Strivr, an enterprise extended reality (XR) platform, has unveiled a turnkey, off-the-shelf immersive learning bundle for retail banking and financial services.
Strivr, founded in 2015 and incubated at Stanford University, has launched the Strivr XR Training Bundle for retail banking. The collection of modules, informed by Strivr’s experience with major North American financial institutions, includes pre-built, immersive experiences designed to streamline XR deployment and improve learning and performance for associates in financial services.
According to Strivr, financial institutions face the challenge of managing complex product and service portfolios, rapid technological advancements and customer retention rates that can fall as low as 20 per cent. Strivr suggests that, to meet job demands as well as customer expectations, associates need effective training tools.
“Retail banking associates are increasingly challenged with navigating complex workplace interactions, staffing their teams with the right skill sets, and balancing escalating customer expectations,” said Derek Belch, founder and CEO of Strivr.
Drawing from over three million immersive training simulations conducted across its customer base, including many in financial services, Strivr has observed first-hand how immersive learning can better equip employees.
Belch also highlighted that the new off-the-shelf XR bundle specifically “financial institutions better prepare their teams and accelerates the path to get there”.
Strivr XR Training Bundle
The bundle includes five training modules, offering 16 live-action and computer-generated experiences that support a range of skills development.
These modules cover client care, focusing on customer de-escalation and conflict resolution; professional development, with workplace etiquette and professional conduct; manager development, addressing performance challenges; contact centre skills, including hiring and interviewing techniques; and leadership development, emotional intelligence and empathetic skills.
Strivr also says the off-the-shelf bundle draws on a decade of experience in deploying XR solutions at scale to Fortune 1000 organisations, including Bank of America, which launched a nationwide program to bring immersive learning to over 50,000 employees across its approximately 3,800 financial and contact centrrs in 2021.
The initiative has also offered practical solutions for associate training, aimed at speeding up skill development and improving client interactions. According to feedback from Bank of America employees, the repeated practice has helped it provide better service to clients as well as customers.
