The London Institute of Banking and Finance, is a registered educational charity incorporated by Royal Charter. Established in 1879 as the Institute of Bankers, The London Institute of Banking and 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 Institute of Financial Services in 2006 and then from ifs University College in September 2016.
It was founded in 1879 as the Institute of Bankers with the coming together of 1,000 bankers from all over the country, including people working in foreign and colonial banks. By the end of the year, the Institute had 2,000 members.
It gained a Royal Charter in 1987 becoming the Chartered Institute of Bankers.
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.
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 organisations 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.
In 2016 ifs University College changed its name to The London Institute of Banking and Finance.
The London Institute of Banking and 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 and Finance also offers part-time and full-time undergraduate and postgraduate degrees at its campus in London.
The London Institute of Banking and Finance also offers a number of professional qualifications for those in the financial industry.
The London Institute of Banking and Finance has been offering membership since 1879.
The Student Investor Challenge is an investment competition for 14- to 19-year-olds, run by The London Institute of Banking and Finance. Tens of thousands of students 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.
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