KCB Bank Group’s Post

The Convera and IODM partnership continues to revolutionise debt collection and payment plans for HE institutions in the UK and worldwide. Having been worked on a few implementations over the past year, it is great to see the impact of the partnership within university finance and credit control teams. We now have a percipient batch of testimonials and the effusive nature of these speaks volumes. If there are any universities out there struggling with their debt collection or payment plan offering then please reach out... #Convera #IODM #PaymentPlans #StudentPayments #CreditControl

Aspire cash gives unrivalled data insights and reporting. Each time a student makes a cash withdrawal a reason for the funds is selected, and these can be personalised per institution. This builds up a rich picture of student need, providing valuable data for regulatory reporting, and enabling improved tailoring of future support. #PaymentsWithPurpose Payit™

Embracing modern #payment solutions is more than just a trend in Australia's #education sector; it's about creating seamless, hassle-free experiences for students and the educational organisation. As Mark Healy, CEO of Novatti, highlights, "Modern payment solutions play a critical role in the education sector. They have the potential to leave a lasting impression on students and their families by reducing friction and delivering a superior experience." Learn more about how innovative payment solutions are empowering educational institutions: https://lnkd.in/gaNH6qRJ

Two years ago, we didn’t have a payment plan proposition. Today we have over over 50,000 students having their payment plans managed by their institution via our payment plan function - and growing by the week. The team at IODM have done some serious work in building a best in class product that allows both the student to set up their own plan fully automated or the finance team to set them up for the students. Some key features include: - Multiple options to be presented to the student allowing them to select the payment structure that works best for them. - Present payment plan options only to relevant students or for specific types of invoice/outstanding payment. - Create different structures for different groups of students - for example international students instalments are different to domestic student instalments. - White glove service allowing completely bespoke plan structure for specific student scenarios. - Fully automated creation of reminders to be sent when instalments are due. - Automatic cancellation of plans should instalments be missed with reminders then reverting back to the full balance outstanding. In addition to this, all communications link seamlessly into our partners Convera allowing students to select the right payment method for that particular time. The first instalment might be paid by international bank transfer in the students local currency. The last might need to be paid on a credit card. By giving the student the choice of payment method at every instalment, the payment success rate immediately increases. With more improvements and developments just around the corner including bulk application of a payment plan structure to groups of selected students, now is the time to talk to us about how we can create a world class payment journey for your students and drastically reduce the manual processes involved for your finance teams. #universities #automation #students #studentpayments #accountreceivables #paymentplans

I played a key role in creating the UK's digital personal tax account, which set new global standards for government digital services. I'm excited to see how personal data is being leveraged with AI and improved compute capabilities to create new business models and valuable consumer solutions. The digital personal tax account helped shape UK open banking by enabling seamless data sharing, reducing friction, and minimizing the need for user-inputted data through APIs, pre-population, multifactor authentication, and a single government gateway all within the digital customer journey. The shift from open banking to a broad reaching Smart Data roadmap is exciting. Data sharing within open finance will soon extend to include investments, insurance, mortgages, and pensions. These sectors, with low customer engagement, are all ripe for disruption by startups using new technologies and #AI, like #fintech's such as Chime, Nubank, Revolut, and SoFi have successfully demonstrated with open banking. Here's a link to an insightful article by Nick Huber with practical insights from Pritam Basu on these developments, published by the The Chartered Institute for Securities & Investment (The CISI) Review, under the leadership of Tracy Vegro OBE, my former Civil Service colleague and #Whitehall sponsor in the prestigious Civil Service secondment program that drove collaboration at senior levels between the public and private sectors. https://lnkd.in/ej3W2sAU #AI #AIForAll #ArtificialIntelligence #CISI #CISIReview #civilservice #DigitalTransformation #EthicalAI #FutureOfFinance #FinancialServices #Fintech #GenAI #HMRC #insurance #investment #makingtaxdigital #mortgages #MTD #OpenBanking #OpenFinance #pensions #securities #SmartData #TechTrends #Whitehall #Chime #Nubank #Revolut #SoFi

I had an interesting conversation this afternoon regarding an initiative to digitize MSMEs. One of the opportunities identified is in the area of digital payments, i.e., how they pay their suppliers and also how they get paid. Knowing that MSMEs have very small operations with a handful of employees, it make sense for them to adopt solutions that are simple, safe and efficient. Payment information can play a critical role in running a business, whether big or small. What information are required for buyers and sellers to be able to effectively communicate with each other? What has been established is that payment information is not owned by the banks or financial service providers, instead, they are mere stewards and messengers of the information exchange between the payors and their beneficiaries. In fact, FATF Payment Transparency principles require that all information provided with the payment should be passed on to the beneficiaries. As we progress with ISO20022 (payment information), there is a significant opportunity to deliver payment information to the end users who can demand more transparency from their financial providers to ensure that payment information id carried all the way through. After all, banks and financial service providers are only processors of the information, these are ultimately owned by the end-users. I encourage everyone to choose financial service providers that are progressively taking steps to bring payment information closer to their clients. These are the ones that will be able make a difference in the evolving payments landscape. #paymentinformation #ISO20022

Discover How Smart Software Can Transform UK Schools! In partnership with Education Today, we hosted an insightful webinar exploring how schools and Multi-Academy Trusts can use smart technology to overcome financial and operational challenges. 👉 Watch on-demand here: https://ow.ly/NiEX50TRkPr #EdTech #EducationInnovation #SchoolManagement #FinancialResilience #DigitalTransformation #Civica

Department for Transport (DfT), United Kingdom have now issued their #BSIP 2024 document. The key themes for the 2024 BSIP are as follows: • Updating the baseline to 2023/24: updating the 2021 BSIP’s account of the current situation to reflect all developments since 2021, including evolution of the local bus market post-pandemic and its issues and opportunities; highlighting achievements made since 2021 in progress with the delivery of locally-driven change whether through Enhanced Partnership and/or franchising schemes. • Setting out the improvement programme in financial year 2024/25: to reflect the known funding envelope of BSIP funding (phases 1, 2 and 3, as relevant to each LTA) and all other funding sources for BSIP delivery, including the LTA’s own resources. • Getting ready for 2025 and beyond: refreshing the plan’s ambition and content to set out a high quality and flexible pipeline of prioritised proposals for the four years 2025/26 to 2028/29, nested within the BSIP’s overall 10 year plus vision, attractive to funders, and ready for delivery as opportunities for funding arise. #BusServiceImprovementPlans #NationalBusStrategy #BusBackBetter Chartered Institution of Highways & Transportation (CIHT)

𝐋𝐞𝐯𝐞𝐥 𝐮𝐩 𝐲𝐨𝐮𝐫 𝐌𝐒𝐌𝐄 𝐰𝐢𝐭𝐡 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐬𝐮𝐩𝐞𝐫𝐩𝐨𝐰𝐞𝐫𝐬! From super-charged credit to e-commerce domination, digital tools are taking MSMEs to the next level! This World MSME Day, let's celebrate the rise of the digital MSME warrior! Read more #ETInsights #Digital #MSMEs #WorldMSMEDay #GrowthHacking #Ecommerce Prakash Sankaran

At a gathering of distinguished representatives from the Institute of Bankers of Sri Lanka - IBSL Accredited Centers, I had the opportunity to showcase the significant advancements achieved in IBSL's journey of digital transformation. It was a privilege to provide valuable insights into how technology is reshaping the realm of banking education and training. It is truly an honor and a privilege to have been actively involved as a key contributor to this significant digital transformation journey of IBSL. Throughout the discussion, special attention was devoted to two crucial components: The MyIBSL and AI Proctored Examinations. AI-proctored exams, driven by cutting-edge artificial intelligence technology, serve a critical role in safeguarding the integrity of online assessments. Given the growing reliance on remote learning and evaluations, AI-proctored exams are indispensable for upholding academic standards and ensuring equitable treatment for all candidates. These exams offer a host of benefits, including heightened convenience, enhanced accessibility, and fortified security measures. By harnessing AI algorithms, these exams can effectively detect and thwart cheating behaviours, such as unauthorized resource access, impersonation or diversion of attention from the screen. We plan to conduct an AI Proctored Online Exam for IBSL New Curriculum, 2023. By embracing technology, IBSL is empowered to craft captivating educational content, monitor student progress with precision, and dynamically adapt teaching methodologies in real-time, providing all the services to our students in the optimal way. This embrace of innovation heralds a new era of enriched educational experiences and enhanced academic outcomes. #IBSLDigitalTransformation #BankingEducation #TechnologyInEducation #AIProctoredExams #RemoteLearning #EducationalInnovation #DigitalLearning #FutureOfEducation #IBSLAdvancements