Bank of America to Introduce a VR Training Program at Its 4,300 Financial Centers
Bank of America to Introduce a VR Training Program

Bank of America to Introduce a VR Training Program at Its 4,300 Financial Centers

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The American multinational financial services company, Bank of America, is gearing up to introduce virtual reality (VR) training at its nearly 4,300 financial centers nationwide. The company aims to facilitate training for over 50,000 employees through the technology, helping them optimize a range of routine to complex tasks and simulate client interactions through a virtual environment.

“At Bank of America, our commitment to being a great place to work for our teammates fuels our focus on innovation,” said John Jordan, Head of The Academy at Bank of America. “VR is highly effective at helping teammates build and retain new skills, and it is one of many ways we are using technology to support internal mobility and provide best-in-class learning opportunities.”

Through the initiative, each Bank of America financial center will get VR headsets to conduct the training programs rolled out by the end of next year. The learning modules will feature twenty distinctive simulations and emphasize strengthening and deepening relationships with clients, navigating difficult conversations, and listening and responding with empathy.

The real-time analytics embedded in this technology will help managers identify skill gaps and provide targeted follow-up coaching and support to their teammates to enhance performance. The company has run a pilot with 400 employees, 97% of whom had positive feedback post experiencing the simulations.

“Innovation is at the heart of everything we do,” said Hari Gopalkrishnan, Head of Retail, Preferred, Small Business, and Wealth Management Technology at Bank of America. “We are focused on creating and implementing technologies that offer advanced solutions. With VR, we’re rolling out a proven learning tool that will empower teammates with the skills they need to better serve clients and help make financial lives better.”

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