Reskilling to reduce risk in Financial Services
A global financial services company turned to skills as 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 needs to reskill employees and ensure its 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 organizational AFC capabilities, and reduced financial crime 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?
Recent regulatory fines and challenging market conditions have forced banking institutions to re-evaluate how they view talent internally.
Understand and address financial crime skill gaps.
Continuously benchmark internal skillsets against the external labor market.
Leverage reskilling insight.
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“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 to adhere to 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
SkyHive’s provides advanced skills insights into our client’s internal workforce on an ongoing basis using our external labor market data. Below is the implementation:
Recent regulatory fines for financial crime
Near $5B in fines in 2022 in the US & EMEA alone:
$140M
USAA FSB Bank
£264m
Credit Suisse
£2.1M
Robecco
$9.9M
888 UK Limited
$6.1M
GHB
$2B
Danske Bank
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Request a demoRelated resources
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SkyHive’s Technological Breakthrough Named Winner in Prestigious Fast Company Award for ‘Next Big Things in Tech’
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SkyHive’s Technological Breakthrough Named Winner in Prestigious Fast Company Award for ‘Next Big Things in Tech’
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SkyHive’s Technological Breakthrough Named Winner in Prestigious Fast Company Award for ‘Next Big Things in Tech’
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SkyHive’s Technological Breakthrough Named Winner in Prestigious Fast Company Award for ‘Next Big Things in Tech’
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