Online Banking Courses The Way Forward

20 Jul, 2020 Manoj Nadkarni

The Novel Corona Virus has globally impacted all spheres of life including education. Educators and students around the world are feeling the extraordinary ripple effect as schools and colleges have been shut down amid the public health emergency. This not only has affected the learning process in the education institutions but also affected the employee learning and development process in the corporate world amid the nationwide lockouts declared by various countries.

However even before this crises Harvard Business School professor, Clayton Christensen, predicted that half of all traditional colleges won't exist in 10 years because online education will undermine their business models to such a degree that many won't survive. Online schools allow students to study and pursue their academic goals without having to be physical present in a campus. This mode of education is more convenient, affordable, and effective.Some of the advantages are:

1.       Study from anywhere, at any time

2.      Review lectures instantly / multiple times

3.      Less intimidating

4.      More time to think and assimilate

5.      Group communication (foster virtual communication and allow students to work with team members via email, chats etc.)

6.      Flexible learning schedule 

7.      Cost (saving on commuting and campus based fees)

8.     Diversity (No limitation of teachers being close to home). Instructor availability not a constraint.

The benefits that may accrue from employee online learning methods are multifold in the Corporate World too. More and more corporates are moving towards online courses. A number of banks have introduced online banking courses developed by professionalsfor its employees. The benefits that would accrue to a corporates taking banking industryas an example can be summarized below;


  1. Advantage to Students aspiring for a career in banking:

A Student who is pursing his studies during graduation may aspire for a banking career on completion of his graduation. The education curriculum may cover banking subjects, however, for gaining a true incite in the working of the bank he would require knowledge from professional experts.  This would help him to be job ready once he is graduated in the subjects of his choice.  This is where online banking courses would be helpful.

  1. Benefits to Corporates

Banks spend a considerable time and cost in hiring employees and training them in the products and intricacies involved with respect to various regulations and operations. If the candidate has already completed the online banking course conducted by banking professionals, he or she is a readily employable / productive candidate.

Online banking courses are also very useful for training existing employees before taking higher responsibilities or on transfer between departments, which is very common in banks. Before taking added responsibilities or for working in a new area in the vast sphere of banking, the online banking course by professionals would be handy to comprehend the various intricacies involved in the new assignment.

  • Benefit to the General public:

Banking touches the life of every individual and hence basic knowledge of banking is an imperative requirement for every individual whether it a housewife or a businessmen or salaried individual or a student. The need for saving, investment and finance is all encompassing. This online banking course would certainly help them in making informed decisions in life.

There are quite a few online courses available, however, consideration should be given to the following points before deciding on the course

  1. Whether the course contents cover the requirement
  2. Whether professionals having a good amount of experience in the relevant fields are imparting the course
  3. Whether the online education site has a tie up with various institutions for providing job opportunities (in case of students aspiring for career in the relevant field)
  4. Whether the cost of the course is reasonable.

Make the best during the lockdown period. God Bless! Be safe!