MyClassboard & ICICI Bank Integration – How this will help you!

Education is an ornament in prosperity and a refuge in adversity

-Aristotle.

Education is the backbone of any culture. Our past teaches us that in the absence of a formal form of education, parents taught their children the basic life skills that they knew, for example, a hunter would train his children to hunt and a farmer would impart the knowledge that he had regarding best agricultural practices. This followed by a semi-formal approach to education in the form of gurukuls, in all earnest this is the predecessor for the modern day schooling system, but back then the system was far less complicated as it had a handful of learned rishis & risks who served out education to children of parents who deemed them worthy of teaching their children. This was predominantly basic life lessons aimed at nurturing the children to become good citizens of the community. This was how things progressed in the past.

Today, the schooling system is simply put a huge, ever-expanding, highly adaptive, ecosystem. It is no longer just a small hut in which few learned people are teaching what they deem necessary. Today the education sector is very so vast it encompasses an entire ministry in the government, which dictates the content that needs to be taught to children of today. Then come the various school boards and schools themselves. Such a huge enterprise cannot run without funds and the simplest way for them to collect funds is to charge the children and by extension their parents for the education being imparted.

The current economic system of the country combined with the traditional approach to collecting fees for school makes the entire exercise simply too cumbersome to be effective on such a large scale, hence there is need for a more streamlined approach in things and the advent of internet and technology has opened a unique avenue for chasing down a solution to this problem. Today we pay online for almost everything using our credit/debit cards or the online banking facility provided to us by the banks, so why do we not extend the same principle to payments for schools?

It is this thought that brought MyClassboard and ICICI bank together. MyClassboard is currently the most widely trusted school management software and as such maintains presence in more than 1200 schools across India and other foreign locations, ICICI bank, on the other hand, is India’s largest private sector banking institution with by garnering a net worth of almost US $ 1.5 Billion dollars since inception in 1994 has carved its place in the Indian market as a very versatile and reliable banking partner.

In the grand scheme of things, people today just do not have time to go and pay school fees for their children, not taking away from the fact that they are aware of its importance, the parents simply lack the time to stand in long queues, withdraw cash and pay with cash at school. Also, this is a very cumbersome process for the school as well, as they have to then collate the cash, maintain the balance sheets and then deposit the money in the banks. Would it not be simpler to simply transfer the money from the parent’s account to the school’s bank account electronically? After all, that’s what we are doing, albeit manually.

Today, all school powered by MyClassboard are enabling their parents to use online fee payment options in collaboration with ICICI bank payment gateway integration. This helps the school make the entire process seamless and hassle free not only for parents but also the school administrative staff. Want to get you school also enrolled in this program. Click “Sign Up Now” below!

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