Reskilling to reduce risk in Financial Services

A global financial services company turned skills-based for the fastest solution to retrain employees and mitigate regulatory risks.

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At a glance

To combat financial crime in today's complex regulatory landscape, a leading financial services company needed to reskill employees and ensure they were equipped with the right skills to mitigate risk.

Using SkyHive Enterprise, the company leveraged skills data for its internal workforce and external landscape to steer curriculum and learning content development.

The company increased training completion rates, bolstered its anti-financial crime capabilities, and reduced write-offs and regulatory risks.

A recent global study into anti-financial crime

Only 62% agree that there are sufficiently skilled and trained personnel for anti-financial crime.

Source: ACAMS, Oliver Wyman. A Global Study into Anti-Financial Crime Culture - Have we come far enough?

As perpetrators become more sophisticated, it has become increasingly
important for financial institutions to:

Understand and address financial crime skill gaps to mitigate risk and upskill the current workforce.

Continuously benchmark internal skillsets against the external labor market to hire or retain specialists.

Leverage real time skills data to assign training, bridge gaps, and track progress.

“Developing a long-term strategic plan that creates a legacy for your financial institution starts with retaining top-tier talent who feel appreciated and animated about your company's focused purpose."

– Forbes

Outcomes & ROI

$50m+

Saved from fines by upskilling talent in Anti-Financial Crime best practices.

$3-4m in cost avoidance, with AI technology replacing manual analysis.

Continuous benchmarking and development of key skills.

Increased employee engagement and retention.

Significantly higher efficiency in Learning and Development.

Our Solution & Implementation

SkyHive’s provides advanced skills insights into our client’s internal workforce on an ongoing basis using our external labor market data.

Recent regulatory fines for financial crime

Roughly $6.6B in 2023 fines in the U.S. & EMEA alone

$4.3bn

Binance

$450m

Crown Resorts

$186m

Deutsche Bank

$50m

Bank of Queensland

$24.5m

William Hill

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