HiWi to remit $100 million from Telangana, AP for international education
The company has plans to on-board over 5,000 students from the region and enhance the overall study abroad experience for students and their families.
Hyderabad: As the surge in students' pursuit of international education reaches unprecedented heights, the global cross-border Fintech platform HiWi aims to support students from Telangana and Andhra Pradesh with seamless remittance services to the tune of $100 million in 2023. The company has plans to on-board over 5000 students from the region and enhance the overall study abroad experience for students and their families.
Majority of students from these states enroll for universities in the USA, with a vast majority opting for MS courses. These studentsspend an average of over $20,000 on education and a similar amount on living expenses. However, students and their families often face challenges regarding the intricacies of foreign remittances, the cumbersome process of funding education overseas, and the exorbitant foreign exchange margins imposed by traditional banking systems.
In line with its commitment to cater to the unique needs of students from Telangana and Andhra Pradesh, HiWi aims to collaborate with over 2,000 education consultants by the end of this calendar year to efficiently onboard students onto the platform, monitor their financial journey, establish fee schedules, and send timely reminders for fee payments. It aims to ensure that every student in the region seeking an international education can benefit from its user-friendly solutions and guidance.
Among the array of services HiWi offers, students can seamlessly remit money, establish foreign bank accounts, access various finance options, track card expenditures, accumulate loyalty points, and stay informed about regulatory guidelines. The platform's strategic collaborations with banking institutions across major geographies alleviate concerns about excessive cash handling and high foreign exchange fees, providing a convenient and cost-effective currency management solution for students.
HiWi Cofounder and CEO Geeta Chauhan said, “Indian students are highly aspirational. HiWi understands the dreams of these students and wants to be a guiding light thereby supporting them in realising their goals. We are also aware of the challenges that come their way and thus are dedicated to removing all the roadblocks by not only simplifying their financial journey but also providing them with the tools to navigate life in a new country. Our platform ensures seamless money transfers and helps students stay compliant with government rules, making their international education experience smoother and more fulfilling.”
With its comprehensive and integrated solutions, HiWi addresses the requirements and concerns of students, parents, education consultants, and universities, making the process of studying abroad easier and more convenient. The platform's focus on convenience, compliance, and financial management makes it an ideal choice for students seeking a hassle-free experience while pursuing their education overseas.
