Professional education in modern customer-centric retail banking is the focus of a new joint venture between the International Francophone Institute at Vietnam National University and the London-based Retail Banking Institute (RBI). Launching in Hanoi this month, it will provide Vietnamese retail bankers at all levels with professional education programmes in both the Vietnamese and English languages.
Mass market retail banking is a relatively modern banking field across the world, dating from the 1960s when the ATM and credit card appeared. Despite this, it now accounts for most of banks’ profits.
The Retail Banking Institute’s primary qualification is Certified International Retail Banker (CIRB), which is designed to be the retail banker’s passport to a successful career.
Retail Banking Institute offers three progressive levels of professional education, from a foundation programme to the third level programme designed for management and leadership positions across the different types of retail banking services.
The first level is Affiliate International Retail Banker, the second level is Associate International Retail Banker, and the final level is Certified International Retail Banker.
The Retail Banking Institute is a UK professional body authorised to provide education and research in the field of retail banking by the Department for Business, Enterprise and Regulatory Reform.
The word ‘Institute’ is a protected word in the UK and regulatory approval to be an Institute depends on the organisation being engaged in research, training and education at the highest level for several decades.
In the UK, professional bodies award independent third-party certifications of knowledge in specific industries.
Retail Banking Institute issues its own certifications in retail banking and payments.
Retail Banking Institute works closely with multiple partners in the development and delivery of retail banking programmes worldwide.
The RBI faculty draws on decades of experience in banking and education around the world and the latest research on banking and payments from Lafferty Group. Most of the classes are delivered digitally and are self-paced to suit candidates who are already working in full-time positions.
Michael Lafferty, Chairman of Retail Banking Institute commented: “We are delighted to be working with VNU on this initiative. We see retail banking as the most valuable and profitable sector in banking today. It is fundamental to the future of banks everywhere”.
Dr. Tung Dao of IFI added:
“Retail banking will play a major role in the development of Vietnam. International Francophone Institute (IFI-VNU) is delighted to partner with Retail Banking Institute to bring its Certified International Retail Banker (CIRB) programme to the Vietnamese market”.
Retail Banking Institute is part of Lafferty Group, which has been providing retail banking research and intelligence to the banking industry via newsletters, management reports, and conferences since 1981. It is a former winner of the Queen’s Award for Export Achievement.
Retail banking helps the world’s consumers, small businesses and the better off with their financial needs – from payments and savings and loans to investments. Investors are particularly attracted to the sector, and stock market valuations of retail bank earnings are far higher than those of other banking sectors, not least universal banks.