We can definitely appreciate the benefit of early adoption. It’s early adopters that drive the embrace of new ideas in spaces that have remained stagnant for years–even decades. But is all early adoption good early adoption? Fintech was one of the first industries to jump on the eLearning bandwagon, but unfortunately, didn’t necessarily adopt all of the better parts of eLearning. Unfortunately, as a result of the way eLearning was adopted, the industries reputation took some serious damage; damage that we’re still undoing as an eLearning company today.
The Backstory of Fintech eLearning
The financial technology space definitely saw the value in making training more accessible to everyone. The industry, after all, is responsible for advances and innovations like PayPal and Square, but the way it was approached left a lot to be desired.
As innovative as these fintech companies were, their approach to eLearning was anything but helpful. In most cases, the early adoption of eLearning was simply to digitize existing training and put it online. That meant that instead of sitting through boring PowerPoint presentations in a stuffy board room, you were now expected to sit through boring PowerPoint presentations as they were fed through your laptop–in your spare time. Nah.
The result? When the term was tossed around as a viable training solution, the shining examples of financial innovation and tech savvy were complete duds, leading people to believe that eLearning was just another way to deliver the same old training. It made eLearning a hard sell for those who wanted to adopt it in their own industries. It’s not fintech’s fault though. They were just following the suggestions of early, inexperienced eLearning companies. We’ve all come a long way since then.
How Do We Fix It?
As a creative agency focused on digital learning, our team at eLearning Mind seeks to undo the damage. Instead of simply digitizing the same lackluster learning that a company has always used, we completely revamp everything from the delivery method to adding custom graphics, animation, simulations/scenarios, and even games.
We’ll put it into terms that an industry like fintech will appreciate: by the numbers. According to research compiled by the Babson Survey Research Company, 76 percent of those surveyed found lists of procedures and protocol tedious, while 38 percent said they get bored (and frustrated) with courses. Thirty-seven percent of respondents said they hated a slow pace, and 18 percent complained about being forced to take courses on one particular device and not one of their choosing.
When looking at the numbers, it’s clear what earlier companies did wrong. Simply digitizing existing material still forced learners through the same boring content, at the same pace, and likely on the same device. By not taking into consideration roles, individuals, and adaptive technology, an industry known for innovation remained stagnant for years.
We Love Fintech
We really love fintech and the changes it’s making to disrupt one of the oldest industries out there. So we’re here to offer better solutions and address the concerns and complaints most learners have today. Fifty-two percent of learners like decision-making scenarios, while 58 percent ask for learning that is hyper-relevant to their roles, which is why we create learning that helps learners make real-life choices.
Instead of relying on PowerPoint presentations and tedious lists, we use expertise in neuroscience, instructional design, and graphics and animation to create stunning, applicable, and entertaining eLearning that goes engages. We want to do our part to make sure fintech has the best learning to meet the demands of constantly changing tech and industry trends.