Financial institutions are spending more on training than ever. And a large portion of that budget is on compliance. Some 75% of FIs say compliance is the primary goal of training, according to SaferMobility. As financial institutions pour money into achieving that goal, however, they have less budget and less focus on strategic content.

There’s a danger in treating content like a forgotten wind-up toy trailing behind the company’s goals. After all, content is crucial for everything that drives revenue, encourages digital adoption, and keeps your frontline staff up to date with training materials.

Rather than being properly planned and managed, however, content often is hastily wound up and ignored.

There are several risks that financial institutions take when they ignore content.

The Danger of Treating Content Like an Afterthought

When content is produced in-house at breakneck speed, financial institutions suffer on multiple levels.

A false sense of security

Static content only pleases an auditor.

Your staff may have torn through the compliance-related content but may not have retained any knowledge. Without actively updating and keeping the content engaging, you run the risk of having essential policy and regulatory information slip through the cracks.

“It’s fine!” you tell yourself when you have the fleeting thought that maybe, just maybe, you need to do better with compliance training. “Everything will be OK!”

But will it?

Digital adoption becomes digital atrophy

You’ve bought the best digital banking tools, but your content doesn’t support the learning of such tools. Instead of participating in attention-grabbing, maybe-even-fun walkthroughs, your staff has to figure out the tools on their own or slog through tedious, overwritten manuals.

Digital adoption then is not going to happen. And your frontline staff and customers are going to suffer at the hands of inefficiency.

For example, think of the last tool or core conversion you bought for your company. Was everyone excited about it or were they concerned about how they would be trained on it? Did the excitement die down faster than a candle in a hurricane?

One and done doesn’t work

L&D teams often don’t plan on repurposing the content. Annual reuse rates for training content are around 50%.

So, content at financial institutions then falls into a strange, predictable cycle. Every year, the content team builds out content from scratch; the content is abandoned at year’s end, and the content team builds out content from scratch when the new year begins and so on. Ad nauseam.

What a waste of time and resources! All those hazards could all have easily been avoided with proper planning and processes.

Stop adding to the content crisis, and empower your team with an AI-powered, always-on content engine.

Do You Have a Content Crisis at Your FI?

Is content development taking weeks or even months?
Is content at risk of being outdated by the time it is published or shared?
Is keeping up with regulatory training an administrative nightmare?

Is your team having to build content from scratch every single year?
Is your FI using the content produced the year before? Is it being repurposed?

Smart Ways That Small Teams Can Solve the Content Crisis

If you’ve identified the content crisis in your organization, you’re already halfway to a solution. Now, you just need to replace some of those inefficient, unfocused processes. You want a finely tuned content machine that hits the mark and doesn’t require constant upkeep. It’s possible!

Use micro-learning to replace static compliance training

By shifting the compliance training to a game-based micro-learning, financial institutions offload the hassle and inefficiency of their current training. Staff members can then participate in engaging compliance training that leaves them energized and motivated without downtime.

Leverage ready-made content libraries

Creating the aforementioned content from scratch steals away valuable time from your team. Your content team already has work to be done, so make sure their efforts move your institution forward. By using prebuilt customizable content hubs, like LemonadeLXP’s Learning Library, you can quickly equip your team with the latest information, training, and skills needed to transform your frontline staff into confident advisors.

Automate content creation and delivery

Modern learning platforms can serve your financial institution as an always-on content engine. When you use an AI-powered platform, you can rapidly create, maintain, and deliver bite-sized training and real-time support. That includes creating a dedicated knowledge base to train your AI, generating interactive content from PDFs and procedures, and keeping your knowledge base automatically updated whenever policies change.

Swap manual authoring for AI-powered knowledge generation

When a financial institution undergoes a major core conversion or a tech rollout, the content team is usually left scrambling to put together all the documentation, slides, and policy updates.

Those tasks must be done, but they don’t have to be such a drain on your team’s time. AI-driven authoring transforms that process and cuts development time by 80%. Your team gets clear, updated content, and also has time for high-value strategic initiatives.

The Squeeze

Don’t fall into the same content crisis that’s affecting your competitors. Building out fresh content that doesn’t get reused and buying un-customizable generic library content both contribute to the crisis.

Instead, carve out some time to audit your content process and see where you can automate or delegate the creation of content and, more importantly, reinforce knowledge in the flow of work.

Ready to transform your frontline with training that sticks?

Book a Demo!

The Content Crisis: How Small Teams Can Access Industry-Specific Content Without Huge Budgets