IU welcomes LIBF to IU Group family
The London Institute of Banking & Finance (LIBF) joins Europe’s leading edtech company, IU
The London Institute of Banking & Finance (LIBF) joins Europe’s leading edtech company, IU.
- Move brings LIBF closer to IU Group’s EdTech pioneer IU International University of Applied Sciences (IU), Germany’s largest and fastest growing university
- LIBF joins IU Group as a wholly owned UK subsidiary (LIBF Ltd.)
- LIBF launches expansion of new co-developed online degree programmes with IU
Erfurt, Germany, 14 June 2023. The London Institute of Banking & Finance (LIBF) is the latest degree awarding body to join IU Group, Europe’s largest edtech company and owner of the private IU International University of Applied Sciences (IU). The purchase was made official on 31 March 2023 and takes effect immediately. Due to its strong heritage and long-standing history and tradition, LIBF’s mission will stay the same.
Dr Sven Schuett, CEO, IU Group, said:
“We are excited to welcome LIBF to the IU family. As we continue to grow, we enter a new era with LIBF allowing us to continue building on our mission that everyone can access education to grow. Through LIBF’s expertise in the banking and finance world and IU as a leader in edtech we see great potential for creating synergies that afford students a top-rated and customisable education no matter where they live.”
“With the expansion of AI in the education sector, our students are able to stay ahead of the curve with flexible, and innovative learning models in digital education.”
Flexible online learning
IU’s flexible online approach and use of technology and innovation in the classroom proves to be a winning formula for students. Regardless of where one lives or how much time one has, IU students have the option to study at their own pace which is particularly appealing to those juggling work, family and other commitments. This tried and tested approach will be incorporated in newly co-developed online degree programmes at LIBF as part of IU’s multi-brand platform strategy. New online study programmes offered at LIBF are focused on data and computer science, artificial intelligence and international business management – critical skills needed in finance and business today.
Alex Fraser, CEO, LIBF, said:
“This partnership represents an important evolution for LIBF and will allow us to make significant advancements for the future – bringing advantages and new opportunities to our students, members and staff as we look to extend our services around the world. It’s a fantastic opportunity for LIBF to partner with one of Europe’s most successful and technology-enabled education businesses.”
“Teching up” teaching
As AI and technology continue to develop, so must higher education institutions if they wish to be competitive in the education market. IU’s personalised and hybrid learning models, as well as the integration of AI and ChatGPT in its courses prove to be influential in its success. As Germany’s largest and fastest growing university with more than 100,000 students, its learners are pioneering the way in the latest technological developments in higher education, including IUs own edtech innovation, “Syntea” (synthetic teaching assistant). These developments are also true for the banking industry:
- Banking is changing rapidly – with online banking being the norm and evolving customer expectations transforming the way retail banks operate.
- Whether it’s cryptocurrency, online payment platforms or robo-advisers and AI, fintech continues to shape the way people interact with money.
Through its partnership, LIBF and IU will be able to stay ahead of the curve and remain competitive in the banking and finance education market.
With over 130,000 students, IU International University of Applied Sciences (IU) is the largest university in Germany. The private, state-recognised educational institution with its headquarters in Erfurt began operations in 2000 and is now represented in more than 35 German cities. Students from over 190 nations design their studies according to their needs: whether practice-integrated dual studies, flexible distance learning or individual “myStudium”, which combines online self-study and campus life. IU wants to give people worldwide access to personalised education for a fulfilled and self-determined life. In more than 250 bachelor's, master's and MBA programmes, including over 50 in English, IU teaches students key skills relevant to the future. A digitally supported learning environment and the use of AI solutions help students to achieve optimal learning results and experiences. IU is one of the first universities in the world to have developed and deployed its own AI-supported learning buddy. IU cooperates with over 15,000 companies and supports them in the academic training of professionals. Partners include Motel One, Vodafone, AWO and Deutsche Bahn. Further information at: iu.org
The AI-supported learning buddy "Syntea" is now available as a public demo version in the ChatGPT store at the following link: https://chat.openai.com/g/g-P5olqoCPc-syntea
ABOUT THE LONDON INSTITUTE OF BANKING & FINANCE
The London Institute of Banking & Finance (LIBF) has been providing industry-leading education and qualifications for the financial sector since 1879. With a focus on vocational training, LIBF delivers a broad range of qualifications and programmes to support banking and professionals at each stage of their careers – from entry-level to advanced professional qualifications. It is the only professional body in the finance sector to have Taught Degree Awarding Powers. Further information at: www.libf.ac.uk
The continuing charity – now called The London Foundation for Banking and Finance (LFBF) – will fund financial education projects, provide scholarships and bursaries and confer chartered status on suitably qualified professionals, in line with its charitable objects of advancing knowledge and education in financial services. Further information at: www.lfbf.org.uk
Press Contacts
IU International University of Applied Sciences
John Roman
International PR Manager
john.roman@iu.org
The London Institute of Banking & Finance
Heather Tilston
Director of PR & Communications
htilston@libf.ac.uk
