropriate questions. The result is that we have jointly produced a range of Competence Development Tools, which have received very positive feedback from both individuals and corporate customers. Indeed, they have been a significant factor in winning some major corporate accounts.”

Mark Roberts, Head of Faculty, Financial Regulation, ifs

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Bourne developed Competence Development Tools for the ifs Financial Advice (CeFA), Mortgage (CeMAP) and General Insurance (CeRGI) qualifications. Key features included:

• Dynamically structured knowledge tests, drawn from the ifs question bank, which users can compile from a menu of syllabus areas to suit their individual requirements
• Qualitative feedback at the end of the tests to provide a percentage score and full details of questions answered correctly and incorrectly
• Answers link directly into the study materials so users can focus their revision time prior to sitting the full examination
• Timed mock exams which simulate live ifs examinations in style and format
• Timed synoptic exams based on case studies to help users practice their knowledge in realistic situations
• A percentage score and full details of questions answered correctly and incorrectly are provided at the end of the exam
• Branded user interface and intuitive user navigation to ensure the Competence Development Tools represent a professional image and enable users to easily construct and navigate through the test.

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• Contributed to a three-fold increase in ifs market share for regulatory learning and assessment tools, and helped to increase enrolments for the ifs financial service qualifications
• Strengthened the ifs image as an organisation that satisfies the needs of individual and corporate members - an important achievement prior to re-branding as the ifs School of Finance
• Created a model through which experienced advisers can review and revise their knowledge prior to sitting examinations in a focused and time-efficient way
• Achieved wide ranging recognition from corporate customers who value the fast and simple way of checking competency. This has enabled staff to achieve the required level of knowledge quicker and had the added benefit of being used as a screening tool in the recruitment process.

“The Competence Development Tools have been a major and essential part of our added value service. Their growing popularity has significantly helped increase our revenue.

Bourne has a very in-depth understanding of the fast moving industry we serve. In this respect they always deliver by deadline - we have found them to be reliable and responsive to our needs.”

Mark Roberts, Head of Faculty, Financial Regulation, ifs

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