In 2014, Andreas Karaiskos took over as CEO for a classic classroom based financial services training organisation, Fitch Learning, and started implementing a global expansion strategy via enhanced eLearning capabilities, partnerships with global financial institutions, co-location with other Fitch group companies while also evaluating target markets’ sustainable financial indicators and their supportive customer demographics.
With its main focus on certificate and basic skills training, its global presence and knowledge, and Fitch Group quality stamp, Fitch Learning is well positioned to capitalise on the large global financial institutions’ desire to outsource basic training needs. In addition, with Fitch Group’s global footprint, Fitch Learning is well positioned for the developing world’s increasing need of financially skilled and certified individuals. Fitch Learning, created by merging Fitch’s in-house old styled training department with the acquisition of the eLearning company ‘7cities’ and its advanced eLearning platform and online technology. Andreas Karaiskos, who came from the acquired company’s “built for sale” culture, had to merge these two very disparate organisations into a modern, flexible, tech savvy 21st century eLearning company “built for growth” and he needed a new strategy! He had to identify and acquire new resources & capabilities, implement a new organisational culture, keeping an eye on the industry trends while also ensuring the company’s profitability.
The strategy required a deep understanding of the industry and the forces affecting it, as well as a need for great leadership to keep key staff motivated. In an era where the use of Artificial Intelligence, machine learning, automation, ever increasing government regulations (fuelled by the growing numbers of high tech start-ups in the FinTech, EduTech and RegTech areas) does Fitch Learning have the right strategy to remain relevant as a financial services learning provider?