ClassWallet’s $1 Million Week: 10,536 Purchases Reconciled & Paid

ClassWallet reached a new milestone reconciling over 10,000 transactions in one week. The 10,536 transactions totaled $1,012,841.59, with an average of $96.13 per transaction. Included in this number are 3,669 reimbursement transactions. For all purchases, customers did not have to collect a single piece of paper, reconcile an invoice or cut a check. Our team estimates the man-hour cost savings to customers at over $1 million.

Heritage Foundation Report Features ClassWallet as Pioneer in Financial Technology

As a financial technology company focused on saving time and money for the school business office, we are excited to be featured as a pioneer in financial technology in a recent Heritage Foundation Education Report. In the report, Jonathan Butcher, Senior Policy Analyst for the Center for Education Policy, showcases trends in mobile money and digital wallets and explains how school districts can benefit from these new innovations.

ClassWallet News: Districts Across the U.S. Adopt ClassWallet

ClassWallet is saving time for the school business office and streamlining the procurement workflow for districts throughout the United States. 63,000 teachers and principals in 2,000 schools use ClassWallet to automate processes for transactions, empowering business offices to reallocate precious resources from tracking and reconciling small dollar transactions to more impactful work.

ClassWallet President, Neil Steinhardt, Talks EdTech & School Business with the EduTech Guys!

This week ClassWallet had the opportunity to be featured on the EduTechGuys podcast. The EduTechGuys are the combined force of Jeff Madlock and David Henderson whose Twitter bio succinctly breaks down what they are about: Over 40 years of combined educational technology experience set loose on the world of podcasting.

On Teacher Appreciation Week: A Thank You to Teachers

Here at ClassWallet, we are passionate teacher advocates and work each day to help modernize school districts by bringing innovative financial technology into the classroom. We often receive feedback such as the below. Messages likes these let us know that ClassWallet is on the right path to help make teachers’ jobs a little easier.

District CFO Shares How ClassWallet Saves Schools Time & Money

Avery Ford, Chief School Financial Officer for Conecuh County School District in Alabama, chats with Jamie Rosenberg, CEO of ClassWallet, to discuss how Classwallet helps improve the workflow in his school finance department.

Financial Education for Students: District Grants from Discover

At ClassWallet we streamline the tracking and distribution of education funds. Here on our blog we provide tips from financial experts to help you manage your district budget and cover financial information for the education world. For this post we take a look at financial education for students and the pressing need for it through our chat with Matt Towson, Director of Community Affairs at Discover.

The Money Movement Channels in Schools: A FinTech Discussion for School CFOs

ClassWallet had the opportunity to sit down with Wayne Brown of The Walker Group. Wayne Brown is a fintech subject matter expert with over three decades of experience in the financial services and technology industries, including seven years as an auditor for a large global bank. In our conversation we tapped into Wayne’s extensive knowledge on everything from the cost of accepting cash in schools, to the need to mitigate the fraud that comes with accepting cash, and the changing nature of technology for payments.

Mastercard Considers How Schools Could Benefit from Less Cash in the System

ClassWallet had the opportunity to sit down with Carlos Cornejo, senior vice president, New Consumers and Public Sector Solutions at Mastercard to chat about financial technology and share insights for school business managers. Read on to learn about new advances and see what can be applied to your school.

School Money: Where Does It Go? The Problem of Accepting Cash in Schools

Learning and responsibility are core values of school districts; however, what often makes headlines is “fraud and mismanagement in schools.” How is it that schools are so susceptible to fraud? The reality is that when cash is accepted as payment for student activities there is opportunity for mismanagement.

The Cost of Cash in K-12 Education: Time, Fraud, Mismanagement & Safety

For as long as there have been schools, teachers have been collecting cash from students. Field trips, lunches, fundraisers, it’s easy for parents to drop some bills into a child’s backpack and teachers are collecting, receipting, aggregating and reporting the collection. School secretaries become drop boxes. This model leaves open, however, an avenue for misuse. School auditors have an easy time exposing fraud, waste and non-compliance.

Why Harrington Park School District Loves ClassWallet: #NYEdTechWeek Feature

There are some office facing solutions that are lights out that I love. The first group that I would talk about is ClassWallet. ClassWallet is a great business office solution and you say, “Wow that is so simple!” ClassWallet talks about student funds and accounts, field trips, things like that, and you go, ‘Oh my God that’s such a low hanging fruit.’ But everyone of us brings that brown envelope down to the office. It’s a nightmare. But ClassWallet digitizes it.