More than 10,000 frontline bank staff have recently taken the leading professional qualification in retail banking.
Figures released today by the Institute of Financial Services demonstrate a growing commitment to professional qualifications in the retail banking sector, as its Certificate in Retail Banking Conduct of Business (CertRBCB®) becomes the benchmark qualification for customer-facing staff.
Major retail banks have adopted the qualification as a means of enhancing the knowledge and skills of their employees.
The figures are released following the publication of the final report from the Parliamentary Commission Banking Standards, which made wide-ranging proposals on how standards and culture within the UK banking sector could be improved.
CertRBCB is specifically designed to embed detailed knowledge of retail banking products and services, different types of customers and their needs, the principles of customer service excellence and appropriate conduct of business.
Anne Kiem, Chief Executive of the Institute of Financial Services said:
'One of the commission’s lines of enquiry has been around the extent to which those working within the banks are appropriately qualified. These figures show how specialist and relevant professional qualifications are vital for enhancing professionalism and raising standards in the sector.
'However, it’s not just about raising standards. In today’s competitive retail banking sector, with new players entering the market, providing higher levels of customer service will be key in enabling organisations to retain their existing customers and to attract new ones'.
The Institute of Financial ServicesCertificate in Retail Banking Conduct of Business is a QCF Level 3 qualification. It is designed to help UK retail banks embed understanding of the Financial Conduct Authority's (FCA) Retail Banking Conduct of Business and payment services regulations within their organisations.