Case Studies
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Westpac Lending Origination And Navigation Simulation (L.O.A.N.S.)
An Award-winning Software Simulation Developed for a Multinational Bank
An unconventional award-winning eLearning solution that blends scenario-based learning with software training.
The Client
A leading multinational bank and financial services provider headquartered in Australia. The organization offers personal, business and corporate banking services to the clients. The company’s services range from basic banking services such as bank accounts, credit cards and loans to specialized services such as financial planning, stock trading, insurance, merchant finance and international trade.
The Requirement
For its loans division, the client uses a custom-developed software to capture customer data and process the loans. This software records data, analyzes the inputs and recommends whether the loan can be approved or not. While the employees were trained on using this software and were working with it on a daily basis, errors were creeping into the system. An internal audit revealed the following areas for improvement:
- Accuracy in data entry
- Process accuracy in terms of using the software
- Customer interaction skills
As these errors were impacting the business, the client decided to look for a training intervention that would address all the areas for improvement. That’s where SKILLDOM stepped in.
The Challenge
- Understanding the software thoroughly: Detailed walkthroughs were conducted for this
- Analyzing the client’s home loan process
- Understanding the profile of customers opting for home loans
- Analyzing the level of employees’ existing skills in using the software and while interacting with the customers
The Solution
- Customer Interaction Scenarios: The scenario featured a customer with the learners playing the home loan officer’s role. The learners controlled the conversation, as they had to make choices on what the banker would say at various stages in the conversation. The conversation was based on how the customer interaction happened in real-life, thus providing learners an opportunity to see how customers react to what they say and accordingly improve their skills.
- Software Simulation: The software simulation was highly customized to guide learners for each click and each typing action. This was important because every error could affect the bank negatively. Depending on the learner’s choices, the simulation branched into multiple paths as well. At the back-end, the simulation was scored on four parameters:
| Scoring Parameter | Evaluation |
|---|---|
| Process Accuracy | |
| Data Accuracy | Learners were required to meet the set criteria to complete the course successfully. |
| Customer Interaction | |
| Speed | Learner’s performance was rated based on the time taken to complete the simulation. |
The Impact
Since the deployment of the course, fewer errors have been reported in the data entered by the bankers. Also, more positive feedback is being received from the customers regarding their experience with the loan application process. Here’s what the stakeholders had to say, “The eLearning solution provided by SKILLDOM not only meets our requirements effectively but also delivers a great learning experience to the end-users.”
The client highly appreciated:
- The combination of software simulation and scenario-based learning
- Rich graphics and innovative customer simulation strategies
- The relevance of the eLearning program to real-life operations of the organization
SKILLDOM is thrilled to have been able to help the client achieve the above benefits. The fact that this solution was chosen in the LearnX 2014 for the PLATINUM award in the Game/Simulation category is an icing on the cake!
Key Features
Award-winning Solution
Software Training
Scenario-based Learning
Custom Learning
Areas Covered
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