VinciWorks by the numbers: 2017 – a year in review

2017 was an exciting year at VinciWorks. Our technology team broke new ground integrating next-generation web technologies into our e-learning products, making them more customisable and more mobile friendly than ever. Our content team produced an ever greater number of courses, guides, policies and compliance updates, shedding new light and delving ever deeper into the most complex compliance topics of the day. Our risk management and product teams continued to enhance our suite of risk and compliance products, innovating and improving them with new features and applications, with many more to come in 2018.

Here are some highlights from the past year at VinciWorks.

170,000 course completions

Course completions on the VinciWorks LMS have increased by over 20,000 this year. Many organisations are choosing to use the VinciWorks LMS in addition to their in-house LMS due to its robust automation and improved  reporting and compliance features.

1038 individually tailored courses

In 2017 VinciWorks reimagined the meaning of ‘course’. We focused on developing new learning products individually tailored and specifically customised to the needs of each learner. We embedded ‘gamification’ elements and personalised features to create higher levels of engagement and attainment. Some of our course highlights from this year include:

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Modern Slavery Act – preparing your second statement

A group of people being kept as modern slaves, including a mother with a baby

2017 marks the first year that all companies (with revenues of at least £36m) must provide a Modern Slavery Act disclosure. Many companies are now preparing their second statement and are seeking guidance on how to amend their statement and how to address ongoing training requirements.

Useful resources

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New AML 360° module: Cryptocurrency and the blockchain

Cryptocurrency and the blockchain: What’s the AML risk?

VinciWorks has just added a new module to its course AML 360°. The module explains what is meant by cryptocurrency and blockchain and the compliance challenges they present. The module also explores the money laundering risks that come with cryptocurrency, as well as preventative measures.

Screenshot from Cryptocurrency module
The new module helps organisations understand the risks presented by cryptocurrencies such as bitcoin

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Guide to anti-money laundering training requirements under the Fourth Directive

What you need to know sign

The Money Laundering Regulations 2017 require relevant businesses to:

  • Make employees aware of the laws relating to money laundering and terrorist financing
  • Regularly provide training on how to recognise and deal with transactions and other activities which may be related to money laundering or terrorist financing

What is a relevant business? 

Money laundering regulations apply to various business sectors, including financial services, accountants and estate agents, and other businesses such as law firms undertaking regulated work.

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Six months until GDPR implementation – how to prepare

Keyboard with GDPR implementation button
The General Data Protection Regulation comes into full force on 25th May 2018

There are now less than six months to go until GDPR implementation, when it becomes law throughout the EU, including the UK. Any business operating in the EU, serving EU customers or shipping orders inside Europe will need to comply.

From training staff to rewriting privacy policies, there’s a lot that needs to be done to ensure your business is ready for GDPR. If you’re in the UK, the new Data Protection Act will form the basis of data protection law. However, ensuring your business is ready for GDPR will also ensure you are ready for the new Data Protection Act.

What is in the new UK Data Protection Bill?

Along with transposing GDPR into UK law, the Bill will replace the UK’s DPA 1998 and ensure that data protection law remains Brexit-proof. Continue reading

New LMS feature: administration tools added to activity screen

One of the latest features added to our LMS is the ability to access administration tools from the activity screen. Simply click on an activity from your calendar or list, then use the scroll-down on the top-right of the activity screen to carry out activities such as enrol users, invite groups or view the attendance list.

Demo showing how to manage activities

 

New LMS feature: “Browse calendar” feature added to administration toolbar

VinciWorks has just added a new feature to their LMS to help users manage tasks more efficiently. Users can now easily browse their calendar by clicking on “offline activities” and then “browse calendar of activities”. Users can easily view a list of the activities by clicking on “switch to list” above the calendar.

Browse calendar activity function
The new function makes it easier and faster for users to view their activities in a calendar format

New data protection course module: A Guide to Global Data Protection

Screenshot from latest data protection module to be added to the course

VinciWorks has just added a new module to the course Data Protection: Privacy at Work. The new module explores and contrasts data protection legislation in countries around the world. This new module consists of an interactive guide to global data protection, whereby users can easily lookup the answers to a range of questions they may have about the data protection laws in various countries. This allows businesses to easily familiarise themselves with the data protection laws in any country they operate in and ensure they comply.

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Are your AML identification policies discriminatory? CDD & transgender customers

Young man holding up transgender symbol

With today marking Transgender Day of Remembrance (TDOR), our recent publication in Money Laundering Bulletin examines the struggle transgender people go through when it comes to changing a name and title at establishments such as a local bank.

Changing name and title in the UK should be as easy for the transgender bank customer as for someone who marries or enters a civil partnership but too often it is not. Annoying, if not hurtful to the individual, the obstacles encountered represent reputational and possible legal risk for financial institutions.

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VinciWorks releases new e-learning course: Anti-Money Laundering: Know Your Risk

We have recently launched a new risk-focused course based on new EU and UK AML laws.

Anti-Money Laundering: Know Your Risk drops users into a realistic, immersive scenario-based simulation to test their knowledge, understanding and ability to uncover the risks of money laundering hidden in everyday transactions. The Fourth EU Money Laundering Directive and the UK’s Money Laundering Regulations 2017, passed this year, mandates a fully risk based approach to AML. This means the white list has gone, as have exemptions from client due diligence procedures.

As a long-standing leader in the field of e-learning, Anti-Money Laundering: Know Your Risk asks users to assess the inherent risks and red flags of over 100 available scenarios and give each situation a risk score. Uniquely in e-learning, users receive live feedback and can compare their risk tolerance against others in their firm, industry and globally.

Demo the course

Gain experience points as you take the course

Screenshot showing experience points in Anti-Money Laundering: Know Your Risk

The new course enables users to accrue experience points as they work through various AML scenarios. Veteran users will gather experience points more quickly, updating their knowledge and completing the course in as little as fifteen minutes. Whereas newer users or those that need a more in-depth refresh are encouraged to spend more time reading additional content and building up a bank of points to demonstrate their AML knowledge.

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