Further to our article about the FSA’s new banking rules, the ifs School of Finance is set to launch two new specialist qualifications to assist UK retail banks incorporate the FSA’s new framework for conducting retail banking.

The Certificate in Retail Banking Conduct of Business (CertRBCB) and the Diploma in Retail Banking Conduct of Business (DipRBCB) have been designed alongside the new regulatory framework and gives the bank a tool through which they can shown they are meeting the appropriate level of customer service.

Following the credit crunch, banks need to show customers that their staff are competent and knowledgeable in order to rebuild trust and confidence in meeting customers’ needs.

The FSA is imposing stricter regulation, moving away from self-regulation, and will impose harsh penalties for non compliance. The new qualifications show that customers not only meet the requirements but understand and apply them.

The CertRBCB and DipRBCB registrations will be available from October this year with the first exams planned from January 2010. They are aimed at customer-facing employees and team leaders.

The Principal of the ifs School of Finance, Gavin Shreeve commented:

“There is little doubt that meeting the challenge of the new regulatory framework will present a crucial test for the entire industry. The ifs has designed these new qualifications specifically to help retail banks rise to this challenge, and at the same time to grasp the opportunity that it presents to help rebuild battered consumer trust and confidence. This process of rebuilding will begin on the front line, at the point of customers’ interaction with their banks, after all, this is where the majority of customer interaction occurs.”

Dean of Further Education at the ifs School of Finance, Anne Kiem added:

“There is a clear need for a new independent benchmark standard for the conduct of customer facing employees.The ifs has a long standing pedigree in developing benchmark qualifications of this nature, having set the standard for applying the Mortgage Code with its mortgage advice qualification CeMAP and for the FSA’s TCF principle with its Certificate in Regulated Customer Care (CeRCC).”

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