In March 1879, a small group of bank workers came together, united by a commitment to provide leadership on banking practice that would be available to everyone working in the sector. They set up the first Institute of Bankers in England and Wales.
They organised networking meetings, lectures and other educational resources to help bank workers develop their knowledge. They established formal qualifications – recognised by the industry – and helped workers develop their careers. The Institute quickly became central to the banking community in England and Wales, and its influence spread around the world.
Timeline
1879
The Institute of Bankers was established with 1,000 members from all over the country, as well as members in foreign and other overseas banks. By the end of the year we had 2,000 members.
1987
We gained our Royal Charter and became the Chartered Institute of Bankers.
1993
We merged with the Chartered Building Societies’ Institute.
1996
We developed the first professional award linked to a university degree.
1997
Our name was changed to the Institute of Financial Services (IFS), reflecting a broadening of our services. The Certificate in Mortgage Advice and Practice (CeMAP) was introduced – the first qualification for UK mortgage professionals.
2001
The Institute of Financial Services became the first educational body in the sector to provide electronic assessment for its regulatory qualifications.
2010
We gained Taught Degree Awarding Powers (TDAP) and established full-time degree programmes at our City of London campus. We also enhanced our professional qualifications and financial capability awards.
2013
We were granted University College title and became ifs University College. Our university campus was opened at Lovat Lane in London for full-time students.
2016
We changed our name to 'The London Institute of Banking & Finance' and opened the Henry Grunfeld Library at our campus in Lovat Lane.
2017
We became an approved apprenticeship training provider and launched our first degree-level apprenticeship programme for the banking industry.
2019
On 11 March 2019, we marked our 140th anniversary and kicked off a year of celebrations – with activities including a gala event, the publication of our third book, Banking on Change, and fundraising.
To celebrate WE published a book, Banking on Change and, launched two research centres.
2020
The Covid-19 pandemic affected everyone around the globe in different ways. For LIBF it prompted a more rapid shift to providing more digital services, including remote invigilation for exams, and providing more digital content including webinars, podcasts and videos.
2021
We launched our new Centre for Governance, Risk and Regulation with an international network of experts and practitioners to offer training and thought leadership.
2023
In 2023, the educational activities LIBF were acquired by the IU Group. LIBF’s education and training activities now continue under a new wholly owned UK subsidiary of IU Group – LIBF Limited – trading as 'The London Institute of Banking & Finance' and 'LIBF'. LIBF Limited is an accredited and awarding body, providing professional qualifications, undergraduate and postgraduate degrees, and qualifications at Levels 1, 2 and 3. LIBF’s charitable object, and the awarding of chartered status, continued independently as a renamed charity – The London Foundation for Banking & Finance (LFBF).
Do you have any open questions?
Any questions about our online degrees or our professional qualifications? We are here to help: Monday to Friday from 8.00am to 6.00pm UK time.
