Smart cards feature an embedded microchip capable of storing money as electronic cash for purchasing essential collegiate items such as books, soft drinks and loads of wash at the Laundromat. By reducing the amount of hard currency on campus, Guilford College will reduce their cash handling operating costs by automating many services.
"An integrated smart card system will offer tremendous advantages and opportunities to the Guilford College community," said Guilford President Don McNemar. "A variety of services will now be delivered to students, faculty and staff with greater convenience at less cost to the college. We're very excited to be implementing a system that all colleges and universities will be turning to in the future."
"Guilford College has distinguished itself by taking the lead in implementing this exciting new technology," said Michael Love, vice president of smart card technology for First Union's Customer Direct Access Division. "As these young adults enter their college years, it is important for them to learn about new financial technologies and begin practicing responsible money management."
Guilford's ability to implement the smart card system is due in part to a $9 million investment in information technology and facility enhancement project occurring this summer. That project includes the wiring of all academic buildings and residence halls to complete the campus network and a new administrative software system to support admissions, business operations, financial aid, institutional advancement and student registration records. These new integrated operational systems will improve services and cut costs as well as enable Guilford to architect the smart card system.
As a primary banking partner for Guilford College, First Union will provide Guilford students, faculty and staff with low cost/no cost banking services and student educational loans. First Union will also provide the college with discounted commercial banking services, unitrust and pooled income investment services, Visa corporate and purchasing card programs as well as discounted card transaction processing services.
"The Guilford-First Union smart cards may be many students' first introduction to banking products and services. We see this program as an opportunity to educate students about First Union, and as their financial needs grow, offer them innovative banking products such as Off-Line Debit, Online Access and a variety of Internet services," said Love.
Over time the Guilford College Cards' functionality could be expanded to include chip-based voting in campus elections, registering for classes via the Internet, customer loyalty programs or conducting financial aid transactions without changing the smart card chip or the readers. Services could also grow to also include alumni, parents and friends of the college.
First Union will work with CyberMark (of Columbus, OH) to provide Guilford College with a fully functional one-card system for use as college identification, library check-out, entry into security systems as well as debit and vending programs on campus.
"We are gearing up for a great Fall session at Guilford College," reports Bill Norwood, vice president new business development for CyberMark. "It is great to see Guilford College taking such a progressive approach to student service. CyberMark's smart card solutions coupled with First Union's b banking offerings will make this card an incredibly powerful tool."
Founded in 1837 by the Religious Society of Friends (Quakers), Guilford College is the third oldest coeducational college in the country. Recognized by the Carnegie Foundation for the Advancement of Teaching as one of the top four-year, liberal arts colleges in the nation, Guilford offers 29 academic majors and eight interdisciplinary concentrations. The 340-acre campus, located in Greensboro, NC, is home to 1,500 full and part-time students.
Charlotte-based First Union Corp. provides financial products and services to more than 12 million corporate and retail customers nationwide. First Union is the nation's sixth-largest bank holding company with assets of $137 billion as of March 31, 1997.
CyberMark, LLC provides consulting, integration, card issuance, and application development services for higher education, corporate campuses, government entities, stadiums and resorts. With installations ranging from 1,000 to 35,000 cardholders, CyberMark has more than six years of experience implementing advanced card solutions.
-- END --
Email This Page
Printer Friendly Version