How do you equip students with the necessary skills and knowledge to thrive in the dynamic world of Banking and Finance?

Upon completing their graduation, students often face the pressure to secure employment and start earning, particularly in the middle-class and lower middle-class segments. Among all students and their parents, a bank job is highly favored.

They recognize that the banking industry offers stability, respect, and lucrative compensation. However, what they may not realize is that a bank job can be demanding.

While these graduates meet the necessary qualifications to enter the banking sector, they may not possess the professional readiness required to handle the pressures associated with such a position. Presently, bank jobs are highly competitive and challenging.

When entrusted with the responsibility of managing someone else’s finances, the job cannot be easy or comfortable. Consequently, individuals need to possess the appropriate skills and knowledge to thrive in this role.

We offer skill-based training programs in banking to equip these students not only with the ability to secure the right job but also to effectively manage their daily responsibilities at work. Through our training programs, students are able to perform exceptionally well in their jobs from the very beginning.

Is there a skill gap? Why do you think upskilling is important?

The significant skill gap that exists in the BFSI sector can be attributed to the lack of skill-based training provided to undergraduates, which leaves them unprepared for future jobs.

These young graduates require guidance on what skills to acquire and how to prepare themselves for the evolving job market, an aspect that is often missing from their basic education curriculum.

To address this issue and reduce attrition rates, we have developed courses that focus on upskilling. These courses aim to equip individuals with the necessary skill sets to advance in their careers.

For instance, we offer a variety of courses, such as the Professional Certificate Program in Banking and Finance (PCPGF) that primarily focuses on entry-level positions in commercial banking, and the Post Graduate Program in Banking & Finance (PGP+) with a specialization in Investment Banking Operations. The duration of these courses ranges from 4 months to 2 years.

By enrolling in these courses, young graduates can progress from one level to the next in their careers.

The BFSI sector offers numerous opportunities across various departments, including customer service, business development, human resources, cyber security, digital technology, credit management, trade finance, financial risk management, IT, and CRM, among others.

BankEdge courses provide the necessary knowledge and skills to excel in these roles and seize the vast opportunities available in the industry.

How are you shaping the future of young bankers?

In the upcoming years, the BFSI sector will undergo changes, evolution, and growth. It is crucial for young graduates to acquire and enhance their skills to stay abreast of industry developments.

Within the banking domain, proficiency in various areas such as Branch Banking, Customer Service, Retail Banking, Credit Management, Trade Finance and Financial Risk Management is essential.

Additionally, focusing on risk management and regulatory compliance has become increasingly significant, and it is crucial for young graduates to have a comprehensive understanding of these areas.

Over the past few years, BankEdge has successfully trained more than 30,000 graduates for the BFSI sector. In the next three years, we have ambitious plans to train an additional 30,000 individuals, enabling them to thrive in this industry.

What major challenges do you come across while upskilling the students? 

In the current era, upskilling has become a necessity. The traditional approach of joining an organization and continuing until retirement without acquiring new skills is no longer viable.

The widespread adoption of technology has impacted every sector of the workforce. With the emergence of advanced AI generative tools like ChatGPT, the qualifications of employees have come into question, and many positions may become obsolete.

Companies are even halting recruitment for certain roles, considering the possibility of ChatGPT filling those positions. These challenging times demand that employees prioritize upskilling to stay competitive. Failing to do so may leave them stranded on the unemployment highway.

What opportunities do you see in terms of the banking sector?

The BFSI sector offers tremendous potential and presents significant growth opportunities for students pursuing it as a career path.

With the ongoing shift towards digital banking and the emergence of fintech startups, there is a high likelihood of creating new job roles and expanding career prospects for young graduates.

To meet the changing customer demands, the sector will require professionals who possess a combination of financial knowledge and technological skills.

Our courses are specifically designed to cater to these evolving needs. Graduates starting their careers in the BFSI sector can expect salaries ranging from Rs 3 lakh to 4 lakhs per annum, depending on their skills and experience.

From entry-level positions to managerial roles, both the salary levels and skill requirements have seen an upward trend. We play a crucial role in training candidates to meet these demands.

Consequently, the number of skilled professionals in the workforce has increased, leading to a corresponding rise in opportunities within the sector.

What is the employment scenario?

The BFSI sector holds a prominent position as one of the largest employment sectors in India, offering a wide array of job opportunities in banking, finance, and insurance.

As indicated by the BFSI Sector Skill Council of India, the demand for skilled personnel in the BFSI industry has reached 8.5 million by the conclusion of 2022.

To meet this requirement, integrating skill training within the education system becomes imperative.

This integration would empower students to acquire the essential skills and knowledge that employers seek, enabling them to secure appropriate employment and make valuable contributions to the nation’s economic advancement.