BankersLab^TM, an innovator in global risk management training, has today at FinovateSpring announced the launch of CreditLab^TM - the first in a suite of simulation gaming products.

Despite great advancements in banking analytics and technology, innovation in human capital has fallen short. The global credit crisis has highlighted how human knowledge is still key to managing portfolios, yet the dollars to ensure bankers are prepared for economic shifts have not been spent wisely. CreditLab^TM places technology directly in the hands of bankers who want to improve their skill sets in a profound way.

Michelle Katics, BankersLab^TM CEO, founded the enterprise in a quest to ‘raise the bar’ of expertise in the retail banking industry. “If you’ve already invested in the airplane, how can you justify a lack of investment in the pilot? The ability to anticipate the future and act strategically needs improvement. The good news is that simulation gaming technology provides an opportunity to reinvent how we train and learn.”

Teaming up with pioneering simulation game designer Neil Seitz, BankersLab^TM has integrated tried and tested calculation engines into their software. Katics explains, “Dr. Seitz has been building simulation games for over a decade, so the subtleties of learning effectiveness have been clearly demonstrated. Our goal is to make the learning technology widely available to the banking industry.”

Leading the way in ‘gamification’ of training for bankers, CreditLab^TM adopts a dynamic approach, similar to that of a flight simulator, that actively engages a learner and allows them to test drive their credit risk management knowledge. Players each manage four lending portfolios through testing conditions, such as heavy price competition and an economic recession. Competing against other teams, players are provided with real time feedback, so that they can assess their performance.

An assembly of subject matter expert advisors and faculty further supports the suite of products. On release, BankersLab^TM will offer global clients rigorous ‘training-the-trainers’ or professional services support as an institutional license. Future releases will support individual seat licenses and certification programs.

About BankersLab^TM: BankersLab^TM is a privately held early stage start-up. For more information, visit: www.bankerslab.com.

About FinovateSpring: A demo-based conference for innovative start-ups and established companies in the fields of banking and financial technology. http://www.finovate.com/spring2012