Legal & General talk about Minimising Fraud Risk via e-learning

by | Jun 11, 2010 | Evidence for Change, Interviews

As a Financial Services provider, Legal & General is an obvious target for financial crime. They must minimise the risk of fraud by ensuring that their employees are aware of fraud trends, are able to recognise criminal behaviours, methods and activities and know how to report fraudulent activity.

In addition, a core objective of their industry regulator, the Financial Services Authority (FSA), is to minimise the extent to which the financial services industry can be used to facilitate financial crime. It states that the risks and issues of fraud must be addressed and highlighted to employees in the industry.

In 2008 Legal & General radically changed their approach to fraud awareness, moving from the classroom to a creative e-learning solution. In doing so they saved £1.1 million, redefined what effective e-learning was within the company, significantly raised awareness of fraud issues and reduced the risk to the business.

Winner of the bronze award in the ‘Excellence in the Production of Learning Content – Private Sector’ category at the e-learning awards 2009, David Lockett & Kelly Bush from Legal & General talk about how they did it, the reaction and the resulting business benefits.

Although the e-learning team considered other methods, e-learning was the only solution that would meet all of the business needs. This was an exciting proposal. It was their first opportunity to build a module from scratch and to influence every stage of the project, breaking away from traditional templates with text heavy e-learning that Legal & General had been used to. This was their opportunity to produce e-learning that would engage learners, encourage the right attitude and behaviour change and benefit Legal & General from both compliance and business perspectives.

The biggest success has been the significant reduction in training costs. Just comparing the learner “downtime” of the two interventions has shown a saving of £1.1 million, reducing classroom costs of £1.156 million to £55,250 by using e-learning.

As Kelly commented – they wanted to fundamentally change the mindset that for e-learning just think ‘Mandatory = Boring’!

There is also a complimentary case study available for those who’d prefer to read rather than listen!

Featured content

The Coaching Culture Story Revealed by Learner Intelligence

The Coaching Culture Story Revealed by Learner Intelligence

Qantas Airway, the flag carrier airline of Australia, is on a learning transformation journey.  Michelle Ockers, who recently partnered with Towards Maturity as an expert learning analyst, worked with Qantas as an independent strategic advisor in 2017.  She engaged Towards Maturity to help Qantas identify how they could create a modern and engaging learner experience.

Measuring the benefits of your communication and learning & development strategy

Measuring the benefits of your communication and learning & development strategy

Measuring the benefits of L&D and comms initiatives remains a challenge. Just one in eight learning and development professionals1 believe their organization measures the return on investment of learning programmes. Success can be measured either through quantitative measurement or qualitative change, but whatever approach is chosen, effective measurement is vital to ensure L&D and comms strategies are delivering on objectives and attract future investment.

Boost workforce development through microlearning

Boost workforce development through microlearning

Micro-learning delivers learning nuggets in easily digestible, bite-sized chunks. Learners can access micro-learning as they need it, on the job. Industry expert Josh Bersin describes micro-learning as an ‘amazing innovation’, explaining that microlearning platforms now let you manage the proliferation of video, assessment, and other small content objects with tools for curation, tracking, recommendations, and AI-based prescriptive learning”.

New research finds 54% of learning is still being conducted solely in the classroom – but change is needed for formal learning to remain effective

New research finds 54% of learning is still being conducted solely in the classroom – but change is needed for formal learning to remain effective

Towards Maturity delve deeper into the dichotomy L&D are facing between formal learning and the desire for increased accessibility and availability. Supported by ambassadors, Raytheon Professional Services, this brand new In Focus report uncovers new insight into the most effective ways to improve formal learning by exploring what successful organisations are doing differently.

Featured

The Coaching Culture Story Revealed by Learner Intelligence

The Coaching Culture Story Revealed by Learner Intelligence

Qantas Airway, the flag carrier airline of Australia, is on a learning transformation journey.  Michelle Ockers, who recently partnered with Towards Maturity as an expert learning analyst, worked with Qantas as an independent strategic advisor in 2017.  She engaged Towards Maturity to help Qantas identify how they could create a modern and engaging learner experience.

Measuring the benefits of your communication and learning & development strategy

Measuring the benefits of your communication and learning & development strategy

Measuring the benefits of L&D and comms initiatives remains a challenge. Just one in eight learning and development professionals1 believe their organization measures the return on investment of learning programmes. Success can be measured either through quantitative measurement or qualitative change, but whatever approach is chosen, effective measurement is vital to ensure L&D and comms strategies are delivering on objectives and attract future investment.

Boost workforce development through microlearning

Boost workforce development through microlearning

Micro-learning delivers learning nuggets in easily digestible, bite-sized chunks. Learners can access micro-learning as they need it, on the job. Industry expert Josh Bersin describes micro-learning as an ‘amazing innovation’, explaining that microlearning platforms now let you manage the proliferation of video, assessment, and other small content objects with tools for curation, tracking, recommendations, and AI-based prescriptive learning”.

Our Ambassadors

Our Supporters also influence Towards Maturity's Health Check and research, providing insights on future trends and practices that should be investigated.

Pin It on Pinterest