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By partnering with Bud, Blackbullion has transformed how students and young people engage with their finances, giving them the tools to manage their money with confidence and empowering universities and colleges with an accurate and more holistic view of students’ financial behaviour. Universities and colleges are also able to get a clearer idea of the real cost of student life and enable a more efficient support funding process - getting extra money to students who need it much quicker - and in doing so, accelerating data-driven decision-making for students and their institutions alike.
“Our collaboration with Bud has allowed us to empower universities and colleges with an accurate and more holistic view of the real cost of student life, based on student's actual financial behaviour (with their permission). It has also enabled us to provide students with insights into their spending and suggest areas where they may be able to save, to support them with budgeting and help them to manage their money with confidence.
When it comes to our Funds Management System, which streamlines every step of the support funding process at universities and colleges, introducing open banking through our partnership with Bud has meant significant time and admin savings for both staff and students.”
Young people and students crave financial freedom but rarely have the right information or resources to hand. This means they may struggle to proactively improve their financial situation, wrestle with debt and make informed decisions.
And for those students in need of financial support, getting this extra money has historically been a lengthy process for universities and colleges. With providing bank statements as a necessary part of the process of applying for this support, a particular pain point for both the student and the staff who assess student applications.
Enter Blackbullion.
Described by many as the home of student money, Blackbullion combines FinTech with EdTech to provide students with a place to learn about money, find and apply for additional money, and manage their money with confidence.
Blackbullion’s robust and powerful money management app is the first of its kind, designed specifically for students and powered by Bud’s Engage solution to allow users to visualize their financial situation in one place - to better understand it and take actions towards feeling more in control of their finances.
With market-leading categorization to classify spending in any way they want and by providing students with insights into their spending over time and suggesting areas where they can save, students are empowered with more control over their finances and are given the tools to proactively improve their financial position.
By partnering with Bud, Blackbullion has also provided universities and colleges across the country with a clearer, more holistic view of the finances of students applying for funding – necessary to determine whether they are eligible for financial support from their place of study. This is decided by the student supplying bank statements alongside their application, which historically was an extremely time consuming and manual process for the student and required significant work from staff too.
Now, students can opt to use open banking to securely connect their bank account to their application and automatically supply this information. This has meant massive time savings for students, has cut down on the need for staff to liaise back and forth with students on this part of the process and overall, enabled applications to be processed faster so students in need can get financial aid sooner.
Bud’s AI-powered data intelligence platform categorizes spend and draws out insights, which has enabled universities to more effectively serve and support students by delivering key learnings, resources and support tailored to the student’s unique financial situation — all from one centralized application.
Since partnering with Bud, Blackbullion has:
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Personal Finance Management (PFM)
To equip students and young people with money skills and confidence for life and deliver an effective 'funds management system' to streamline the entire support funding process at universities and colleges.
Our money management, next-gen PFM, personalization and financial wellbeing solution
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