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Compliance Training Market for Financial Institutions in the US 2019-2023| Introduction of Gamification and Stimulation-Based Compliance Training to Boost Growth| Technavio

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LONDON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/ConsumerDiscretionary?src=hash” target=”_blank”gt;#ConsumerDiscretionarylt;/agt;–The compliance training market for financial institutions in the US is
expected to post a CAGR close to 15% during the period 2019-2023,
according to the latest market research report by Technavio.

A key factor driving the growth of the market is the increasing demand
for customized courses and personalized learning. The demand for
customized courses is increasing, which is driving the growth of the
compliance training market for financial institutions in the US.
Financial institutions in the country have different regulatory
requirements, wherein, the code of conduct, and processes vary among
financial institutions, therefore, off-the-shelf compliance training
courses cannot provide effective learning. Hence, organizations prefer
customized compliance training courses. Moreover, the evolution of the
regulatory landscape also increases the demand for customized courses
from BFSI organizations. The customization of courses enables companies
to include specific policies as well as procedures that are relevant to
financial services. Thus, the customization of courses helps financial
institutions to enhance the skills related to their service requirement.

As per Technavio, the introduction of gamification and stimulation-based
compliance training will have a positive impact on the market and
contribute to its growth significantly over the forecast period. This compliance
training market for financial institutions in the US 2019-2023

research report also analyzes other important trends and market
drivers that will affect market growth over 2019-2023.

Compliance training market for financial
institutions in the US: Introduction of gamification and
stimulation-based compliance training

The introduction of gamification in compliance training for financial
institutions encourages the spirit of achievement, enhances user
engagement, and brings about considerable behavioral changes. Financial
institutions are aligning their gamification strategies with measurable
goals. Gamification and simulations eliminate the barriers associated
with learner engagement. They also motivate employees and enable them to
reach their goals. Although the concepts of gamification and simulations
are not mainstream in the compliance training market financial
institutions in the US, many vendors provide various compliance training
solutions that gamify training activities for financial institutions.
Moreover, the online advanced-featured learning platform also provides
feedback to employees on their learning and progress. Hence, several
financial institutions in the US have incorporated gamification as a key
metric to measure the engagement of employees.

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“Financial institutions in the US are adopting innovative methods to
train their employees in a cost-effective manner. The adoption of
e-learning reduces the time required for training. E-learning is also
convenient to maintain, update. and store information. The demand for
compliance training is also increasing due to the rising adoption of the
BYOD and COPE policies by financial institutions, which enable a
flexible working environment for employees. All these factors are
expected to drive the growth of the compliance training market over the
forecast period,” says a senior analyst at Technavio.

Compliance training market for financial
institutions in the US: Segmentation analysis

This market research report segments the e-learning compliance training
market for financial institutions in the US by delivery model (offline
learning and online learning), by course type (professional courses and
introductory courses).

The offline learning segment led the market in 2018, followed by the
online learning segment. However, during the forecast period, the online
learning segment is expected to register the highest incremental growth
due to the availability of various subscription options and premium
training content.

Looking for more information on this market? Request
a free sample report

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Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

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  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

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If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

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