Flywire Corporation (Nasdaq: FLYW), a global payments enablement and software company, today announced an expanded partnership with Workday, Inc. that will integrate Flywire’s payments and software platform with Workday Student, a student information system (SIS) that automates and streamlines student operations, financials, academic planning, and registration. Now a Workday Certified provider, Flywire’s innovative integration streamlines how global higher education institutions who are utilizing Workday Student can manage their billing and payments processes, while improving administrative efficiency.
Workday Student streamlines administrative processes by unifying academic records, financial aid, student billing, and academic advising in a single system, eliminating data silos and reducing manual work. Its modern, mobile-friendly interface enhances the student experience by providing easy access to course registration, degree progress tracking, financial information, and more. For administrators and faculty, Workday Student delivers powerful analytics and reporting capabilities that support student engagement and data-driven decision-making.
Integrating Flywire’s specialized payments and software technology with Workday Student creates an efficient, transparent financial ecosystem for global education. Now, institutions using Workday Student can offer a streamlined payment experience with hundreds of payment options to their students and families directly within their student account, without significant IT investment. Additionally, Flywire helps students and families easily make and track payments in native currencies within the familiar Workday Student interface.
In addition to having a Workday Certified Integration for its payments capabilities, Flywire is also able to integrate its Student Financial Software (SFS) solution with Workday Student to help institutions manage dynamic payment plans and past-due collections. Real-time data synchronization via Flywire’s API also ensures that students and families always access the most current account information within Flywire’s portal, where they can easily view account details, retrieve 1098-T forms, make payments, and enroll in flexible payment plans. This secure, user-friendly process significantly reduces billing and payment inquiries to administrative teams by up to 40%.
Furthermore, all payment and payment plan updates are automatically posted back to Workday Student in real time, providing administrators with a comprehensive view of student financial activity and enabling them to access detailed transaction reports and self-service options directly within Flywire’s solution. An additional benefit for colleges and universities using Workday Student is that Flywire also handles 529 disbursements, digitizing payment processing and automating cashiering with real-time posting so that student accounts are always up to date. Flywire’s 529 disbursement solution also removes the need for paper checks, improving process efficiency and expediting payment delivery.
“By integrating with Workday Student, we’re providing a comprehensive solution that benefits both institutions and their students, delivering transparency, convenience, and security throughout the payment process,” said David King, CTO of Flywire. “We’re thrilled to work together to deliver meaningful value to higher education institutions and families alike.”
Key Benefits for Educational Institutions:
● Automatic Student Information Capture: Customized payment portals capture all relevant student identification data, ensuring 100% of payments received are accurately identified.
● Streamlined Student Experience: Students can view their account balance and make a payment all in a singular workflow helping to reduce inquiries.
● Reduced Administrative Burden: The solution automates reconciliation, posting payments to the correct student records and eliminating time-consuming tasks related to identifying and matching individual payments to bank statements.
● Enhanced Security: By eliminating the need to publicly display or distribute bank details, institutions significantly reduce fraud risk.
● Around-the-Clock Multilingual Support: Flywire provides around-the-clock support in more than 30 languages via chat, phone, and email, serving as an extension of the school’s services.
“The integration between Workday and Flywire has improved both efficiency and the overall payment experience for our students. Flywire has significantly streamlined our payment processing, and with the new automated posting of domestic, international, and 529 wire payments, we’re seeing faster reconciliation and fewer manual interventions. The integration with Workday ensures we can deliver a more seamless and embedded payment experience for our students.” Amherst College
Resources
– To learn more about Flywire’s enhanced integration with Workday, visit https://www.flywire.com/industries/education/partners/workday
– To learn more about Flywire’s comprehensive solutions for U.S. higher education visit https://www.flywire.com/industries/education/solution
