With established worldwide recognition of the Institute, a strong basis was in place from which to develop a complete range of examinations and services for the 21st century. For example, the image of the traditional 'banker' is no longer appropriate in this day and age, and the marketplace no longer wants or would accept just a professional banking qualification. Therefore, in 1997, the Institute's Associateship examinations were linked with a BSc (Hons) in Financial Services awarded by UMIST (University of Manchester Institute of Science and Technology), giving the added portability of a degree with a professional qualification. This enabled members of the Institute to gain 'graduateness' and provide them with the skills to conceptualize. The BSc (Hons) in Financial Services and Associateship, as it is known, can either be studied at approved Academic Centres or by distance learning courses provided by the Institute, where students are allocated their own personal tutor. Students are studying throughout the world, as the use of technology enables the students and tutors to be in almost instant communication wherever they are.
The Institute of Financial Services offers various other qualifications. These range from:
· Certificate for Financial Advisers (CeFA) - a regulatory benchmark qualification approved by the UK Financial Services Authority regulators;
· Certificate in Mortgage Advice and Practice (CeMAP) - a ground breaking mortgage-related examination that is setting the standards for an as-yet unregulated market;
· Certified Documentary Credit Specialist examinations developed in whatsApp number database collaboration with the International Financial Services Association and endorsed by International Chamber of Commerce (ICC);
· Credit Card Management examinations developed in collaboration with VISA International;
· Certificate in the Marketing of Financial Services and the Diploma in the Marketing of Financial Services - specialized marketing qualifications
The Institute has been reorganized with a new faculty structure designed to make it more responsive to the needs of its customers and members. In addition to the E-Commerce and Technology Faculty, the new structure also includes the Regulatory and Retail Faculty and the Banking and Finance Faculty. The latter aims to provide education and on-going learning for all those operating as financial and mortgage advisers, as well as those armies of people performing key customer-facing functions in the front office or through call centres. There is also a special competency programme for financial and mortgage advisers, the Institute of Financial Services Register.
In addition to offering a wide range of qualifications, encompassing financial services management, marketing, and specialist qualifications such as documentary credits, the Banking and Finance Faculty aims to support individuals throughout their careers. It offers a range of complimentary products and services, including a career management service, Internet-based learning, executive training programmes and a quarterly publication.
Set in the heart of the City of London, still regarded by many as the financial capital of the world, is the Institute's library, one of the most comprehensive libraries specializing in financial services in the UK. A 'virtual' library service is also available via the Internet. The Institute is a major publisher of financial service books and allied material, ranging from award-winning magazines to dedicated study texts for the examinations.
The Institute has helped to establish and encourage many 'sister' institutes of bankers throughout the world. Recently the Institute of Bankers in Eastern Europe has been established, and has asked The Chartered Institute of Bankers, the parent body of the Institute of Financial Services, for assistance in moderation of examinations to ensure that the correct procedures and standards are put in place. The Institute of Bankers of Sri lanka is significantly enhancing the international recognition of its qualifications by having a range of banking and finance qualifications accredited by The Chartered Institute of Bankers.
For more information about the Institute and the services it offers,