The verdict in three sentences
For 1,500 learners, a SaaS LMS billed at EUR 4 to 9 per learner per month becomes the most expensive option over 4 years, even after negotiation. Self-hosted Moodle is the cheapest route if you have a team able to maintain it, but its usability and HR system connectors need an adaptation budget that is often underestimated. A custom platform at EUR 40,000 to 90,000 makes sense when regulatory traceability (insurance distribution, AML, compliance) and the HR system link are priorities.
Traceability obligations in banking and insurance
A group of bank branches and insurance brokers must prove, at any time, that every employee completed their mandatory training. When the regulator audits (DNB and AFM in the Netherlands, ACPR in France), the export must be immediate, named and timestamped.
| 2026 obligation | Who is concerned | Proof required |
|---|---|---|
| IDD (insurance distribution) | Staff distributing insurance | 15 hours a year minimum, content and duration tracked |
| AML/CFT | All customer-facing staff | Annual training, named certificate |
| Investment advice certification | Investment advisers | Exam passed, score archived |
| Mortgage credit (MCD) | Credit advisers | Initial training plus annual refresher |
| GDPR and security | All employees | Annual awareness, proof of completion |
| Retention period | All evidence | 5 years minimum after training |
A spreadsheet or paper sign-in sheets will not survive an audit covering 1,500 people and 5 years of history.
Moodle, SaaS LMS or custom: 2026 comparison
| Criterion | Self-hosted Moodle | SaaS LMS | Custom platform |
|---|---|---|---|
| Setup | EUR 8,000 to 20,000 | EUR 2,000 to 10,000 | EUR 40,000 to 90,000 |
| Annual recurring cost | EUR 10,000 to 25,000 (hosting, maintenance, updates) | EUR 4 to 9 per learner per month, so EUR 72,000 to 162,000 | EUR 9,000 to 18,000 |
| 4-year cost (1,500 learners) | EUR 48,000 to 120,000 | EUR 290,000 to 658,000 | EUR 76,000 to 162,000 |
| HR system link (joiners, leavers, roles) | Plugin to adapt | Vendor-dependent, often paid | Native |
| Automatic regulatory paths by role | Complex configuration | Partial | Custom rules |
| Evidence export for the regulator | Reports to build | Standard | Exact format required |
| Mobile usability | Decent with a paid theme | Good | Designed for your use cases |
| Data hosting | Your choice | Vendor's, sometimes outside the EU | Netherlands or EU, your choice |
SaaS vendors often grant 30 to 50% discounts above 1,000 learners. Even at EUR 3 per learner per month, the bill reaches EUR 54,000 a year.
What EUR 40,000, 65,000 or 90,000 buys
| Level | Budget (excl. VAT) | Timeline | Features |
|---|---|---|---|
| Core | EUR 40,000 to 50,000 | 10 to 12 weeks | Catalogue, learning paths, quizzes, PDF certificates, SSO login |
| Compliance | EUR 55,000 to 70,000 | 12 to 16 weeks | Core + automatic assignment by role via HR system, reminders, regulatory exports |
| Group | EUR 75,000 to 90,000 | 16 to 20 weeks | Compliance + virtual classrooms, multi-entity, manager dashboards, SCORM and xAPI |
| Option | EUR 5,000 to 12,000 | 3 to 4 weeks | Offline mobile app for branches |
| Option | EUR 4,000 to 8,000 | 2 to 3 weeks | Migration of 5 years of training history |
The platform accepts existing SCORM content: modules bought from training providers stay usable at no extra cost.
Mini case study
Nathalie, head of training at a 1,500-employee banking and insurance group, compares a SaaS offer negotiated at EUR 5 per learner per month with a custom Compliance-level platform at EUR 65,000 plus EUR 12,000 a year for maintenance.
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- SaaS over 4 years: 1,500 x 5 x 48 = EUR 360,000.
- Custom over 4 years: 65,000 + 4 x 12,000 = EUR 113,000.
- Saving: EUR 247,000 over 4 years.
- Admin gain: HR system sync removes about 400 hours of data entry a year, worth EUR 16,000 in loaded cost.
Break-even in under 10 months.
FAQ
Isn't Moodle free?
The software is, running it is not. Secure hosting, updates, theme, plugins and support cost EUR 10,000 to 25,000 a year for 1,500 users, before adapting it to your HR system.
How long does a custom platform take to roll out?
Allow 10 to 20 weeks depending on the level, then 4 to 6 weeks of phased rollout per entity. This year's mandatory courses can be migrated first.
Will it work with our existing content?
Yes, if it supports SCORM 1.2 or 2004 and xAPI. Around 90% of off-the-shelf e-learning modules follow one of these standards.
Where is employee data hosted?
With a host in the Netherlands or elsewhere in the EU, ISO 27001 certified. Secure hosting costs EUR 300 to 900 a month.
Can training subsidies fund the project?
Platform development is generally not eligible. The training content delivered on it may qualify under sector training funds (O&O funds in the Netherlands, OPCO in France).
Let's scope your project. Tell us your number of learners, regulatory obligations and HR system, and we will price a platform between EUR 40,000 and 90,000 with a 10 to 20 week rollout. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
