Although they are non-educational institutions, fi-
nancial institutions have specific training needs. The
greatest priority in employee training arises when the
bank launches a new financial product or service. The difficulty, in such cases, lies in training the employees
in all the regional branches so that they can offer good service to meet the clients’ demand for the product.
In developing the training program, two factors have to be considered:
• The department responsible for developing the
new financial product keeps it secret during the
development phase. Therefore, the technical de- tails, tax treatment, and other issues relating to the product are known only after it has been designed and is ready to be launched. Consequently, it is impossible to train employees until the new product has been completely developed; and • Traditionally, employee training is pyramidal.
First of all, the trainers in each training center are trained. These, in turn, train the managers, in groups, from the most important branches. Finally, these managers are responsible for training the
employees in their offices.
Considering the specific needs of the employees, and to obtain the maximum profitability from new financial products, we defined the pilot project called Factory
to minimize time and cost spent in the development of
e-learning courses for financial institutions.
This project was conceived to cover the above- mentioned weaknesses detected in the training process
of an important financial institution. The pilot project
goals were:
• To improve the spread of knowledge, and
• To minimize the course development cost and
time.
The remainder of this article is structured as follows. A summary of the main concepts around e-learning are
analyzed: concepts, definitions, and platforms. After
that, we present the results obtained from a project to develop ad hoc e-learning courses with what we call the Factory tool. This pilot project consisted of two main parts: developing the Factory tool, and developing the courses with and without this tool, in order to compare
the cost/benefit for the institution.
e-learnIng
E-learning, also known as “Web-based learning” and “Internet-based learning”, means different things to
different people. The following are a few definitions
of e-learning:
• The use of new multimedia technologies and the Internet to improve the quality of learning by facilitating access to resources and services as well as remote exchanges and collaboration (Kis-Tóth & Komenczi, 2007);
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• Learning and teaching environment supported
by electronic, computing media; the definition
includes: (E-Learning in a New Europe, 2005)
◦ People (teachers, students, etc.),
◦ ICT: computers, notebooks, mobile phones,
PDA’s, new generation of “calculators”, and so forth;
• Learning facilitated and supported through the use of information and communication technologies, according to LTSN Generic Centre;
• Learning supported or enhanced through the ap-
plication of Information and Communications Technology (LSDA, 2005);
• Computer-supported learning that is characterized by the use of learning systems or materials that are: (Alajanazrah, 2007)
◦ Presented in a digital form;
◦ Featured with multi- and hyper-media; ◦ Support interactivity between learners and
instructors;
◦ Available online; and ◦ Learner-oriented;
• E-learning is the convergence of learning and the Internet, according to Bank of America Securi- ties;
• E-learning is the use of network technology to
design, deliver, select, administer, and extend learning, according to Elliott Masie of The Masie Center;
• E-learning is Internet-enabled learning. Compo- nents can include content delivery in multiple formats, management of the learning experience, and a networked community of learners, content developers, and experts. E-learning provides faster learning at reduced costs, increased ac- cess to learning, and clear accountability for all participants in the learning process. In today's fast-paced culture, organizations that implement e-learning provide their work force with the abil- ity to turn change into an advantage, according to Cisco Systems;
• E-learning is the experience of gaining knowledge and skills through the electronic delivery of edu- cation, training, or professional development. It encompasses distance learning and asynchronous learning, and may be delivered in an on-demand environment, or in a format customized for the individual learner (Stark, Schmidt, Shafer, & Crawford, 2002);
• E-learning is education via the Internet, network, or standalone computer. It is network-enabled transfer of skills and knowledge. E-learning refers to using electronic applications and processes to learn. E-learning applications and processes include Web-based learning, computer-based learning, virtual classrooms, and digital col- laboration. Content is delivered via the Internet, intranet/extranet, audio or video tape, satellite TV, and CD-ROM (Elearnframe, 2004);
• Any technologically-mediated learning using
computers, whether from a distance or in a face- to-face classroom setting (computer-assisted learning) (USD, 2004); and
• Any learning that utilizes a network (LAN, WAN, or Internet) for delivery, interaction, or facilitation; this would include distributed learn- ing, distance learning, computer-based training (CBT) delivered over a network, and WBT. It can be synchronous, asynchronous, instructor-led, computer-based, or a combination (LCT, 2004).
In a general way, the most accepted definition for e-
learning is: “The use of technologies to create, distribute and deliver valuable data, information, learning and knowledge to improve on-the-job and organizational performance and individual development”. Although it seems to focus on Web-based delivery methods, it is actually used in a broader context.
There are many well-known organizations that are making a big effort to standardize the concepts, processes, and tools that have been developed around e-learning:
• The Aviation Industry CBT (Computer-Based
Training) Committee (AICC) (http://www.aicc. org/) (AICC, 1995, 1997) is an international association of technology-based training profes- sionals. The AICC develops guidelines for the aviation industry to develop, deliver, and evalu- ate CBT and related training technologies. The AICC develops technical guidelines (known as AGRs), for example, platform guidelines for CBT delivery (AGR-002), a DOS-based digital audio guideline (AGR-003) before the advent of window multimedia standards, a guideline for Computer Managed Instruction (CMI) interoperability, this guideline (AGR-006) resulted in the CMI systems
that are able to share data with LAN-based CBT courseware from multiple vendors. In January,
1998, the CMI specifications were updated to
include Web-based CBT (or WBT). This new Web-based guideline is called AGR-010. In 1999,
The CMI (LMS) specifications were updated to
include a JavaScript API interface. In 2005, the
Package Exchange Notification Services (PENS)
guideline (AGR-011) allows Authoring/Content Management system to seamlessly integrate publishing with LMS systems, and the Training Development Checklist (AGR-012) describes a checklist of AICC guidelines to consider before purchasing or developing CBT/WBT content or systems;
• The IEEE Learning Technology Standards
Committee (LTSC) (http://www.ieeeltsc.org/) is chartered by the IEEE Computer Society Standards Activity Board to develop accredited technical standards, recommended practices, and guides for learning technology. The Standard for Information Technology, Learning Technol-
ogy, and Competency Definitions (IEEE, 2003; O’Droma, Ganchev, & McDonnell, 2003) defines a universally-acceptable Competency Definition
model to allow the creation, exchange, and reuse
of Competency Definition in applications such as
Learning Management Systems, Competency or Skill Gap Analysis, Learner and other Competency
profiles, and so forth. The standard (IEEE, 2004)
describes a data model to support the interchange of data elements and their values between a content object and a runtime service (RTS). It is based on a current industry practice called “computer- managed instruction” (CMI). The work on which this Standard is based was developed to support a client/server environment in which a learning technology system, generically called a learn- ing management system (LMS), delivers digital content, called content objects, to learners. In
2005, LTSC defined two standards (IEEE, 2005a,
2005b), which allow the creation of data-model instances in XML;
• The IMS Global Learning Consortium (http:// www.imsproject.org/) develops and promotes
the adoption of open technical specifications for
interoperable learning technology. The scope for
IMS specifications (IMS, 2003a, 2003b), broadly defined as "distributed learning", includes both on
and offline settings, taking place synchronously
(real-time) or asynchronously. This means that the
learning contexts benefiting from IMS specifica-
tions include Internet-specific environments (such
as Web-based course management systems) as well as learning situations that involve off-line electronic resources (such as a learner accessing learning resources on a CD-ROM). The learners may be in a traditional educational environment (school, university), in a corporate or government training setting, or at home. IMS has undertaken a broad scope of work. They gather requirements through meetings, focus groups, and other sources around the globe to establish the critical aspects of interoperability in the learning markets. Based on
these requirements, they develop draft specifica- tions outlining the way that software must be built in order to meet the requirements. In all cases,
the specifications are being developed to support
international needs;
• The Advanced Distributed Learning (ADL)
(http://www.adlnet.org/) initiative, sponsored by
the Office of the Secretary of Defense (OSD), is a
collaborative effort between government, indus- try, and academia to establish a new distributed learning environment that permits the interoper- ability of learning tools and course content on a global scale. The following are several technolo- gies the ADL initiative is currently pursuing:
◦ Repository systems provide key infrastruc- ture for the development, storage, manage- ment, discovery, and delivery of all types of electronic content;
◦ Game-based learning is an e-learning ap- proach that focuses on design and “fun”;
◦ Simulations are examples of real-life situ- ations that provide the user with incident response decision-making opportunities;
◦ Intelligent Tutoring Systems (ITS): “Intel-
ligent” in this context refers to the specific
functionalities that are the goals of ITS development;
◦ Performance Aiding (also called Perfor- mance Support) is one of the approaches being used to support the transformation. Improved human user-centered design of equipment, replacing the human role through automation, as well as new technology for job performance are examples of the
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transformational tools under investigation to bridge the gap between training, skills, and performance;
◦ Sharable Content Object Reference Model
(SCORM) was developed as a way to integrate and connect the work of these organizations in support of the Department of Defense’s (DoD) Advanced Distributed Learning (ADL) initiative. The SCORM is
a collection of specifications adapted from
multiple sources to provide a comprehensive suite of e-learning capabilities that enable interoperability, accessibility and reusability of Web-based learning content (SCORM® 2004, 2006);
• The Center for Educational Technology Interop-
erability Standards (CETIS) (http://www.cetis. ac.uk) represents UK higher and further education on international educational standards initiatives. These include: the IMS Global Learning Consor- tium; CEN/ISSS, a European standardization; the IEEE, the international standards body now with a subcommittee for learning technology; and the ISO, the International Standards Organization, now addressing learning technology standards;
• The ARIADNE Foundation (http://www.ariadne-
eu.org/) was created to exploit and further develop the results of the ARIADNE and ARIADNE II European projects. These projects created tools and methodologies for producing, managing, and reusing computer-based pedagogical elements and telematics-supported training curricula. The project’s concepts and tools were validated in vari- ous academic and corporate sites across Europe; and
• Promoting Multimedia Access to Education and
Training in European Society (PROMETEUS). PROMETEUS was part of the eEurope 2005
initiative that finished at the end of year 2005 and
was followed by the i2010 initiative (Europa.eu, 2006). The output from the Special Interest Groups within PROMETEUS could be in the form of guidelines, best practice handbooks, recommen- dations to standards bodies, and recommendations to national and international policy-makers. The objectives of PROMETEUS were:
1. To improve the effectiveness of the cooperation between education and training authorities and establishments, users of learning technologies,
and service and content providers and producers within the European society;
2. To foster the development of common European and international standards for digital multimedia learning content and services;
3. To give a global dimension to their cooperation, and to having open and effective dialogues on issues relating to learning technologies policy with policy-makers in other regions of the world, while upholding Europe’s cultural interests and
specificities;
4. To consider that the way to achieve these goals is by following certain common guidelines organiz- ing their future co-operation; and
5. To consider that these guidelines should be based upon analysis of the needs expressed by users of the information and communication technologies in the education and training sectors.
In summary, the main and common goal for these standards is the reuse and interoperability of the educational contents between different systems and platforms.
There are many e-learning tools used in different contexts and platforms but, in general, Web-based training is the tread for the training process in many institutions.
Software tools used in Web-based learning are ranked by function:
1. Authoring Tools: Essentially, multimedia cre- ation tools;
2. Real-Time Virtual Classrooms: A software product or suite that facilitates the synchronous, real-time delivery of content or interaction by the Web;
3. Learning Management Systems (LMS): Enter- prise software used to manage learning activities through the ability to catalog, register, deliver, and track learners and learning. Within the learning management systems category, there are at least three subsets of tools:
a. Course Management Systems (CMS):
Software that manages media assets, documents, and Web pages for delivery and maintenance of traditional Web sites; it generally consists of functions including content manager, asynchronous collabora- tion tool, and learning record-keeper;
b. Enterprise Learning Management Sys- tems (ELMS): Provides teams of develop- ers with a platform for content organization and delivery for a varied kind of content; and
c. Learning Content Management Systems (LCMS): A multi-user enterprise software that allows organizations to author, store, assemble, customize, and maintain learn- ing content in the form of reusable learning objects.
There are many platforms and tools for e-learning; authors made an analysis of the most relevant ones (Table 2) considering eight key features that are rated as: 0 (Not present), 1 (Partially presented), 2 (Pres-
ent). In Table 1, we define the above mentioned key
features.
The e-learning process is not only for educational institutions; actually more institutions use e-learning systems to train their employees.
Non-educational institutions have specific needs and priorities in e-learning. The financial entities pri- oritize the speed in which courses can be designed for the delivery of new products and services. Courses for
training in financial entities are characterized by:
• Speed in the generation: The delivery of a new
product or service requires efficiency in the mul- timedia resources integration;
• Uniformity in design: The graphic designs are
similar for each specific entity (color, logos,
etc.);
• Specificity: Each course is designed for a par- ticular entity which does not want to exchange contents with other institutions;
• The contents belong to a specific domain, and
their structure is predetermined;
• The evaluation processes are simple; and
• The information is restricted to the employees
concerned.
With these characteristics, the use of complex e-
learning tools is not a wise decision from the cost/benefit
point of view.
This is the opposite of the standardization needs such as those outlined by the European Union regard- ing the Single European Information Space (European Commission, 2005). This program and those of other educational entities require wide scope, variety of styles, designs, and mainly capacity to exchange contents (European Union, 2003).