Professional Certificate in Banking in a Digital Age

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1 Professional Certificate in Banking in a Digital Age

2 Who we are The Institute of Banking is the largest professional institute in Ireland. We are a community of 35,000 members who work in banking and in both international and local financial services in the Republic of Ireland and Northern Ireland. Professional development of our members through education is at the heart of what we do. We are a not-for-profit organisation. The Institute provides university level banking education programmes and related services. These enable our members to achieve and sustain their professional qualifications and continuing professional development essential in meeting customer and regulatory expectations. More than 10,000 of our members studied with us last year and we have over 20,000 CPD members. Excellence in education A recognised college of UCD As a recognised college of University College Dublin (UCD) and the standout banking industry educator, we offer qualifications of the highest standard. We currently have more than 30 programmes ranging from Professional Certificates (level 7 on the National Framework of Qualifications (NFQ)) to Masters Degree (level 9). We design our programmes to be practical and relevant, but grounded in academic rigour. We focus on providing innovative and flexible education options to ensure that we meet the changing needs of our members. All our programmes are part-time. Contact us We are delighted to hear from current or prospective members, or from anyone interested in the work of our Institute. Please contact us and we will help you in any way we can. Professional MSc in Banking Certificate in Banking in a Digital Age Who we are

3 Introduction When we look back in history to the years 2010 to 2020, it is likely we will identify this period as the most significant shift in banking to occur since the Middle Ages Brett King Breaking Banks The Innovators, Rogues and Strategists Rebooting Banking We live in a world of technological change. Digital technologies permeate every aspect of our lives, affecting how we communicate, find and provide information, form and build customer relationships, trade and purchase goods and critically how we bank. In today s internet of things, customers are leading the revolution because of their changing behaviours in the digital environment, transforming the way we do things. For banks and financial services firms, there is both opportunity and threat. Banks are facing new challenges as they adapt their business models to meet these needs and new customer behaviours. New non-traditional competitors, who are leaders in the digital environment, have entered the market and are coming up with innovations in banking and the customer experience. Banks and financial services firms not only have to rethink their customer proposition but develop a new business model that will require their staff to have new skills and capabilities in order to understand their customers needs and deliver a compelling customer experience in the digital environment. And to meet and beat the new competition. Today s banking customers expect more than access to a range of products and services; they also demand a superior customer experience that helps them reach decisions in their daily commercial lives. Research points to the fact that the customer experience is one of the most common reasons that customers leave or stay with their bank; more so than fees or interest rates. The real challenge is not about making existing banking products and services available in mobile or digital form but about how banks can reinvent themselves to be part of this new digital age forming much closer relationships with customers. The aim is to become an everyday bank that interacts on a daily basis with customers. Financial Times Banking at a Digital Crossroads 28 January 2014 The Professional Certificate in Banking in a Digital Age is an exciting new programme that The Institute of Banking has developed following consultation with the banking and financial services industry. It is a level 8 academic award from UCD. The Professional Certificate in Banking in a Digital Age provides an overview of digital technologies in financial services. It explores business strategy in a digital age. It deals with governance and ethics, including ethical frameworks, security and privacy. There is a strong emphasis on customer intimacy and on the management and measurement of the customer experience in the digital environment. The programme also explores how to build and foster profitable customer relationships through a trust-based approach. Professional Certificate in Banking in a Digital Age Introduction 01

4 Professional Certificate in Banking in a Digital Age WHO IS THIS PROGRAMME FOR? The programme is highly relevant for: Senior and middle management in banks and financial services firms who have responsibility for business strategy, product and service development, product management, marketing, data management, business intelligence, customer service and distribution channels Senior and middle management who have responsibility for information technology Staff in banks and financial services firms who are involved in the delivery of products and services and in working with customers through omni-channels. BENEFITS FOR YOU AND YOUR ORGANISATION On successful completion of this programme, you will be able to: Discuss the range of digital technologies associated with emerging customer preferences in financial services and the opportunities to deliver customer value and improve performance Understand the role of digital systems in banking strategy and competitiveness, building on existing core strengths Understand the key management issues relating to the delivery of a compelling customer experience and developing closer customer relationships in the new digital age Apply lessons learned from other industries to financial services organisations Critically reflect upon your own professional role and contribution to your organisation, in the context of the application of digital technologies and systems Explain what is meant by customer experience management from a services perspective and demonstrate an understanding of the customer relationship cycle Demonstrate an understanding of changing customer expectations and behaviours in the digital age Understand the loyalty ladder, customer portfolio management and other key elements of building customer trust and loyalty Discuss the ethical conduct underpinning interactions with customers in a digital environment Consider what the future might hold in terms of further technological developments and in creating new value propositions for customers. AWARD When you successfully complete this programme you will be awarded the Professional Certificate in Banking in a Digital Age (level 8) from University College Dublin. PROFESSIONAL DESIGNATION The two modules that comprise this programme are also on the pathway to completing the Professional Banker designation. Professional Banker is a prestigious professional designation awarded by The Institute of Banking. Professional Bankers are recognised for their knowledge and proficiency in banking. 02 Professional Certificate in Banking in a Digital Age Programme Details

5 Curriculum CURRICULUM You study two modules for the Professional Certificate in Banking in a Digital Age: Banking in a Digital Age Customer Experience Management 01 BANKING IN A DIGITAL AGE (NFQ Level 8, 10 ECTS) Digital technologies and related customer behaviours are transforming the way banks and financial institutions operate and how they deliver products and services to customers. This module, through its use of case studies and seminars, addresses the critical role of these technologies in meeting customers needs and expectations. It explores the changes to the customer proposition in the digital age, including delivery in an omni-channel environment. It applies lessons from other industry sectors and addresses the role of digital systems in banking strategy and competitiveness, building on existing core strengths. 02 CUSTOMER EXPERIENCE MANAGEMENT (NFQ Level 8, 5 ECTS) This module provides an introduction to Customer Experience Management (CEM) within the context of the financial services sector. It provides an understanding of CEM best practices and how they apply to each stage of the Customer Relationship Management (CRM) process. It describes the loyalty ladder, customer portfolio management and other elements essential to building customer trust and loyalty. The module introduces participants to a range of practical tools for better understanding customers and their changing requirements. It addresses ethical conduct underpinning interactions with customers in a digital environment. It also considers future technological developments and the opportunities for creating new value propositions for customers. Professional Certificate in Banking in a Digital Age Curriculum 03

6 Further Information ENTRY REQUIREMENTS Entry to this programme requires that you have: - A 30 ECTS credit award/awards at level 7 e.g. the Professional Diploma in Financial Advice (QFA), or - A degree in business or a relevant cognate discipline Applicants should also have three years work experience in business or financial services. PROFESSIONAL BODY MEMBERSHIP You must be a current member of The Institute of Banking, or become a member, to register for this programme. Membership is currently c40 per calendar year. DELIVERY This is a blended learning programme made up of online delivery and face-to-face lectures. It will be delivered over a 15 week period commencing in January Each module will involve a number of different elements including recorded lectures, workshops, self-directed reading, case studies and online exercises. DURATION Both modules commence in January 2015, leading to exams in May Modules will be delivered again from May 2015, leading to exams in September Professional Certificate in Banking in a Digital Age Further Information

7 ASSESSMENT Assessment is a combination of continuous assessment and end-of-semester written exams. Assessment weighting For the module Banking in a Digital Age Continuous assessment 50% of total mark Written exam 50% of total mark For the module Customer Experience Management: Continuous assessment 40% of total mark Written exam 60% of total mark The overall pass mark for each module is 40% in line with UCD academic policy. FEES Banking in a Digital Age module: c495 Customer Experience Management module: c475 SEMESTER START AND CLOSING DATES May 2015 Exams Semester Start Date Closing Date 26 January January 2015 September 2015 Exams Semester Start Date Closing Date 25 May May 2015 INTERESTED? NEXT STEPS For further information on this programme visit or you can contact: Rosemary Deneher BBS MSc Programme Director E: rosemary.deneher@iob.ie T: +353 (1) Please note that there is a core text required for each module. Please contact the Institute for further information. SUBMISSION OF APPLICATIONS To apply, download the application/registration form online at and return to: Registrations Team The Institute of Banking IFSC 1 North Wall Quay Dublin 1 Professional Certificate in Banking in a Digital Age Further Information 05

8 The Institute of Banking IFSC, 1 North Wall Quay Dublin 1 P: +353 (0) E: info@iob.ie W: