Bank of America’s roll-out of VR training is the latest huge implementation of immersive technology at a major Fortune 500 company
➨ Bank of America is rolling out VR training across nearly 4,300 locations in the US
➨ Approximately 50,000 employees will gain access to immersive learning and development
➨ The roll-out follows a pilot that left 97% of participants feeling more comfortable performing their tasks
Financial services organisation Bank of America is rolling out virtual reality (VR) training across nearly 4,300 locations in the US, giving approximately 50,000 employees access to immersive learning and development.
It is the latest huge implementation of VR training at a major Fortune 500 company, following a successful pilot involving 400 employees that Bank of America says left 97% of participants feeling more comfortable performing their tasks.
Bank of America is using the VR training platform of San Francisco, California-based Strivr, which also works with Walmart, another major corporate adopter that initially aimed to deliver for almost 20,000 employees.
The organisations says that almost 50,000 employees will use VR on Oculus Go headsets to practise a range of routine to complex tasks and simulate client interactions, through a series of learning modules largely aimed at soft skills and slated to roll out by the end of next year.
Its employees will have the opportunity to use 20 different VR simulations and practise a wide range of soft skills, including client relationship management, navigating difficult conversations, and listening and responding with empathy.
An added benefit of the Strivr platform for Bank of America is its embedded real-time analytics, which enable managers to identify skill gaps and provide targeted follow-up coaching and personalised guidance.
Hari Gopalkrishnan, head of retail, preferred, small business and wealth management technology at Bank of America, calls VR “a proven learning tool that will empower teammates with the skills they need to better serve clients and help make financial lives better”.
John Jordan, head of Bank of America’s The Academy, its onboarding, training and development organisation, adds: “At Bank of America, our commitment to being a great place to work for our teammates fuels our focus on innovation. 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.”
Image: Bank of America