Do your sales or banking practice professionals:
- Understand the intricacies of banking?
- Possess the financial acumen needed to talk to banking clients?
- Know your banking clients’ strategies and goals?
- Position your solutions strategically by highlighting financial outcomes?
A business simulation is the best way to get your team together, help them understand challenges and opportunities in banking, build stronger client relationships and have a great learning experience.
Josh Bersin, HR Industry Analyst notes,
“In today’s ever-changing world, it is hard to provide training that makes a real impact.”
“…business simulations are so popular and provide an engaging experience that encourages learners to apply their knowledge in their job profile.”
“Learners retain only 5 percent of what they hear and 10 percent of what they read, but they remember more than 50 percent of what they learn through discussion and interaction.“
Simulations Emphasize the Big Picture
Banking is getting more and more complex every day. Many sales, audit and consulting professionals do not understand how their banking clients:
- Make money and are impacted by the economy.
- Identify and manage risks.
- Evaluate opportunities for revenue growth and expense management.
- Invest in new technologies and measure the bottom-line impact of technology investments.
Our clients provide feedback that offers insight into how a simulation experience improves understanding of these complex topics:
“ I now know how to think like a bank executive, see the big picture and understand how the market impacts a bank’s business. Gave me a view into how my clients think and measure success.” –PSI Executive Banking Suite Simulation participant, Major Consulting Firm
“I learned an incredible amount about how a bank operates, pressures facing the executive team, and I can finally read an income statement. Linked how all decisions affect the bottom line.” –PSI Executive Banking Suite Simulation participant, Large Tech Provider
“The experience triggered discussion and interaction like few learning experiences I’ve seen in 25 years in the field. The course had a positive lingering effect and ‘stickiness’ that is nearly unmatched. Past attendees commonly recalled and relied upon the Simulation experience 5 or even 10 years after.” -Director of Banking Industry, Large Consulting Firm
Bank LOBs Are Not All the Same
Your professionals may understand retail banking but most likely know little about commercial banking, investment management or asset-liability management.
A simulation that encompasses a full-service institution can enhance your professionals’ knowledge about how each line of business makes money, measures performance and works in tandem to achieve strategic goals.
Simulations Allow Learners to “Walk in the Shoes” of their Banking Clients
In the past, bank simulations were reserved for mid-to-upper-level executives at expensive banking schools. Today, simulations are affordable and easy to implement in a virtual or live environment. They also foster opportunities to hear from your organization’s senior leadership about the disrupters and opportunities in banking today.
As you navigate the challenges associated with developing your professionals during Covid-19, virtual business simulations provide an immersive learning experience that will accelerate their development and effectiveness.
A tailored banking simulation provides your professionals with an experience that mimics how their client institutions work. Simulations ensure your professionals can:
- Contribute to their client’s success through a greater appreciation of the big picture and how C-level business decisions are made.
- Improve their ability to make recommendations in banking terms that align with their client’s strategic goals.
- Prepare for the “real-world” realities in banking.
- Recognize the importance of learning their client’s strategy and competition.
- Expand their internal network by teaming with employees and management across your organization.
Great Opportunity to Build Your Teams’ Banking IQ
We have seen first-hand how providing a dynamic simulation experience can be an excellent opportunity for your professionals to advance their banking knowledge and build long-lasting client relationships. Simulations provide:
- An effective, competitive team-building opportunity for your professionals.
- Allow senior leadership to address:
- Challenges your client’s face.
- How to strategically position your solutions.
- How your organization’s banking strategy aligns with client needs.
Teach your professionals what they should already know about their banking clients.
Contact PSI for your free Executive Suite Simulation demo today.
About the Authors
Chris Lawton, a founding partner at Performance Solutions International (PSI) has been providing training and consulting services to various industries and clients for the last 29 years (after a career in public accounting).
Howard Stein, a founding partner at Performance Solutions International (PSI) has been working with leading technology providers for 30+ years to determine their industry training and enablement requirements.
Performance Solutions International
PSI is the leading provider of industry-focused training, custom learning solutions, and learning consulting services to empower your professionals with the knowledge, skills, and tools they need to succeed in today’s highly competitive environment.