The Student Loans Company is transforming its IT to standardise customers' experience across all its communication channels.
Indian IT services supplier HCL will lead a consortium as prime systems integrator. Deloitte will be the implementation partner and Misys will supply the core software.
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With the loan system critical today for student course fees as well as maintenance, the Student Loans Company is expanding.
Last year it supported 1.34 million customers, with £6bn in maintenance loans and grants and £4bn in tuition fees. It also collected £1.7bn.
The Student Loans Company is attempting to meet the government’s “digital by default” target for the public sector.
“This major investment forms part of a wider business transformation programme and is part of SLC’s long-term strategy to improve and simplify the student finance system, as well as expand our services in the future,” said Mick Laverty, CEO at the Student Loans Company.
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"It is a significant milestone towards achieving our vision of becoming a digital, customer-focused centre of excellence.”
The Student Loans Company started developing its core IT system in 1989. It was based on IBM mainframe technology used in the California student loans system. PWC was an advisor and EDS was the outsourcing services provider.