Financial services include retail banking, commercial banking, insurance, tax advisory, and investment management. Financial service companies provide some combination of financing, asset management, risk management, and tax advice to businesses and individuals.

Financial services businesses have faced significant challenges recently due to the global banking crisis. The result has been a marked increase in takeovers and mergers as well as cost-cutting measures to drive efficiencies. Surviving firms are likely to see increased government regulation and new accounting rules to prevent a new round of bank failures.

Training requirements in the financial sector include:

• Employee on-boarding and process training as firms consolidate.
• Systems training as technology is streamlined for efficiency.
• Delivering professional skills training to geographically dispersed learners.
• Compliance training to meet current regulations (e.g., Sarbanes-Oxley, Gramm-Leach-Bliley, and the Fair Credit Reporting Act) as well as future statues.

Together, Cognitive Arts and NIIT, have rich experiences in helping banks, insurance companies, and other financial institutions meet their business objectives. Learn how Cognitive Arts helped Allstate make improvements to its automobile insurance quoting process below.