Tech firm turns compliance training into a game

THE prospect of a compliance training session is not something that would fuel excitement in the heart of most finance workers...

But a Jersey-based tech firm, working alongside the School of International Financial Services, has built a new ‘gamified’ app-style digital training programme – the first of its kind – which it believes will bring more fun into proceedings.

Alca, an artificial intelligence firm in the financial crime prevention sector, says that its interactive programme, in which a learner corresponds with cartoon-style characters, can boost the attention span of users while they learn to identify money-laundering risks in the finance sector.

A statement released by the firm says that training is case-study based and ‘immerses’ learners in a gamified and virtual fund-administration business.

It says: ‘Learners take on the role of a new joiner who conducts due diligence on a fund the firm has taken on. The learner will interact with colleagues, clients, auditors, custodians and ratings agencies and develop experience in detecting red-flag warnings as the story unfolds.

‘The last five years have seen a sharp increase in the shift to digital learning solutions, a move that has been driven in large part by the Covid-19 pandemic.

‘The development of “gamified solutions” has delivered on this demand, introducing the features of an online game, which drives interaction and extended attention span, and combining it with education delivery.

‘This is the first time an offering of this type has been created for the funds industry and offshore markets.’

Sebastian Hurubaru and François Chesnay, founders of Alca, said that their innovative training programme was a ‘fresh approach compliance training that improves learner engagement’.

‘Learning by playing through case studies develops real practical skills to protect organisations from financial crime and makes compliance training enjoyable,’ they said.

SIFS director Andrew Horbury added: ‘This is an engaging and immersive way of learning that will change the way that financial services professionals understand risk in the funds industry.

‘Based on a fascinating, fast-paced, and fun case study, this empowers individuals and organisations in the way that training should.

‘The interactivity is hugely refreshing.’

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