ABCUL Unicorn Partnership Announced
ABCUL - the leading trade association for credit unions in England, Scotland and Wales - is helping its members improve and demonstrate their skills and professionalism thanks to a partnership with financial services training specialists, Unicorn.
With new innovations and opportunities for credit unions, plus the recent arrival of the FCA’s new Senior Managers Regime and Certification Regime, training and evidencing competency is more important than ever.
Credit unions – member-owned providers of savings, loans and a range of financial services for communities and workplaces – serve more than 1.2 million people in Britain and hold over £1.3 billion in assets, and are regulated by both the Bank of England’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). ABCUL (the Association of British Credit Unions Ltd) has therefore launched a comprehensive and innovative new compliance training solution for members to meet the required regulatory standards.
ABCUL Learning Academy is powered by Unicorn’s award-winning Learning Management System (LMS), populated with an extensive compliance eLearning library, which provides credit unions with the means to reduce risk through relevant practical training designed to encourage the right behaviours in staff and directors.
Rosanna Donovan, ABCUL Head of Member Services, believes ABCUL Academy is already transforming how credit unions meet their training needs. “Over the last decade, British credit union membership has doubled and assets have trebled," she says, "so our rapidly expanding sector recognises that we need to meet and demonstrate the highest standards of knowledge and compliance to reassure the growing number of consumers who trust us with their money.”
“As credit unions are governed by volunteer directors and many also have volunteers in operational roles, Unicorn’s LMS and content suite is the perfect solution to allow credit unions to train their people in a way that suits their lives, and to track and demonstrate compliance to their members and regulators.”
ABCUL Academy meets the industry demand for ‘snackable’, just-in-time and role-relevant learning delivered online that embeds core knowledge in line with FCA regulation and heightens awareness of the serious consequences of non-compliance.
New diagnostic tools, Apps and mobile learning, with on and offline syncing, video and role-specific scenarios all create impactful, personalised learning pathways within ABCUL Academy. These instantly connect learners with their day-to-day activities and embed the learning required for firms to meet all the FCA’s regulatory demands.
Simon Mercer, Unicorn Product Manager, continues: “The FCA is challenging firms, credit unions included, to prove their staff or volunteers are competent and compliant, so the evidencing is as critical as the training itself. We are delighted ABCUL has partnered with Unicorn for the solution to support its members.
“ABCUL Academy enables the deployment of content, monitoring, reporting and automatically assigning learning from its content catalogue, CPD, creating role-based pathways and sending email reminders to effectively deliver the right learning. For those who may not need to do a whole course but want a refresher or reminder, highly visual summary module PDFs provide a useful referral tool for key messages.”
In 2016 Unicorn’s learning managment system, was ranked the world’s top LMS for the financial sector for the second successive year, and fourth overall across all sectors, in the Top 50 LMSs Report 2016, compiled by the influential Craig Weiss. For more information about Unicorn’s solution for the financial services sector visit www.unicorntraining.com/complianceserve