What Banks Need To Know About Making The Business Case For IT Training

How can bank CIOs justify the expenses involved in providing training to their employees? It’s all about having the skills that enable the company to make decisions, predict client requirements and profitably manage the business.
May 31, 2013

Align Training With Strategy

Elaine Miller (pictured at right), Financial Services Managing Director, PricewaterhouseCoopers

With regulatory pressure and technological advancements accelerating the pace of change in the industry, IT is emerging as a critical lever to growth, competitive differentiation and risk mitigation. Thus, we find that today's most pressing IT training needs align directly with overarching enterprise priorities, including compliance, big data and digital technology. From a compliance standpoint, embedding a robust, systemic understanding of how to leverage IT capabilities to automate critical processes, monitor liquidity requirements, enhance transparency and the like can substantially reduce risk exposure and streamline expenses. In the vein of cost containment and integration, we are seeing a trend toward consolidation and shared services.

For companies choosing that path, IT training focused on ensuring knowledge capture and transfer is absolutely essential. Additionally, as the digital economy continues to redefine how offerings are developed and delivered, a recent PwC study found that less than 20% of the sector believes their organization has the requisite skills to optimize the potential of mobile platforms. The payoff for investing in IT training and infrastructure is significant. According to our research, organizations that closely link technology and business strategy and promote strong collaboration between the C-suite and the CIO are four times as likely to be top performers.

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