BOSTON and NEW ORLEANS, March 28, 2023 (GLOBE NEWSWIRE) -- Today, Flywire Corporation (Flywire) (Nasdaq: FLYW), a global payments enablement and software company, announced that it has been named the 2022 Ellucian Partner of the Year for Integration Excellence, which was announced at the Ellucian Live conference. Flywire’s award-winning integrations with Ellucian, a leading higher education technology solutions provider, are part of their enhanced partnership that improves the payment experience for students, and delivers operational efficiencies for higher education institutions. Flywire and Ellucian have enhanced their integrations with a number of Ellucian’s flagship products, including Ellucian Banner, through Flywire’s new middleware that accelerates the integration and implementation process with Flywire's higher education solutions.
“We’re thrilled to recognize Flywire as our 2022 Ellucian Partner of the Year for Integration Excellence,” said Zach Tussing, Director of Partnerships, Ellucian. “The Flywire and Ellucian teams have been working closely together to deliver an improved integration and an innovative customer experience. Flywire’s powerful global payments network and payments software, integrated with Ellucian’s suite of products, will deliver significant improvements for institutions around the world.”
As part of its award-winning partnership, Flywire integrates directly into Ellucian’s new Payment API Layer, Ellucian Payment Service. As a result, Flywire helps universities to automatically power transactions, ranging from initial application fees, all the way through to international or domestic tuition payments, setting up payment plans, and more. Within the familiar Ellucian software, Flywire helps students and families easily track and make payments in native currencies, and university accounting professionals can see and access all payment information within their system of record. And with Flywire’s custom-built middleware, universities can benefit from a faster time-to-deployment for all of Flywire’s payments solutions.
Seamless Integration with ERP Systems Crucial for Education IT Leaders
Ellucian is a leading Enterprise Resource Planning (ERP) supporting more than 2,700 college and university customers around the world. These institutions rely on Ellucian for everything from managing business workflows to improving the student experience. As universities increasingly rely on these ERPs as their central nervous system of information, it’s critical that any additional technology intended to augment an ERP’s capability must seamlessly integrate with it. According to research from Flywire, 81% of IT leaders surveyed at higher education institutions name integration with other systems as the chief challenge when managing the technical aspects of their ERP. Additionally, 97% say tight integration with an ERP and a streamlined implementation process are a few of the most important considerations when choosing to work with an outside technology vendor.
Flywire’s direct integrations with Ellucian can accelerate the implementation process for institutions, and provide a more engaging and flexible experience for students and families. Through Flywire’s new middleware, universities have one singular way to connect to all Flywire solutions - from international and domestic payments, to our Education software solution to manage the entire student financial journey, including billing, payment plans, collections and more. This greatly reduces the complexity for institution administrators who are looking to offer more payment choices to their students and families, without significant investment. And for students and families, the integrations provide a highly-tailored, convenient and secure digital payment experience, which can be customized by university, country, and currency. It also enables institutions to consolidate the multiple payment options they offer, which accelerates funds flow, eases reconciliation and streamlines operational efficiencies.
Uptick in international student mobility extends partnership’s global reach
In response to customer demand, and with student mobility on the rise, the partnership between Flywire and Ellucian has also expanded its global footprint into Canada, the United Kingdom, and Latin America. According to the statistics from the Canadian government, Canada hosted more than 800,000 international students in 2022, which was nearly double its original forecast. And data from UNESCO shows that the Latin American countries of Brazil, Mexico, Colombia, Peru, Chile and Argentina were receiving almost as many inbound students as they were sending, driven by a focus on intra-regional mobility in the area.
An increase in student mobility globally is putting pressure on institutions to attract, retain and engage students with positive payment experiences. According to a Flywire report, 78% of Canadian students surveyed said a simplified payment process would improve their education experience. And in the same report, 80% of students surveyed from Peru said the option to pay in installments makes education more affordable. The partnership between Flywire and Ellucian is designed to solve these pain points.
“Ellucian has long been a valued partner of ours, and we are thrilled to continue to build on our relationship, and to be recognized for our integrations that will enhance our capabilities and extend our joint solutions worldwide,” said David King, Chief Technology Officer at Flywire. “With our award-winning integrations, institutions who are using Ellucian for all their essential services now have a seamless way to delight their students with secure, seamless payment experiences, all from within a familiar interface.”
Resources
- Learn more about Flywire’s enhanced partnership with Ellucian at Ellucian LIVE, March 26 - 29 in New Orleans, LA. Visit Flywire’s booth 916.
- To sign up to receive Flywire’s forthcoming research on higher education IT decision makers, visit here
- Learn more about Flywire’s solutions for higher education: Flywire's digital education solutions
About Flywire
Flywire (Nasdaq: FLYW) is a global payments enablement and software company. Flywire combines its proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for clients and their customers.
Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, so organizations can optimize the payment experience for their customers while eliminating operational challenges.
Flywire supports 3,100 + clients with diverse payment methods in more than 140 currencies across 240 countries and territories around the world. Flywire is headquartered in Boston, MA, USA with global offices.
About Ellucian
Ellucian powers innovation for higher education, partnering with more than 2,900 customers across 50 countries, serving 22 million students. Fueled by decades of experience with a singular focus on the unique needs of learning institutions, the Ellucian platform features best-in-class SaaS capabilities and delivers insights needed now and into the future. These solutions and services span the entire student lifecycle, including data-rich tools for student recruitment, enrollment, and retention to workforce analytics, fundraising, and alumni engagement. Ellucian’s innovative solutions, vast ecosystem of partners and user community of more than 45,000 provides best practices leading to greater institutional success and achieving better student outcomes.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire’s future operating results and financial position, expected benefits from our solutions and integrations, our business strategy and plans, market growth, and our objectives for future operations. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire's forward-looking statements include, among others, the factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Flywire's Annual Report on Form 10-K for the year ended December 31, 2022, which is on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at https://www.sec.gov/. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
Media Contacts
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Sarah.King@flywire.com
Prosek Partners
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Investor Relations Contact:
ICR
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