Background

Adler University is a private, not-for-profit university, with two campuses in North America. Adler’s flagship campus is located in Chicago, Illinois, and its satellite campus in Vancouver, British Columbia. The university is a popular choice for international students, with students from over 25 countries enrolled in its programs.  

Challenge

Unpredictable bank charges and fees were causing Alder University to receive tuition payments that were less than expected from international students. Missing reference numbers also made payments difficult to reconcile. The university’s accounts receivable team was spending an excessive amount of time on a manual process—they knew there had to be a better way.

Solution

With preferential exchange rates and lower administration costs, Adler University and its students are making substantial savings by using TransferMate for international fee payments. Students pay tuition fees in their own currency and Adler University receives referenced payments with the full amount due. This improved process is saving the university’s accounts team a lot of time that was previously spent chasing up missing funds and reconciling payments.