IFS SCHOOL OF FINANCE
BRIEF HISTORY

The ifs School of finance is the new name for the Institute of Financial Services (ifs). The ifs School of Finance is a registered charity incorporated by Royal Charter. It provides financial education to financial services professionals all over the world, and to consumers in the UK.

Originally the Institute of Financial Services (IFS) was the official brand of The Chartered Institute of Bankers(CIB). Founded in London in March 1879, the Institute was one of the oldest professional bodies in the world. One of its main aims was always to provide a range of qualifications geared to the needs of the industry, and there is now a worldwide membership of over 40,000, from over 150 countries and many more than that number working towards its qualifications.

The value of the Institute’s work was recognised in 1987, when it was granted a Royal Charter, and became The Chartered Building Institute of Bankers. In July 1993, the Institute merged with The Chartered Building Societies Institute, illustrating its commitment to provide the highest possible standards within the financial services industry.

The Institute offers a series of professional examinations to its members and customers ranging from regulatory products, such as the Certificate for Financial Advisers – a licence to practise -  to its groundbreaking BSc Hons in Financial Servises/Associateship awarded jointly with the University of Manchester Institute of Science and Technology (UMIST). Increasingly, the Institute is asked to customise awards for individual employers. It has also developed expertise in the accreditation of work-based learning, reflecting increasing specialisation and the competitive market place in which it operates. The ifs brand name is a powerful indicator of the range of the range of its activities.A vast array of other services are offered to members to keep them in touch with the latest developments in their profession. These include Continuing Professional Development; two monthly magazines, “Financial World” and “ifs news”; a library and information service, which houses one of the most comprehensive collections of financial and commercial publications in the United Kingdom; and a programme of professional development courses, offering seminars and lectures for both members and non-members.

In addition, the Institute has a local center network of 10 regional networks in the UK and 12 overseas. These centres offer a full programme of activities, organised by voluntary committees of local bankers and, increasingly, host “prestige” events. The Institute also owns a specialist bookshop, which operates a global mail order service.

During the Institute’s 127 years, there have been many radical changes in banking and finance, and the services and qualifications which the Institute offers have adapted to these changes. Its roots are firmly planted in the City, but its influence and aspirations are truly international.

The ifs’ School of Finance products and services encompass both qualifications and a wide range of CPD-linked events and services developed for the regulatory market; for retail, corporate and investment banking; for the insurance sector; and, in terms of formal education in financial literacy, for schools, colleges and other relevant community sectors.