The Institute of Bankers was established in 1879. It was established by bank workers who saw a need for professional standards and education in the industry. This idea received relative popularity, gaining 2,000 members by the end of its first year. and in 1993 merged with the Chartered Building Societies Institute. In 1996, the institute offered its first degree – the BSc (Hons) in
financial services – 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. The name 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 launched the first
personal finance qualifications for young people in the UK, equivalent to an
AS-level. In the same year, the institute became the first educational body in the sector to provide
electronic assessment for its regulatory qualifications. After becoming the IFS School of Finance in 2006, the institute was granted taught degree awarding powers (TDAP) by the privy council in 2010. It was then able to award both undergraduate and taught postgraduate degrees in its own right without validation from a third-party
university. The Department for Business, Innovation and Skills (BIS) granted the title 'University College' in 2013, and in 2016 the Institute became The London Institute of Banking & Finance. On 31 March 2023, the institute changed its name to the London Foundation for Banking & Finance, retaining its status as an educational charity, and a new limited company, LIBF Limited was created. The institute's operations and Ofqual-recognised awarding powers were transferred to the new company on 31 March 2023. On the same date, the new company became a wholly owned subsidiary of IU Group, owners of
IU International University of Applied Sciences based in Erfurt, Germany. The institute's activities remain unchanged but, as a result of the constitutional change, LIBF Limited lost the right to use the title 'University' or 'University College'. The ongoing educational charity, now known as the London Foundation for Banking & Finance (LFBF) continues to award Chartered Associate status and to carry out the institute's various charitable activities. In 2025, LIBF expanded to offer qualifications on topics beyond banking and finance. To reflect this broader focus, the institution changed its name to Walbrook Institute London in 2025. The new name references the subterranean
River Walbrook. LIBF remains a key part of Walbrook Institute, continuing to oversee its banking and finance qualifications. ==Academic profile==