Student Loans Company (SLC) Invests to Advance Customer Service and Payments Efficiency

LONDON, March 11, 2014 /PRNewswire/ --

Selects HCL to support the delivery of a large scale transformation programme

Student Loans Company (SLC) today announced its investment in a major IT transformation programme with HCL Great Britain Ltd. (HCL) to advance its lending and payments services for its rapidly growing customer base. This significant programme will provide an automated, secure and streamlined customer experience across multiple channels, including digital.

HCL will work with Deloitte and Misys on the core systems replacement programme. It will lead the programme as prime systems integration partner with support from Deloitte as an implementation partner and Misys providing the core banking software (BankFusion).

To cater for the expanding student loans service and increasing volume of loans, SLC needs to invest in building a new IT platform to support all future business needs.  Last year SLC supported 1.34 million customers, paying out £6 billion in maintenance loans and grants, and £4 billion in tuition fees. In partnership with HMRC, payments of £1.7 billion were also collected.

Mick Laverty, Chief Executive Officer, Student Loans Company said: "This major investment forms part of a wider business transformation programme and is part of SLC's long-term strategy to improve and simplify the student finance system, as well as expand our services in the future.  It is a significant milestone towards achieving our vision of becoming a digital, customer-focused centre of excellence."

Rahul Singh, President, Financial Services, HCL said: "We are pleased to partner with Deloitte and Misys in delivering a world-class transformation programme at the Student Loans Company. The UK is an important geography for HCL, our successful track record and strong systems integration capabilities will empower SLC to best manage increasing customer volumes whilst ensuring maximum service availability. This strategic initiative will enable SLC to become more customer-focused, ensuring it can deliver the very best service across multiple channels, endeavouring to address the Government's "Digital by Default" agenda."

HCL has extensive experience of successful delivery in the UK Public services and Financial services sectors. HCL's unique capability encompasses complex core banking and public services programme across consulting, systems integration, product engineering and support services.

Student Loans Company
Rona Cameron      
+44(0)7876-391361

HCL
Elka Ghudial
elka.ghudial@hcl.com