This collaboration, as stated by Edves' Brand and Communications Manager, Cynthia Okonkwo, will optimize the school fee payment process by enabling seamless bank transfer transactions.
The initiative addresses a persistent issue within the education sector, where the management of school fees can often be cumbersome and time-consuming.
“With the incorporation of Globus Bank’s intuitive payment systems, parents and guardians can now pay fees and other expenses with much greater convenience,” the statement highlighted.
“Private schools in Nigeria experience a 25 percent annual rate of bad debt due to late payments. The Edves-Globus Bank solution aids in monitoring defaulters and minimizing losses, allowing a stronger focus on delivering quality education,” the statement added.
Dimeji Falana, the Chief Executive Officer and Co-founder of Edves, remarked, “This partnership demonstrates our dedication to utilizing technology to address real-world challenges in education. By collaborating with Globus Bank, we aim to simplify and enhance the efficiency of fee payments for both schools and families.”
He emphasized that this collaboration aligns with Edves’ overarching mission to empower educational institutions with innovative digital solutions. As schools increasingly transition to digital operations, the need for secure and efficient payment systems has become crucial for their sustainability.
Falana also noted that Globus Bank contributes its financial expertise to the partnership, ensuring that all transactions are both reliable and secure.
“Edves remains at the forefront of transforming the education sector through technology. This new initiative represents another significant step in our efforts to improve the learning environment across Africa,” the statement concluded.