Impact of certifications in the world of
Banking and Financial Service
Banking and Financial Service
BFSI segment is one of the most popular segments for Indian youths who want to make and shape a fulfilling career for their growth in life. This is on the grounds that the BFSI segment offers great compensation, adequate development openings, and money related advantages. While most banks provide training, when new workforce joins, it is fundamental to have the right knowledge and training to back the decision of the career.
BFSI workforce should be agile and adaptable to create cross-function aptitude to stay at the highest point of their pyramid in their regions of specialization. They have to be a team makers to create trust and confidence among their associates and make a community workplace.
Skill redundancy can be a tough operation a challenge to banking, as lot technological advances incorporating into the stand BFSI task. Bodies Associated with the BFSI sector are making considerable interests in reskilling and upskilling their workforce. There is a dire need to plug the ability gap in the banking arena and improve BFSI workforce capacity as bfsi corporate entities due to the transiting to a profoundly tech-driven ecology.
Soft Skills along with sector specific new tech knowledge, will help the Future workforces which ultimately trying for an enduring profession in the growing BFSI area.
BFSI arena is constantly evolving form manual operation to the use of technological advance. Keeping abreast with latest regulatory as well technological changes will be a big challenge for the employees of BFSI companies. There are many certifications are available for them offered by the various accredited bodies i.e. IIBF, NISM, NCFM etc. Apart from them there are some universities are offering specialized programs i.e. MBA, PGDBM Certificate course etc. for the aspirant looking for the career opportunities in BFSI sector.
These certifications, in nature, provide the basics as well specialize knowledge to the new comers as well the experienced professional already employed in BFSI sector.
These certifications plays a big role in honing the knowledge and skill of the aspirants and the existing work force. For the aspirants, they provide basic knowledge of BFSI sectors operation and the rules implemented and governed by the regulator i.e. RBI, SEBI, and IRDA etc. for day to day working. Certifications available to existing experienced workforce, helps them to increase their skill sets and grow in their future career prospects. IIBF, an autonomous body, offer various certification for aspirants i.e. Diploma in Banking and Finance and specialized certification for example Certification in AML, Debt Recovery, Treasury management and more help in honing their skills in getting promotion & getting senior positions within the organization as well outside the organizations. These certifications also help them in moving or applying from division /department to another department of their choice or interest.
As banks are adopting new technology rapidly in the segments of the customer research i.e. Data analyst, artificial intelligence etc. to understand the customer need and want to offer more satisfying and rewarding relationship to the customers. Certifications in area of data analysis, AI, IOT, Block chain etc., can help the aspirants to get the job in the research departments of the bank as well the existing work force of normal retail banking and other departments to move to lucrative career in the research wings of the banks.
In the Last but not the least, certifications in BFSI industry plays a significant role for the organization to get skilled workforce which can be put on the job from the first day of joining as well existing workforce can upgrade their knowledge to bring lot of changes for the good within the BFSI sector. A team of the knowledgeable and trained workforce can bring wonders in customer service and bring good name and profitable business to banks kitty. BFSI workforce should undergo periodic knowledge enhancement to enhance their skill sets as well stay updated about new rules, regulations, procedures, product, and policies to provide error free services to public with help of various certifications available to them.
Garnering the adequate knowledge set through professional certifications in Banking, Insurance and Financial services (BFSI) lays the founding stone for a successful BFSI career.