Session Objectives:

• We will highlight the challenges institutions have been facing with their current, traditional ways of processing student refund payments and how leading-edge technologies, including elements of open banking, are needed now more than ever.

• We will showcase how institutions can use integrated Interac e-transfers to facilitate domestic refund payments for students in Canada in a contactless way so they can receive refunds faster, safely, and securely while eliminating the need for paper cheques.

• We will present how Interac e-transfers eliminate manual multi-journal accounting entries by way of automatic AP reconciliation technologies while, at the same time, enabling a two-factor authentication process before funds can be deposited, creating a streamlined and highly secure process for students.

• Our team will also demonstrate the student experience and administrative interfaces including real-time payment tracking and reporting that will reduce processing times, streamline the user experience, and save costs.