Financial institutions have had to find a new way to reach learners. In a lot of cases, in-person training classes have been replaced with compliance training webinars. But does this new vehicle of training make the same impact as in-person training?
7 Benefits of Webinars in Compliance Training Programs
With over 40 years of experience, we’ve pulled together a list of why we believe webinars enhance and keep your compliance training programs engaging and current.
You can attend your training webinar from anywhere you have an internet connection – computer or phone, at home or in the office. Not available when the event is scheduled? No problem! Learners can watch the playback at a time that works best for them.
“Very informative! I will be re-listening to absorb all the great information.”
Kitrina K., Peoples Security Bank & Trust, BankWebinar.com Attendee
2 – Cost-Effective
The total cost of purchasing a compliance training webinar can be lower than hosting an in-person training. ADP reports that training payroll dropped nearly 18%. Financial institutions continue to be asked to do more, with less. Consider the time your trainer invests in preparing the session, travel costs and materials, etc. With OnCourse Learning webinars you pay by the location, not by the person.
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3 – Efficiency
Since your compliance training webinars aren’t restricted to a specific location, learners from all branch locations can attend. Financial institutions can save both time and money when you factor in travel time and cost. Also, with training webinars, capacity can be almost limitless. Trainers no longer have to host multiple training sessions on the same topic to accommodate a larger number of trainees.
4 – Industry Experts
At BankWebinars.com industry experts from all over the country share their expertise and knowledge. Compliance training webinar attendees hear firsthand from industry experts and gurus on targeted, relevant and timely topics.
“Great review of the escrow requirements under Reg Z and RESPA. Carl Pry is so knowledgeable and presents in a way we can understand.”
Melissa K., Minnwest Bank, BankWebinar.com Attendee
5 – Record Keeping
It can be easier to track participation with training webinars. Rather than having paper sign-in sheets on clipboards, which then need to be manually added into your LMS, training webinars track participation digitally. With just a click you can track who attended.
6 – Learner Satisfaction
When done correctly, training webinars are enjoyable, and learners find them engaging. Below are some samples of what we hear from our training webinar attendees:
“Very educational, on a level entry to management can use. Materials were very usable. The 2 hours flew by.”
Merrill P., Ford County State Bank, BankWebinar.com Attendee
7 – Learner Retention
According to GoToWebinar, 95% of trainers say webinars improve training and learning retention. Depending on the streaming platform the webinar is hosted on, presenters have a variety of tools to drive engagement including polls, live chat or handouts. Often webinars have a live Q&A with the industry expert presenter – giving learners the opportunity to learn from the best. On-demand webinars provide learners with the opportunity to re-listen to the information.
Since COVID-19, financial institutions have had to innovate and adapt to how compliance training is executed. Adding webinars to your training mix can keep your employees engaged and compliant.