Finance sector spending more money on IT training

Financial services firms are spending more on training their IT staff to meet the demands of regulatory compliance, according to training provider Thomson NETg.

Investment in IT training by the finance sector slumped after 2000, but showed signs of recovery in 2005 as employers began to step up IT spending, the company said.

“We are seeing increasing demand for training for large systems – new systems that they are putting in and systems they are already using,” said Dave Parrot, marketing director of Thomson NETg.

Much of the increased training spend has gone on e-learning, which is now used for one-off initiatives as well large IT projects, according to Mike Summers, marketing director of Thomson NETg.

“Customised e-learning has become more affordable,” he said. “Previously, you would only do e-learning for a very large roll-out, but now it can be customised much more easily for specific business.

“The financial sector is attracted to e-learning because you are reducing staff downtime. They tend to hire a higher grade of people who are well motivated and take well to e-learning.”


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