One on One July 15, 2022

LASCO Financial Services Limited Reduced Training Expenses Using One On One

Case Studies

Background 

The Financial Action Taskforce (FATF) blacklisted Jamaica “because of several substantial deficiencies in its legislative framework that concern money laundering and the financing of terrorism and proliferation” (The Jamaica Gleaner, 2021)[1]. This reality creates a particularly difficult environment for cambio operators across the island, with LASCO Financial Services being no exception.

 Lauren Lawrence and his team rigorously train their 140 Ria, LASCO, and MoneyGram cambio agents each year to ensure they remain compliant with FATF regulations and provide stellar customer service. He partnered with One-On-One to create an efficient process for administering and marking the tests given to these agents, while also providing each agent with a certificate of completion.

Problem 

Before using One On One, Lauren and his team administered face-to-face tests to each group of agents at the end of training sessions. There would be hundreds of tests to mark and they would spend hours meticulously marking each student’s script. The team would then have to ensure each successful agent was sent a certificate of completion which was another step that consumed a lot of time.

Solution 

One On One’s online learning platform provided a way for Lauren and his team to administer tests virtually and remotely. During the pandemic, the mandatory face-to-face training sessions became online Microsoft Teams presentations which were followed by mandatory tests via One On One’s platform.

However, One On One wasn’t only a test administering solution. Learners could also use the platform to review material related to the courses before completing the tests.

 “One On One helped LASCO Financial Services Limited (LFSL) offer a style of testing which pairs the course material with the tests. With this, learners or trainees could review the material being tested on consistently. This helped learners have important information reinforced in their minds and, as such, presented a higher likelihood of that information being retained and applied in real life scenarios.”

~Group Compliance Department of LASCO Financial Services Limited

Results 

One On One helped LFSL achieve four key results: 

1. Five hundred (500) agents were assigned courses and tests in 2022 with 85% of these agents completing the tests and receiving certificates.

2. LFSL’s training expenses were reduced.

3. The logistical challenges of coordinating staff for face-to-face training were reduced therefore allowing greater convenience and flexibility for LFSL and the agents.

4. LFSL could start the process of modernizing its operations to suit the current digital climate. This gives the company greater appeal to current and prospective partners.

Schedule a demo and we’ll show you how One On One can help with your employee training and development.

 

 


[1]

Jamaica’s scores upgraded in blacklist report. (2021, January 20). The Jamaica Gleaner. https://jamaica-gleaner.com/article/lead-stories/20210120/jamaicas-scores-upgraded-blacklist-report#