How Loqbox cut compliance training time in half and saved admin hours

Why compliance training matters

Interviewer: Why is compliance training so important for your team?

Cassidy Banks: As a regulated business, there's certain training that we have to make sure that our staff have, but we also supplement this with other training to make sure that staff are able to demonstrate competency within their roles and make sure that we do the best for our customers.

Why Loqbox chose 5Mins

Interviewer: What made 5Mins the right choice for Loqbox?

Cassidy Banks: The reason that Loqbox decided to go with 5Mins was that the platform itself is really intuitive. Staff can do their training in little bite-sized chunks rather than having to do the whole course at once. And there was a real time saving as well between the other providers in terms of how long each course was and how long the company as a whole would spend on training.

Training times

Interviewer: What differences have you seen in training times compared to your previous provider?

Cassidy Banks: Across the board, 5Mins is a shorter duration for all courses that we have seen, but there's one in particular where it's gone from just under an hour down to 25 minutes, which obviously helps with staff engagement and it saves us all those people hours as well.

Format and accessibility

Interviewer: How does the format and accessibility of 5Mins compare to your previous platform?

Cassidy Banks: Our previous provider, staff could only do it on their laptops, whereas now they have the option to do it on the app as well should they wish to. And in terms of the format, previous provider, it was written only, whereas now all the courses have written and audio, so we're finding that that's helping staff who learn through different means as well to complete their training in a way that works for them.

The rollout

Interviewer: How did the rollout go across the business?

Cassidy Banks: When we rolled it out, we did it in one go, so straight from one platform to the other. We were also able to capture completion dates from the old provider and move that over to 5Mins, so staff weren't having to redo training again if they completed it recently. We were able to move everybody over, and when that next due date came up, that's when they'll get their training, so we didn't have to duplicate training for staff.

Completion rates

Interviewer: What have completion rates looked like since switching to 5Mins?

Cassidy Banks: We found that completion rate has gone up overall. Staff are now able to also see scheduled training, so what's coming up rather than just what they have to complete at that time, which is helping people to plan in the future and plan time in for their teams to get their training done.

Admin time saved

Interviewer: How much admin time has 5Mins saved you personally?

Cassidy Banks: In terms of myself as somebody who has to be the administrator of the system, it's saved me a lot of time. I've managed to set up automated monthly reports that go to department leads so that they can ensure their teams are staying up to date, rather than me having to chase people individually.

Regulatory updates

Interviewer: How quickly are courses updated when the regulatory landscape changes?

Cassidy Banks: One key difference we've seen between our previous provider and 5Mins is that when there's a change in the law or the regulatory landscape, 5Mins courses are updated. If there's something new coming out, they'll have a course readily available for that ahead of time as well.

Choosing a provider

Interviewer: What was your process for selecting 5Mins over other providers?

Cassidy Banks: We looked at several other providers when we knew we wanted to change over. A couple in terms of price were just non-starters. We are a small company, we don't have an unlimited budget for these sorts of things, like a lot of SMEs.

The team were really easy to deal with, the brochures were made available, we got given access so that we could try the courses out for ourselves. We were given access to really have a play around with the system to see if it would work for us in the business.

What comes next

Interviewer: Where do you see your partnership with 5Mins heading next?

Cassidy Banks: We've seen that there's a business need for lots of the other courses that they're offering in the people space as well as the regulatory compliance space. And we are hoping to have a little play around with some of the AI features in the near future.

Advice for compliance managers

Interviewer: What would you tell another compliance manager considering 5Mins?

Cassidy Banks: If you are considering moving to 5Mins and you are somebody that's responsible for the administration side of training, I definitely recommend them. It has saved me hours and hours in terms of reports, making available new training for staff. When a new starter joins, everything's already set up, there's no more admin. I just add them and it's able to allocate appropriate training depending on what department they're in, depending on what role they have. It's all automated and it saves a lot of time.

Favorite part of the format

Interviewer: What is your favorite part of the 5Mins training format?

Cassidy Banks: My favorite bit about 5Mins from an administrative side and from somebody who sits in a risk and compliance seat is that it tests understanding as the course goes on, rather than just a big question set at the end. It actually asks questions throughout, which means that staff have to remain engaged from beginning to end and have to continue to pay attention and take in the information that they're looking at.

From a compliance perspective that's what we want, engagement. We want people to be paying attention and understanding as they go, not just trying to pass ten questions at the very end.

Feedback and feature requests

Interviewer: How receptive is the 5Mins team to feedback and feature requests?

Cassidy Banks: Whenever there's something that's been a potential gap or something that we'd like to have, they've always been really accommodating. Either it's in the works already or it's something they're happy to add to their list.

One example is that we have some staff that go on maternity leave or they're going to take a bit of time off, and we don't want to delete them altogether as a user but we'd like to deactivate them or have them archived somewhere, and that feature got released just this month and that's been really helpful. But they're always really receptive to feedback and to trying to improve the user experience where possible.