It all started in December 2017 with a GDPR course. Since then more than 900 participants joined our 70 types of banking and finance related training courses that cover a large portion of the financial profession and use a high profile methodology. Our authority training and National Qualifications Register (OKJ) courses helped the personal development and career of 1,200 professionals working in the banking and financial sector, while 6,000 professionals took part in our e-learning courses that use the latest technology. Cutting-edge tools and environment; practice-oriented and edutainment-based teaching methods; modern financial knowledge; excellent instructors from the market, from the universities and from MNB. Budapest Institute of Banking (BIB) has provided access to all these for those who took part in its courses during the last 12 months, with the possibility of networking with the more than 100 lecturers.
Budapest Institute of Banking opened exactly a year ago with a GDPR related course at one of the most modern training venues of Hungary equipped with the latest technology. BIB was created by founder MNB (the Central Bank of Hungary) and Budapest Stock Exchange (BSE) with the joint decision last autumn that in order to modernise the adult education and examination system of the banking and financial fields a new centre of education has to be established. The new concept was justified by the challenges the sector must face (complex regulatory requirements for market stability, digitalisation and the need for higher competitiveness). The developments of the first year confirm the objectives of the founders.
Modern knowledge, practice-oriented methods
Covering the entire operational range of the banking, financial, and insurance sector, the courses grant the opportunity to participants, from experts to top managers, to gain cutting-edge knowledge and to discover professional development opportunities. Our banking and financial courses cover a wide range of topics of the banking system and its related fields. Our mission is to share solutions to the latest economic and financial problems and to show supervisory aspects to promote the single interpretation of law, and to support the members of the financial system with best practices. Some of our banking and financial trainings are also available now as an e-learning course.
Starting from Autumn 2017 BIB administers the preparation courses and examinations required for the stock market certification exam and the qualifying exams for futures, options and securities administrators. Our aim is to give a solid foundation to young brokers’ knowledge, and to contribute to the constant upgrading of previously acquired specialist skills. Our authority training courses are created to help the professional development of financial service intermediaries who play an important role in the financial system and who meet clients face to face. Our practice-oriented and experience-based learning methodology facilitates the understanding and mastering of the course material so that ultimately the acquired information is efficiently used. Our courses granting nationally recognised qualifications provide the essential financial knowledge to fill positions listed in regulations and in the National Qualifications Register (OKJ). Furthermore, we provide tailor-made corporate courses to serve institutional training needs, where high quality service provision comes just as natural as it is guaranteed with the other training sessions of ours.
Education and learning theory tells us, that learning will bring better result if the process of learning itself can be transformed into easily recallable memories. The tools of edutainment form an integral part of the teaching methodology of BIB. We believe that if the new ideas acquired through the process of learning can be connected to relevant experiences, they can greatly contribute to the internalization of knowledge and the future retrieval of pertinent memories. Edutainment is an integral part of the methodology of BIB and we use these tools in all of our banking and financial courses.
First-hand knowledge from market and authority experts
We aim to win the top lecturers from the field to our courses. Current topics of banking and finance are covered by the experts of market leading companies and university lecturers, while authority aspects are discussed by the leading experts of MNB who are ready to answer questions. Our courses are accompanied by professional events presenting special guests – Prima Primissima and Széchenyi-award laureate and member of the American and Hungarian academies of science, psychologist Mihály Csíkszentmihályi was the guest of the first BIB Talks event that brought together almost one hundred business leaders from the financial sector.
International courses, excellent satisfaction survey results
The majority of our training portfolio is aimed at Hungarian participants with Hungarian language courses. However, 10% of our more than 70 banking and financial courses have already been held in English. Our mid-term plan is to become a regional training centre of special courses. A fine example of this is the joint international conference of EBRD, BIB and Euromoney Learning Solutions where 25 financial professionals from ten countries learnt about the latest solutions of cleaning banks’ balance sheets and managing and restructuring NPLs with the help of leading market experts. Another example is the regional Treasury Management International (TMI) conference organized in Budapest during the Autumn of 2018 that was opened with a joint workshop on the financial models supporting treasury efficiency.
In the first full academic year of 2017–2018 we have more than 100 lecturers, nearly 900 students registered for our established banking and financial courses and the excellent satisfaction survey results (an average over nine points on a scale of ten) confirm the success of our educational goals. In September 2018 BIB stockbroker training started with a higher number of participants compared to previous years, and the number of financial institution employees with direct customer contacts enrolled to authority trainings and National Qualifications Register (OKJ) courses is also increasing. The e-learning format using the latest technology is exceptionally popular – this format is fully adapted to the schedule of the students and currently more than 6,000 employees of different financial institutions are participating in our e-learning courses to gain cutting-edge knowledge.
The professional programme of Budapest Institute of Banking is supported by an international board of advisors. Hungarian board members of BIB are chief officers of MNB (the Central Bank of Hungary) and the Budapest Stock Exchange. Besides them Hans Lindberg, Managing Director of Swedish Bankers´ Association, Jai Arya Head of Executive Education at National University of Singapore Business School, Michael Feeney, former Managing Director of Banking Ireland, and Philip Middleton, Deputy Chairman of the Official Monetary and Financial Institutions Forum, former partner of the London Office of EY help Budapest Institute of Banking as advisors.
We are grateful for the trust of our students, lecturers and partners; we will continue with the same enthusiasm in the new year!
The Budapest Institute of Banking team