Business Fintech News

ClassWallet Provides Free Access to its Platform

Danske Bank, Denmark’s Largest Bank, Embraces Advanced Analytics From Behavox Compliance Solution to Enhance Risk Management

In response to the unprecedented global pandemic disrupting normal K-12 classes across the nation, a financial technology company ClassWallet is providing free access to its spending management platform to all school districts in the nation for the remainder of the school year.

The ClassWallet platform, currently in use in more than 135,000 classrooms spread across 3,000 schools in 20 states, enables school districts to give teachers classroom supply budgets and maintain accountability of expenditures without the typical bureaucracy of K-12 school systems.

“In the last month, our platform has become even more critical as teachers have been forced to shift to distance-learning from home and without having the supplies and teaching materials they need,” said Jamie Rosenberg, CEO and co-founder, ClassWallet. “During this crisis, we are waiving all fees for use of our platform which will allow districts to quickly connect teachers to the supply sources they need without concern for laying out cash and awaiting reimbursements.”

Read More: Amidst COVID-19 Pandemic, QUID To Provide Cash To Illiquid & Laid Off Employees

How it Works

Once registered on the platform, district administrators and principals can allocate classroom resource budgets to teacher ClassWallet accounts, Districts can flexibly designate which resources may be ordered by school, department, grade or teacher with complete control on individual and total amounts spent.

Teachers are provided with access to the platform including a private e-commerce mall with reputable national, regional and local education resource providers such as Amazon, Staples, Office Depot, Scholastic, School Specialty and Really Good Stuff, where they can order the materials they need. The site contains numerous vendors that support e-learning. There’s no cash or credit card outlay required by teachers, and bookkeeping and reporting is handled automatically by the platform for oversight by the districts. During the current pandemic, schools may allow to have these materials delivered or rerouted directly to teacher’s homes – a feature now open to current and special offer clients.

Read More: Cross River Partners With Operation HOPE and the Community to Provide Virtual Financial Literacy Resources

ClassWallet also offers an automated reimbursement tool that enables teachers to purchase from off platform vendors and submit receipts for review. When approved, ClassWallet automates an ACH direct deposit and getting teachers the reimbursed funds in days rather than weeks.

“We are strong advocates for teachers who in the best of times may struggle to obtain the supplies they need in a timely and uncomplicated manner. We hope this gesture helps ease some of the burden on these front-line workers helping to educate our children in trying circumstances,” said Rosenberg.

Related posts

Innovations Federal Credit Union Deploys Scienaptic’s AI-Powered Platform to Transform Credit Decisioning

Fintech News Desk

Synechron Acquires Attra

Fintech News Desk

TailorInsight Releases Report on ‘Intel, Nvidia and WIMI Hologram Cloud Are Building Ecological Advantages in High-end Chips’

Fintech News Desk