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 nearly 130,000 students, IU International University of Applied Sciences (IU) is the largest university in Germany. The private, state-recognised educational institution, based in Erfurt, began teaching in 2000 and now has 37 campuses. IU stands for maximum flexibility in study: whether through dual study, distance learning or on campus – students from over 160 nations tailor their educational path to suit their individual circumstances. With more than 200 degree programmes at bachelor’s, master’s and MBA level, IU imparts practical skills. Innovative learning concepts foster targeted, future-proof skills for an increasingly AI-driven world of work. A modern, digitally supported learning environment and the use of artificial intelligence enable effective, personalised learning. As a pioneer in this field, IU has developed its own digital learning companion, ‘Syntea’, which has been in use since 2023. A network of over 15,000 companies – including Motel One, Vodafone, AWO and Deutsche Bahn – makes IU a strong partner in the training of skilled workers and consistently links academic teaching with practical experience. Further information at: iu.org
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
