IU Group, a pioneer in delivering high-quality education, leveraging technology and innovation to meet the changing needs of students, has acquired a professional body, the London Institute of Banking & Finance, for an undisclosed sum. The purchase was made official on 31 March 2023 and took effect immediately. Due to its strong heritage and long-standing history and tradition, LIBF’s mission will stay the same.
IU’s flexible online approach and use of technology and innovation in the classroom prove to be a winning formula for students. Regardless of where one lives or how much time one has, IU students can study at their own pace, which is particularly appealing to those juggling work, family and other commitments. This tried and tested approach will be incorporated in newly co-developed online degree programmes at LIBF as part of IU’s multi-brand platform strategy. New online study programmes offered at LIBF are focused on data and computer science, artificial intelligence and international business management – critical skills needed in finance and business today.
Started its operations in 2000, IU aims to give as many people as possible worldwide access to personalised education. The University has now represented in more than 30 German cities, cooperates with over 15,000 companies and actively supports them in developing their employees. Its partners include Motel One, VW Financial Services and Deutsche Bahn.
Speaking about the acquisition, the Chief Executive Officer of IU Group, Dr Sven Schuett, said:
We are excited to welcome LIBF to the IU family. As we continue to grow, we enter a new era with LIBF allowing us to continue building on our mission that everyone can access education to grow. Through LIBF’s expertise in the banking and finance world and IU as a leader in EdTech, we see great potential for creating synergies that afford students a top-rated and customisable education no matter where they live.
Schuett added:
With the expansion of AI in the education sector, our students are able to stay ahead of the curve with flexible and innovative learning models in digital education.
With more than 100,000 students, IU International University of Applied Sciences (IU) is the largest University in Germany. The private, state-approved educational institution with its main campus in Erfurt brings together more than 200 bachelor’s and master’s programmes under one roof, which are offered in German or English. Students can choose between dual studies, distance learning and mystudies, which combines online and face-to-face events, and design their studies independently with the help of a digitally supported learning environment.
Chief Executive Officer of Alex Fraser, LIBF, commented:
This partnership represents an important evolution for LIBF and will allow us to make significant advancements for the future – bringing advantages and new opportunities to our students, members and staff as we look to extend our services around the world. It’s a fantastic opportunity for LIBF to partner with one of Europe’s most successful and technology-enabled education businesses.
The London Institute of Banking & Finance (LIBF), which joins the IU group as a wholly owned UK subsidiary, has provided industry-leading education and financial sector qualifications since 1879. With a focus on vocational training, the institute delivers a broad range of capabilities and programmes to support banking and finance professionals at each stage of their careers – from entry-level to advanced professional qualifications.
