JS Group currently provides funds such as bursaries, scholarships, and other financial support to students.
NatWest’s strategic investment will help JS Group transform the delivery of financial support within the higher education sector. The goal is to enhance social inclusion, enabling students from disadvantaged or underrepresented backgrounds to access funding and succeed at university.
Moreover, this investment will allow Aspire to engage with additional sectors, including charities and government bodies, where financial support plays a vital role in social mobility. NatWest and JS Group previously collaborated in 2022, integrating the bank’s Payit payment solution with the Aspire platform to expedite the distribution of bursary and hardship funds to students within minutes.
The faster payment system enables funds to be deposited directly into student bank accounts across the UK. By expanding this partnership, NatWest seeks to empower key sectors of the economy with these services.
Barrie Davison, national sector head at NatWest, commented on the collaboration: “Building on the established partnership between Payit and JS Group, this investment allows us to pursue our shared goal of advancing open banking technology. We are excited to support JS Group in simplifying and enhancing the way universities and other funders manage and distribute financial support. This investment aligns with our commitment to fostering innovation and providing financial solutions while supporting the higher education sector. It represents a significant opportunity to advance payment innovations and improve customer experiences.”
Peter Gray, chairman and CEO at JS Group, stated: “We are thrilled to welcome NatWest as an investor in JS Group to help us achieve our mission of transforming the delivery and impact of financial support. Aspire provides funders with more options in delivering financial aid and gives beneficiaries greater control over how they receive funds. This investment will help us enhance our platform and extend our reach, ensuring more universities and beneficiaries can utilize our efficient and secure payment services. We look forward to collaborating closely with NatWest as we innovate further. Their expertise will be invaluable as we expand our platform and explore new sectors.”