Money is at its most powerful when it moves and as financial technology (fintech) evolves, money is moving faster and more seamlessly than ever.
This truism has never been as obvious as during the last 10 months; the digital payments sector saw an enormous uptick in usage (and innovation) as the pandemic pushed us all towards a more digital money world.
Making a payment has never been easier
Payments and the way money is distributed to a beneficiary have changed dramatically. Whether it be transferring an instant payment to someone else, paying for a takeaway via an app like Deliveroo or Uber Eats, or even making a hardship payment to a student in sudden financial distress while you are working remotely.
Technology is facilitating an increase in the number of options we all have, reducing the cost, streamlining the process and increasing the security. All the while putting the power in our very own pockets.
Instant payments for student funding
That’s why, at Blackbullion, we are adding a payments function to our online funds management system. It’s the final piece of the puzzle and one that students have told us will have a big impact.
After all, today’s students have only ever known a world where everything can be accomplished with a finger swipe on a smartphone. We believe funding should be no different.
Imagine a seamless, intuitive and streamlined student journey, all the way from searching for available financial support to getting the funds paid into their account – that’s what we’re building.
We have facilitated thousands of student funding applications across almost a dozen campuses since launching the Funding Tool in October 2020. Adding the ability to authorise and make a payment at the end of the process ensures a true end-to-end solution, which will better service our partners and improve the funding experience for students.
Be first to find out about the latest developments to our Funding Tool and the new payments feature by signing up to our staff email newsletter.