The London Institute of Banking & Finance
 | |
| Type | Private university |
|---|---|
| Established | 1879 as the Institute of Bankers, 1987 as the Chartered Institute of Bankers, 1997 as the Institute of Financial Services, 2006 as ifs School of Finance, 2013 as ifs University College, 2016 as The London Institute of Banking & Finance |
| Chancellor | Alex Fraser |
| Location |
London, United Kingdom Coordinates: 51°51′02″N 0°08′40″W / 51.85056°N 0.14444°W |
| Campus | Urban |
| Website | |
The London Institute of Banking & Finance, is a registered educational charity incorporated by Royal Charter. Established in 1879 as the Institute of Bankers, The London Institute of Banking & Finance offers a number of qualifications from financial capability for 14-19 year olds, undergraduate, Masters, and Continuing Professional Development (CPD) and executive education qualifications and programmes.
The organisation changed its name from ifs University College in September 2016.[1]
History
It was founded in 1879 as the Institute of Bankers.[2]
It gained a Royal Charter in 1987 becoming the Chartered Institute of Bankers.[3]
In 1993 it merged with the Chartered Building Societies Institute.
Beginning in 1996 the BSc (Hons) in Financial Services is offered as a dual award with the University of Manchester Institute of Science and Technology. It was the first professional award to be linked to a university degree.
Its name was changed in 1997 to the Institute of Financial Services. In the same year, the Certificate in Mortgage Advice and Practice (CeMAP) was introduced – this was the first qualification for UK mortgage professionals.[4]
In 2001 the Institute of Financial Services became the first educational body in the sector to provide electronic assessment for its regulatory qualifications. Also this year, the first of the personal finance qualifications for young people in the UK was launched. The qualification, equivalent to an AS-level, was the first of its kind.
In 2005 the Institute of Financial Services acquired ProShare (UK) Ltd. ifs Proshare (UK) is a not-for-profit organisation committed to encouraging employee share ownership and providing workplace financial education.
In 2006 members agreed proposals for changes to the organisation’s corporate governance and structure. Changes to the Royal Charter were approved by the Privy Council and the organisation was renamed the ifs School of Finance.
In 2010 it was granted Taught Degree-Awarding Powers (TDAP) by the Privy Council. The ifs School of Finance was now able to award both undergraduate and taught postgraduate degrees in its own right without validation from a third-party university.
In 2013 the ifs School of Finance was granted University College title by the Department for Business, Innovation and Skills (BIS) and became ifs University College.[5]
In 2016 ifs University College changed its name to The London Institute of Banking & Finance.
Qualifications
The London Institute of Banking & Finance offers Financial Capability qualifications of the Qualifications and Credit Framework for 14 to 19 year olds, taught by schools and colleges around the UK. The London Institute of Banking & Finance also offers part-time and full-time undergraduate and postgraduate degrees at its campus in London.
| Level | Name |
|---|---|
| 1 | Award in Personal Finance (AFP1) |
| 2 | Certificate in Personal Finance (CPF2) |
| 2 | Award in Financial Education (AiFE) |
| 2 | Certificate in Financial Education (CeFE) |
| 2 | Certificate in Financial Capability and Careers Development (CeFCCD) |
| 3 | Certificate in Financial Studies (CeFS) |
| 3 | Diploma in Financial Studies (DipFS) |
| 4/5/6 | BSc (Hons) Banking Practice and Management |
| 4/5/6 | BSc (Hons) Finance, Investment and Risk |
| 7 | MSc in Banking Practice and Management |
| 7 | Postgraduate Certificate in Higher Education |
| 7 | Postgraduate Certificate in Teaching Financial Capability |
The London Institute of Banking & Finance also offers a number of professional qualifications for those in the financial industry.[6]
Membership
The London Institute of Banking & Finance has been offering membership since 1879.
Student Investor Challenge
The Student Investor Challenge is an investment competition for 14- to 19-year-olds, run by The London Institute of Banking & Finance. Tens of thousands of students[7] register each year, with more than 250.000 students registering to play in the past 8 years.
Teams of four students compete by completing a number of investment challenges, including trading on the stock market with £100,000 of virtual money. Teams can win a trip to NYC or money for their schools.[8]
References
- ↑ "ifs to become London Institute of Banking & Finance". Financial Planning Today. Financial Planning Today.
- ↑ "The Old Lady of Threadneedle Street lifts her skirts". BBC News. BBC. Retrieved 17 June 2016.
|first1=missing|last1=in Authors list (help) - ↑ "Chartered bodies Privy Council". Privy Council office. Privy Council. Retrieved 17 June 2016.
- ↑ "Exams have changed with the times". Mortgage Strategy. Mortgage Strategy. 1 April 2007. Retrieved 17 June 2016.
- ↑ "University college status for ifs School of Finance". Times Higher Education (THE). Times Higher Education (THE). 12 August 2013. Retrieved 17 June 2016.
- ↑ "ifs University College qualifications". bba. bba. Retrieved 17 June 2016.
- ↑ Grubb, Sophie Grubb. "Stockbroking students go through to final of national competition". Oxford Mail. Retrieved 17 June 2016.
- ↑ "News | Tiffin School". tiffinschool.co.uk. Tiffin School.