Page 26 - BANKING FINANCE MARCH 2024

ARTICLE

LEARNING AND

DEVELOPMENT

DEPARTMENT IN

BANKING: A KEY TO

BUILD KNOWLEDGEABLE

HUMAN CAPITAL FOR

BANK

B anking is one of the most evolving sectors in the evolving sectors, banking requires continuous upskilling and
world, and it is evolving in very fast pace with
adaptation to remain competitive. Learning and
changing environment and requirement of the
development initiatives help employees to acquire technical
customers. Earlier banking operations used to be
analytics, and artificial intelligence. These skills enable
a product centric which has changed in customer centricity skills related to digital banking platforms, cybersecurity, data
nowadays. It has changed from manual banking to employees to leverage technology effectively, streamline
technology-driven banking which requires a lot of training processes, and provide innovative solutions to customers and
for its employees to make them capable of doing they get the best experience in bank while transacting.
technological banking. It is one of the biggest challenges for
a bank to train all his employees with the latest technologies In the ambitious project of Government of India under EASE
and changes, thus the role of a robust Learning and (Enhanced Access and Service Excellence) agenda to reform
Development Department comes in picture in the banking Public Sector banks, a significant weightage is given to
that takes care of all the required upskilling of its existing Learning and Development of staffs. It is the need of the
as well as new employees. hour to develop the human capital in banking, so that they
have better succession planning in future and they do not
Learning and development play a crucial role in the banking find any generation gap in banking especially in Public Sector
industry. As it is one of the most dynamic and rapidly banks.

Learning and development in banking refers to the
systematic process of acquiring knowledge, skills, and
competencies that are relevant to the banking industry. It
involves creating opportunities for employees to enhance
their capabilities, stay updated with industry trends, and

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