September 23, 2024

The trend that regulators expand their reach continues – we earlier mentioned that in Singapore, the UK, Australia and other countries, sectors beyond traditional banks come under scrutiny of regulators. That makes sense because criminals will always try to find the weakest link to get access to the financial system. That’s why neo- and pure digital banks, the gambling and gaming industry and even football clubs need to adhere to AML/CFT regulations.

That will imply even more need for awareness; a development we of course welcome since we hope and expect this will have a positive effect on the demand for our courses.

Developments in the market

In the market we see many developments, mostly driven by the adoption of Artificial Intelligence, which helps with translations, research and design of training material. I write it ‘helps’, because it doesn’t take over and it’s by far not completely correct in most instances. An expert look (like ours) is still necessary for a long time to come.

We also see LMS providers starting to produce content, providers of authoring tools to produce content and some developments where providers of Learning Management Systems and providers of Authoring Tools become more integrated.

More and more portals come up as well – imitating the likes of Go1 – but we’re not convinced these will truly dominate the market of online compliance learning for the following reasons:

  • in financial crime compliance it’s of the essence all content is relevant, adequate and completely in line with regulations – an expert review and thorough quality assurance are therefore indispensable;
  • courses on portals are usually as is and off-the-shelf as opposed to the courses that we provide, which are always up to date, with a guaranteed quality and – most important of all – customisable to the learning requirements of the organisation.

Developments in our portfolio

Of course, we cannot ignore these external developments so we’re working hard along a few lines to update our services and courses.

First, we’re developing a few new modules: a module on money laundering in relation to real estate transactions and a module on transaction monitoring, focused on the role of all staff involved in client contact and client relations.

As for our existing courses we’re refurbishing and updating quite a few of them, adding in more interaction, voice-overs and video. Using new technology, several of our modules will – in addition to the page-based format you’re used to – become available in a more mobile friendly, scrolling look-and-feel as well.

On top of that we’ll be delivering several modules in languages like Spanish, German and French and maybe Portuguese and Italian will follow.

Finally, our core knowledge and body of expertise remains in financial crime compliance, that will not change, that is one of our unique selling propositions. But some of our clients ask us for e-learnings on human resources, workplace behaviour, project management, you name it. We have always welcomed these enquiries and often could accommodate these requirements from our clients on our own or with the help of our partners. Going forward we will have an even broader range of topics on the shelf – we’ll keep you posted.

Key points
We don’t want to brag too much but allow us to mention a few things we’re proud of that set us apart from the competition:

  • all courses are available in non-jurisdictional form and can be tailored to any country or jurisdiction;
  • all courses can be translated into any language;
  • all courses can be customised to the requirements and look-and-feel of the customer;
  • courses can be hosted on the i-KYC Academy or a dedicated LMS environment for the customer.

We always define training objectives with the customer and if learning needs are not completely clear we can do a Training Needs Assessment using our own methodology and tooling.
Due to our experience and agility our courses can be amended and deployed within weeks. If you want to know more? Visit our website www.i-kyc.com or mail us at info@www.i-kyc.com