The challenge
Complicated and confusing payment process
Kingston University has over 6,800 overseas students, from more than 140 countries around the world. It is important for the students and the university that tuition and accommodation payments are made quickly and efficiently, with the minimum of fuss.
However, in the past Kingston offered multiple payment options to students which meant that take-up of the most efficient option, Convera’s GlobalPay for Students, was low and costs were high. An inconsistent approach to communications also created confusion amongst students, which resulted in high numbers of enquires and unsolicited direct bank transfers to the university. Often payments were short and poorly referenced, forcing the finance team to follow up with students, who might be unaware of the shortfall on their account.
This led to increased costs for the university and saw both the finance team and students spend valuable time investigating pending payments or resolving queries. Ultimately, the student experience was less than positive when payments weren’t received smoothly.
The solution
A system review and a marketing communications overhaul
Convera’s account management team developed a two-pronged plan of action. First, they conducted an audit of payment trends, diving into the data to understand the students’ and the university’s evolving requirements and priorities. They also streamlined the payment and collection process to make it easier to choose the most efficient choice and offered additional options such as card payments to meet student needs.
Next up, the team implemented several new communications initiatives, including a website update and co-branded marketing collateral targeted at specific audiences. This helped raise student awareness and directed them to the most efficient payment methods, making the process much more intuitive.
By optimizing the existing system and leveraging the resources already in place, the team was able to make a big impact for a minimal investment by the university. A series of quick wins that made quite an impact.
The results
Increased efficiency & an easy way for students to pay
The results have been tangible, and remarkable now that the payment process is automated, smooth, and intuitive. There has been a 260% uplift in students using GlobalPay for Students, which means the university has saved money on both merchant fees and administration costs. Combined with a reduction in queries that the finance team must manage, Kingston University estimates the total savings to be around £300,000. The university even reports a much smoother student enrolment process due to the positive impact on the international student experience.
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