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BVS Performance Systems is a developer of interactive bank training, credit union training and learning management systems (LMS). The company has more than 1,000 bank and credit union customers around the United States. Its products include training libraries of self-study and instructor-led courses on regulatory compliance, lending, teller skills and other financial services subjects.

Company history

BVS is a privately owned company, which was founded in 1975 in Cedar Rapids, Iowa. Originally, BVS was a video production company named Videa, Ltd. Among its earliest customers was a Midwestern bank that needed a video to train tellers about how to cash checks. The company also developed marketing and training videos for companies including Amana Heating & Air Conditioning, Maytag Corporation, Johnson & Johnson, Deere & Company, Rockwell International Corporation, Raytheon Company and Massey-Ferguson.

In 1982, the company adopted the name Bankers Video Service and introduced a video-based training library. The name was later changed to BVS Performance Systems as the company adopted other technology. BVS introduced its computer-based training (CBT) products in 1993. They were delivered on diskettes and later on CD-ROMs for use in personal computers and on computer networks. In 1998, BVS began delivery of online bank and credit union training. It later developed a customer relationship management (CRM) system.

Regulatory impact

The training needs of depository institutions — banks, thrifts and credit unions — often are driven by federal legislation and implementing regulations adopted and enforced by the Federal Deposit Insurance Corporation, the Federal Reserve System, the Office of the Comptroller of the Currency, the Office of Thrift Supervision and the National Credit Union Administration.

As depository institutions were required to comply with new regulations or face significant monetary penalties in the 1990s and early 21st Century, they increasingly turned to outside training providers to meet government requirements. This is reflected in the growth of banking-oriented training overall and specifically in the growth of BVS’ course offerings to include more than 100 on compliance subjects. Passage and subsequent amendment of laws such as the USA Patriot Act, the Bank Secrecy Act, the Truth in Lending Act and the Truth in Savings Act each led to increases in the demand for training among depository institutions.