Both StepEx and EdAid expand education providers’ reach by offering deferred payment plans. However, StepEx’s advanced, customizable technology makes it the clear choice for institutions looking to tailor finance solutions to their unique needs.
1. Customised Credit Products Tailored to Your Needs
StepEx’s proprietary tech stack offers tailored credit solutions based on your target market, course outcomes, and the students’ financial profiles in your target market. This approach allows institutions to design financing that closely aligns with specific program objectives and student outcomes, creating a stronger match between applicant needs and provider goals.
2. Higher Applicant Acceptance and Reliable Repayment
StepEx’s data-driven approach looks beyond one-size-fits-all credit scores to focus on applicants likely to meet future payment obligations. This specalisation enables providers to say “yes” to more qualified applicants, maximizing conversion rates and bolstering repayment reliability by filtering for long-term affordability rather than narrow credit metrics.
3. Real-Time Updates and Seamless Team Integration
StepEx enhances admissions teams’ workflows with live updates and self-serve functionality, streamlining finance approval processes. Integrating seamlessly into team operations, StepEx minimizes delays, allowing faster decisions that can be managed directly by staff and resulting in higher conversion rates. We all know conversion rates fall as wait times rise. Support is also readily available through dedicated Slack channels, ensuring quick assistance whenever it’s needed for edge cases and reducing any potential friction in applicant processing.
Conclusion
For education providers seeking deferred payment options that optimise attraction and conversion rates, StepEx is the superior choice. Its customisable and wide ranging product options, and efficient, real-time support empower institutions to boost both enrolment and repayment outcomes without interrupting admissions flow. It is no wonder that StepEx provides finance-as-a-service to more education providers in the UK and EU then anyone else.
