Give your product distribution channels a head start with animated video training

The new Fit and Proper requirement regulation has presented an opportunity for you to add value for your distribution channel clients and increase sales for your organisation at the same time.  

Providing quality online product specific video training encourages them to sell more of your products than your competitors.  

In taking initiative and helping key individuals and representatives of your distribution channels to easily comply in an onerous compliance environment, your brand is ingrained to be top of mind when they give advice to their clients.  

New Determination of Fit and proper requirements - 1 May 2018  

The Financial Service's Board Notice 194 of 2017 stipulates that in order to comply with the new Determination of Fit and Proper requirements, Discretionary Financial Service Providers must ensure that its key individuals and representatives have completed adequate and appropriate product specific training.  

As of the 1st May 2018, Category I Financial Service Providers, who sell your products, are required to provide product specific training for their new Reps. While this does not affect Category II, IIA, and III Financial Service Providers, you can assist your distribution channel comply with the new Determination of Fit and Proper requirements (BN 194 of 2017). You would be giving your company an advantage over your competitors.  

Changes are coming - staying compliant is no longer a case of ticking the boxes  

In his article, Top compliance tips for a winning 2018, Richard Rattue, Managing Director, of Compli-Serve SA, states that If you still believe that regulatory compliance involves ticking boxes and not much else, you are in for a rude awakening. Principles and outcomes-based theory kick tickbox into touch as we move to a conduct-based regulatory regime, and this will likely translate into major changes in the way that we are required to report to the Regulator. Conduct of business reports, which are already a reality for insurers, are likely to come out into the wider community from 2019.

Video Varsity provides learner management platforms for auditing and evaluation  

One of the requirements of the Financial Service's Board Notice 194 Sec 13 (3) stipulates that this training process must be tested, evaluated and audited.     

Proof of learning must be documented, recorded and easily retrievable. This is best achieved through an authentic Learner Management System.  Video Varsity provides Learner Management Systems and hosting services, which include:  

1. Course content development 
2. Automated online assessments with feedback  
3. Reporting   

Our course content development includes results-driven animated training videos

• Video Varsity has been delivering video learning and Learner Management platforms to large and medium sized Financial Service Providers since 2009 
• We work with subject matter experts to compile quality product specific content
• Animated video is a cost effective method of delivering consistent, engaging learning to large and distant audiences 
• Videos are tailored to your brand and CI standards
• Videos can be watched in the viewer's own time and at their own pace 
• The videos are optimally rendered for any company intranet or Learner Management System  

To get in touch with us to find out how we can help your organisation put together your product specific training and Learner Management System please CLICK HERE.