This document discusses blended learning approaches at Piraeus Bank. It provides an overview of Piraeus Bank, including its growth and strategic targets. It then discusses the bank's use of blended learning, when it is applied, and how courses are developed. Key points include blending classroom and online learning to reinforce concepts, ensuring the instructor is involved in course design, and not blending just for the sake of it. The document concludes with a case study on a successful blended learning initiative to sell a complex financial product.

1. Building the Business Case
for Blended Learning
George Katsouranis
Learning Manager
Piraeus Bank Group

2. A brief agenda
• Who we are
• Blended learning interventions: When,
why and what do we blend
• Developing blended courses: design
“illusions”, common “traps” and things to
avoid
• The most valuable ingredients to success
• Q&A
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

3. Who we are
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

4. A success growth story
Key Information and Figures
• Universal Bank with focus on high margin segments (SMEs and Retail
Banking)
• Fourth largest Bank in Greece, grown both organically as well as
through M&A
• Growth orientation: opportunities in Greece and the neighbouring
geographic region
• 9,803 employees and 550 Branches in 8 countries
• Successful management track record combined with young & well-
trained workforce.
• Strong technology orientation
• Assets of €34.5 bn
• Loan portfolio of €22.8 bn with a market share of 12.8% of the Greek
Market
• Ratings: Moody’s A1, S&P’s BBB+, Fitch BBB+ (positive outlook)
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

5. Who we are
Total Assets (€) 30,9 Lending Sector Market Share (%) 12,4
30 11,6
23,5 11,0
12 10,3
25 10,0
16,8 10
20 14,9 7,6 8,1
14,7
8 6,2
12,3
15 10,5 6
8,1
10 4
5 2
0,08 0,3
0 0
1991* 1999* 2000* 2001* 2002* 2003 2004 2005 2006 1991 1999 2000 2001 2002 2003 2004 2005 2006
600
Branch Network Human Resources 9.253
536
8.151
500 Greece Abroad 9.000 Greece Abroad
449
400
235 7.500
5.934
176 5.457
309 6.000
300 257 4.333 4.302 4.743
214 241 301 3.947
196 273 4.500
200 164 221 249
195 210 3.000 5.774
5.138 5.518
180 4.305
4.942
3.774 4.098 3.940
100 154 1.500
12
0 215
0
1991 1999 2000 2001 2002 2003 2004 2005 2006 1991 1999 2000 2001 2002 2003 2004 2005 2006
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

6. A success growth story
Strategic Financial Targets for the period
2007 - 2010
• After tax profit CAGR by 24% for the 4-year period 2007-
2010 (from €435 mn in ’06)
• Pre tax profit excl. trading gains CAGR by 30% for the 4-
year period 2007-2010 (from €388 mn in ’06)
• Sustainability of after tax ROE at 30% for the period 2007-
2010
• Reduction of Cost to Income ratio below 44% by 2010
• Improvement of NPLs ratio below 2.0% by 2010
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

7. Piraeus Bank Strategic HR Toolkit
•Human Resources Planning • Performance Appraisal •Identification of “talents”
Systems
•Selection and Recruitment • Coaching culture and personal development
Tools and Policies cultivation plan design
Continuous
Actively
Attracting Learning Retaining and Supporting
Managing Rewarding
the best of and Developing Work – Life
People People
the Market Knowledge Talents Balance
Performance
Sharing
•Complete Training Curriculum •Competitive compensation
•Modular “Schools” and “Academies” and benefits program •Support Policies,
•Local Knowledge Sharing Initiatives •Attractive sales bonus Wellness Programs
•e-Learning schemes
HR Metrics, Systems & Internal Communication
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

8. Where we are today
Learning & Performance Development in PBG
• A highly motivated team of 10 people
o 5 Learning Administrators + 4 Learning
Consultants
• Our resources and infrastructure
o 2 main training centers and 4 regional
o 2 e-learning dedicated servers with Net
Dimensions ekp 4.6
o PeopleSoft HRMIS
o Intranet pages
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

9. Where we are today
Our curricula
• 36 active inhouse instructor – led courses
• 120 active e-learning courses
• 3 Modular Certification Programs
• 5 Modular Schools - Academies
• Specialized External - Public Courses
• Systematic induction training for branch new
hires
• Local Product Workshop system
• Graduate Programs and Professional
Qualifications funding
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

10. Where we are today: Some Key figures
Allocation of TMH According to Learning Mean within
Piraeus Bank
200000
150000
84.392
100000 75.320
53.800
50000 31.080
80.397
62.387 58.440 41.876
0
2006 2005 2004 2003
Classroom e-learning
Training Metrics 2000 – 2006 Training Man Hours / FTE
within Piraeus Bank
805.000 Training Man Hours 40 37
(325.000 through e-learning) 35 33,21
28,45
43.000 Participants in training 30
(18.000 in e-learning) 25 20,18
20
4.000 Training Sessions
15
10
Quality Indicators 5
Average Learning Experience 0
2003 2004 2005 2006
Quality Rate: 86%
(E-Learning LEQ: 80%)
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

11. Blended learning interventions:
When, why and what do we blend
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

12. Blended Learning Interventions:
When, why and what do we blend
• Blended Learning is the combination of multiple
approaches to learning. Blended learning can be
accomplished through the use of 'blended' virtual
and physical resources (Wikipedia)
• Blended Learning is learning that is facilitated
by the effective combination of different modes of
delivery, models of teaching and styles of
learning, and founded on transparent
communication amongst all parties involved with
a course. (Heinze and Procter)
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

13. Blended Learning Interventions:
When, why and what do we blend
Results Evaluation
Results Evaluation
Coaching
Coaching
Blended Learning Action
Action
Learning
Learning
Intervention
Printed
Printed Collaboration
Collaboration
Material
Material e- Tools
Tools
om Le
ro g ar
ss in ni
la in
C a
ng
Pre-course Tr
Pre-course
Assignments
Assignments
OJT Assessments
Assessments
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

14. Blended Learning Interventions:
When, why and what do we blend
• We should blend classroom with
e-learning when:
o The subject requires pre-reading or pre-course
evaluation
o The course audience is not on the same level
o The course requires theoretical background
o To reinforce or remind knowledge acquired in
the classroom
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

15. Blended Learning Interventions:
When, why and what do we blend
• We should blend e-learning with
classroom when:
o The subject is too complicated to be covered only
through e-learning
o We need to motivate people towards a stretching goal
or to transmit emotionally charged messages
o We want to ask for feedback or generate discussions
on specific issues
o We need to conclude with an action plan
o We have to be sure that they will get all the
appropriate knowledge or skills to support or achieve
business goals
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

16. Developing blended courses:
design “illusions”, common “traps”
and things to avoid
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

17. Developing Blended Courses:
Illusions, Traps and Pitfalls
Rule No1:
Blending is not simply putting two or
more interventions together in a
sequence
The External Trade Case
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

18. Developing Blended Courses:
Illusions, Traps and Pitfalls
Rule No2:
The instructor / facilitator of the course
should be fully involved in the design of
the blended solution
The Consumer Lending Certification Case
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

19. Developing Blended Courses:
Illusions, Traps and Pitfalls
Rule No3:
Don’t blend just for the shake of
blending
The Financial Statements Analysis Course Case
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

20. Developing Blended Courses:
Illusions, Traps and Pitfalls
Rule No4:
Blending is not always the cheapest
solution
The Deposits and Means of Payments Case
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

21. Developing Blended Courses:
Illusions, Traps and Pitfalls
Rule No5:
Blending is not always the fastest
solution
The Starting Point Case
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

22. The most valuable ingredients to success
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

23. The most valuable ingredients to success
The ING Piraeus 10 Case
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

24. The most valuable ingredients to success:
The ING Piraeus 10 Case
• A bancassurance unit linked product based on a
Put Option
• Objective: €35 mn assets within 50 days
• Preparation period for the sales network
(branches): 20 days
• Preparation period to design training
interventions: 20 days
• Target audience: min 900 p in 100 cities in Greece
• High product complexity
• Only 3 instructors competent to present the
product
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

25. The most valuable ingredients to success:
The ING Piraeus 10 Case
• The business objective: Bring €35 mn
assets
• The performance gap:
o Usual production of investment products: €16 mn/month
=> €26 mn/50 d (- customers with short and middle term
horizon)
o Complex product with long term investment horizon =>
specialized knowledge required to sell the product
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

26. The most valuable ingredients to success:
The ING Piraeus 10 Case
• The design approach:
o Form the project team
o Analyze the audience,
o Set the learning objectives,
o Design & compile the most effective learning objects for
each audience
o Prepare the logistics
o Assign the appropriate means to the appropriate audience
o Communicate the intervention as a whole
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

27. The most valuable ingredients to success:
The ING Piraeus 10 Case
• Combination of means and methods
o Product briefing for Branch Managers
o E-learning for selected salespeople in branches
o Classroom training, totally complementary to e-learning
o Local Product Workshops
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

28. The most valuable ingredients to success:
The ING Piraeus 10 Case
• Involving the right people
o Get the commitment of the Area Managers and the Branch
Managers to boost training inside the branch
o Bring to the classroom the most experienced in
investment products account managers and assign them
local trainers role
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

29. The most valuable ingredients to success:
The ING Piraeus 10 Case
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

30. Discuss with your
Discuss with your
team:
team:
What are the other
What are the other
information not
information not
included here, that
included here, that
should be given to
should be given to
potential investors
potential investors
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

31. Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

32. The most valuable ingredients to success:
The ING Piraeus 10 Case
• The results:
o €35,5 mn assets
o Liquidations within 6 months: 3 customers
o c. 1820 p trained
630 of them through e-learning and local product workshop,
300 through classroom training, e-learning and local product
workshop,
300 through product briefing, and
590 through local product workshop
o Total Investment: €55.500 (€30/p or €9,56/mh)
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

33. The most valuable ingredients to success
Rule No.6:
Understand the business objectives:
Focus on the performance gap
Rule No.7:
Involve all the right people
Rule No.8:
Holistic approach in the design stage:
Combine means and methods
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

34. The most valuable ingredients to success
Rule No.9:
Get the learner to participate actively
Rule No.10:
Brand the program and promote it as a
whole
Rule No.11:
Evaluate the results together with the
business units
Rome, 5 – 6 June 2007
Rome, 5 – 6 June 2007
3rd Annual E-Learning Conference for Financial Institutions
3rd Annual E-Learning Conference for Financial Institutions

35. Building the Business Case
for Blended Learning
Thank you for your attention…
…at your disposal for questions
George Katsouranis
Learning Manager
Piraeus Bank Group
t: +302103288522 f:+302103288539
katsouranisg@piraeusbank.gr