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Flywire Corporation (Flywire) (NASDAQ:FLYW) reaffirmed its commitment to the U.K. higher education sector, unveiling enhancements to its successful Student Financial Software (SFS) solution. With powerful direct integrations into ERPs Banner Ethos and Unit4 (Agresso), Flywire delivered its first SFS implementations featuring real-time student account presentment for U.K. customers, which is then linked to Flywire payment capabilities. Flywire also introduced an enhanced solution to enable U.K. higher education institutions to automate and manage the U.S. loan disbursement process.
Flywire's SFS Solution Solves an Unmet Need for U.K. Institutions
Currently, many higher education institutions in the U.K. lack a unified student portal offering. The payer and administrative experiences are often disparate and frustrating for payers and manual and time-consuming for administrators. In particular, U.K. institutions are challenged with enabling students to see an accurate and up-to-date account balance, providing students with flexible payment plans, and burdened with time spent sending billing and payment communications manually.
Flywire's SFS solution solves these client problems by providing a full service student account portal that sits on top of a school's receivable system and offers payers robust self-service functionality. This includes viewing account details in real time, making one time payments, enrolling in payment plans, automated communications, access for authorised users, and more.
Building on its successful track record with education payments in the U.K., Flywire continues to invest in its SFS solution to meet client demand. With real-time integration into institutions' finance systems critical for improved visibility and streamlined reconciliation, Flywire successfully launched three new SFS implementations specifically for clients running on Unit4 (Agresso), one of the most broadly used ERPs in the UK higher education sector, as well as one client running on Banner Ethos. Additionally, these clients also benefitted from first-of-its-kind functionality, including payment plans, real-time payments and real-time student account information, enabling payers to view up-to-date and accurate account balances and make immediate payments. The speed and success of these launches, with all three design partners live ahead of the summer peak, underscore the strength of Flywire's product and the impact of its continued investment in implementation resources to support growing demand.
One design partner, Kingston University, deployed Flywire's SFS solution as they required a modern and intuitive student portal that surfaced debt from their Unit 4 finance system in real-time to help enhance the student payment experience, all while driving significant back-office efficiencies across their internal teams.
The impact of the implementation was immediate, with the portal going live ahead of the new academic year. Since its launch, the university has seen marked improvements in student satisfaction and has freed up staff to focus on more meaningful engagement with students.
Posted In: FLYW
