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More than 3000 learners have passed through the doors of the National Skills Academy for Financial Services in its first year having "a hugely positive impact on the financial services sector," it has claimed.

The sector-specific academy was set up to bridge the skills gap by providing training and development from entry level through to continued professional development. It was also innovative in encouraging financial service employers to influence the curriculum, ensuring that individuals graduate with skills that match the requirements in the workplace.

Malcolm Streatfield, chief executive of Lighthouse Group, said: "Getting involved in this National Skills Academy has been a great success and has helped us to meet our own business objectives by improved leadership and management skills throughout the organisation. Our employees and customers are already seeing the benefits of our involvement through better communication and interaction among staff and management."

Tony Vine-Lott, chairman of the Skills Academy, said: "A skills academy in the financial services sector is vital not only to help attract new entrants but to improve the skills of the current workforce. In these difficult times it is more important than ever to ensure that our people are equipped with the skills needed to respond to new challenges."

David Lammy, minister for skills, said: "The National Skills Academy is helping to ensure the future growth and success of the financial services industry by taking a new approach to spotting and developing industry talent."

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