Mumbai: Axis Bank, India’s third largest private sector bank, has launched first of its kind Academies, dedicated skill and learning platform, with reputed partners to enhance productivity of its 56,000 workforce. Axis Banks plans to nurture the traditional banking skills with a new age lens, titled Twin-Tracking. This employee skilling and learning initiative aims at creating a talent pool for future-ready digital bankers by nurturing the skill-sets and encouraging its employees to self-identify and select areas of specialization.
In this endeavour, the Bank has partnered with renowned institutes such as INSEAD, CRISIL, INSOFE to integrate the core banking skills such as credit & risk with the new age lens of digitization powered by data driven analytics. As part of this initiative, the bank along with these institutes has set-up: AXIS INSEAD Digital Leadership Academy, Axis CRISIL Credit Academy, Axis CRISIL Risk Academy, Axis INSOFE Analytics Academy, and Axis Trade & Forex Academy.
Commenting on the launch of Axis Academies, Rajesh Dahiya, Executive Director, Axis Bank, said, “We believe that continuous learning is critical for the Bank to be taken to the next level. With rapid adoption of digitization across the ecosystem, it’s becoming imperative to review and redesign our decision making frameworks. Building strong digital capabilities through consistent learning process will act as a critical element in driving this reengineering and to stay relevant and agile. To fulfill the goal of digital India, our Academies will ensure that we nurture and create more digital bankers in the country.”
Axis Bank in association with INSEAD, one of the world’s leading business schools, is setting up ‘AXIS INSEAD Digital Leadership Academy’. The Academy will focus on building digital bankers in line with furthering the nation’s agenda of digitization.
Commenting on the partnership with the bank, Jukka Majanen, Director, Corporate Partnerships (Executive Education), INSEAD said, “This is a groundbreaking Academy and we at INSEAD are very happy to be part of this exciting journey. Banking is going through a lot of disruption and as we have seen with industries in this situation, organizations have to be very proactive. Axis Bank is taking the lead by being proactive and becoming a leader.”
The Bank has also partnered with CRISIL, a leader in providing of ratings services, data and research and executive education in the areas of Credit and Risk in India, to set-up Axis CRISIL Risk Academy and Axis CRISIL Credit Academy. Prasad Koparkar, Senior Director, CRISIL Research, said, “The Academies will perform as a platform for employees with best in class content on a digital on the go platform. This will equip employees to take on cross functional assignments within the bank and build employability.”
Additionally, to empower its employees to translate the data into actionable insights, the bank has partnered with INSOFE, India’s premier school of Data Science to introduce Axis INSOFE Academy for Analytics.
In addition to these new initiatives, the bank has an internal learning portal that consists of a strong catalogue of over 1500 courses to nurture the skill-sets of its employees. The Bank’s recent partnership with Coursera supplemented the catalogue with content delivered by the best universities across the globe. Curated, contextualized classroom interventions for leaders at various levels also augmented the learning architecture.
With the launch of Twin-Tracking Academies, Axis Bank aims at blending traditional banking skills with futuristic skills. Through these Academies, employees will be empowered to select what specializations they would like to acquire at the pace of their choice. The bank said that Twin tracking capabilities is the way of the future and the Academies will play a large role in driving that transformation across the Bank and industry-at-large.