Today’s financial institutions are facing a competitive talent landscape, and banking leaders need to support their organizations and employees by building critical skills using the latest technology. By addressing skills gaps with VR training, bank employee training programs are increasing productivity, decreasing onboarding time, and enhancing client experiences.
With VR training, financial organizations have standardized and scaled effective learning that employees prefer and remember. VR puts associates in real-world situations to apply what they learn, which increases long-term knowledge retention and boosts confidence to offer memorable experiences for clients.
Webinar: How Bank of America is reskilling for growth with VR
Fraud protection
Fraud is a multi-billion dollar problem. But inconsistent fraud protection training across consumer branches makes it challenging to reinforce with associates. There’s a big difference between reading the steps to detect check fraud, and actually applying those steps under pressure with a real customer. VR training gives cash-handlers that realistic practice, but without the costs of actual fraud. In the headset, they learn the proper detection techniques, then face real customers to apply their learnings. VR fraud detection training for employees gives cash-handlers the confidence to follow the process and address issues effectively on the spot.
ebook
How VR has transformed learning in Financial Services
Today’s financial institutions have a unique opportunity to change the paradigm in how they train and upskill the workforce. Read our ebook to dig into how VR is providing critical benefits that help financial institutions tackle their biggest workforce challenges.
Download NowContact center training
A powerful way to improve customer service in the contact center is to humanize customers on the phone. VR training builds empathy by placing learners into a virtual contact center to help understand the impact of listening and helping customers through real-life scenarios. VR helps bring them to life as more than just a voice on the other end of the line, and helps boost customer satisfaction scores.
Throughout the training, the employee is ‘transported’ between the call center and the customer’s living room to view the environment, facial expressions, and personal perspective.
-VP Emerging Technologies, Leading financial institution
New manager training
Good managers often demonstrate a combination of strong communication skills, adaptability, resilience, coaching, and empathy. Yet, first-time managers often lack experience in one or more of these areas. Practicing these skills with simulated coaching sessions in Virtual Reality can add huge value. At the end of the Virtual Reality management training, learners watch and listen to themselves for self-evaluation, an important tactic for long-term retention of the material and to better assess their impact on other team members.
