Imagine you are bank which needs to train its employees about how to handle sensitive customer data without causing any real-life impact. How will you train them and assess whether the training has been successful or not? Online simulation. You can create virtual customers and cloned data to train your employees without actually using real data. The immersive process of simulations has shown better learning results, which is crucial for the financial services sector.
Using ‘what-if’ scenarios you can teach your employees to take better decisions in asset or liability management, capital planning, gap analysis, accounting and taxes, marketing and resource allocation, forecasting and planning, economics, the pricing of bank services – in short, running an entire virtual bank.
By getting the learner to implement their training, online simulation allows you to assess whether the learner has truly been able to imbibe the training in a virtual, controlled situation. This makes the process of training and application of the same risk free and the feedback is organic.
Add to this the cost you are saving by avoiding classroom training, mitigating risk and dodging fines for non-compliance, you might just have gotten introduced to one of the best learning strategies to adopt.
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