In the first Q-and-A with Transact’s new CEO Nancy Langer, we had the chance to get to know Nancy on a more personal level. This time we’ll learn about her vision and how Transact is building the complete mobile-first platform for student payments and commerce. Read our conversation below and get to know Transact’s new CEO.
Q: In your own words, describe Transact and its solutions?
A: Transact is the leader in innovative credential and payment solutions for connected college and university payments. Our work focuses on two main areas—payment solutions software and student ID and credential solutions. In the last 18 months or so, our Campus ID services have really shifted to focus on mobile credentials. Our mobile IDs can be stored in the “wallets” of the country’s top smartphone providers. We are really at the forefront of this movement.
Our big focus area is electronic payments. Transact Payments helps colleges and universities collect and process tuition, room and board fees, and money for dining services and meal plans. A lot of schools also use Transact for their student stores’ needs. We have worked on some key integrations recently to allow the processing of student payments inside the school’s systems to happen in real time. We’ve also partnered with meal delivery services and smart locker providers to facilitate contactless delivery options for students—they can order from off campus restaurants using their university-branded CampusCash account.
Q: What’s different about Transact?
A: Transact is positioned to be the premier, all-in-one payments and Campus ID provider to college and university campuses. Plus, we have the capability to serve other industries in the same way—really any campus or workplace setting where ID badges are needed for security. There are a lot of exciting new tools in our pipeline. I think another thing that sets us apart, is our ability to create customized tools for our clients. Any of our services can be built out to meet the unique needs of a campus—no matter how big or small.
Q: Your enthusiasm for the work is contagious. Why are you so passionate about Transact?
A: There are so many things that make me passionate about Transact; the possibilities at this company are endless, and that excites me. We continue to expand and elevate our solutions to provide additional value to students and universities, which makes me very proud. Working with people who truly care about our clients and wake up every day wanting to improve their experience is something that is rare and why I love working here. Our willingness to not accept average and constantly strive for greatness is another reason. I thrive leading in times of transformation and that’s exactly what higher ed is undergoing. This company is delivering tools for clients to create positive mobile and digital experiences that align with student expectations. Students want immediate and personalized service and self-serve and payment options. I am excited to be on this journey with higher ed clients and to push our teams to deliver the very best products and services.
Q: Tell me more about your vision for the future of Transact?
A: I want Transact to be the leading innovator and provider for campus credentialing and payments solutions. I want our tools to make the campus experience better and safer for all. I think we are positioned to do just that. Over the summer, we released an added feature that allows campus administrators to include local and/or national emergency hotline and suicide prevention contact information on their mobile Campus ID, so safety information is right at students’ fingertips. We still offer the full spectrum of Campus ID products but we’re seeing the mobile version save campus administrators a lot of time and money in printing costs.
Q: What role does innovation play at Transact?
A: Innovation plays a huge role at Transact—it’s one of our organizational pillars! We have the best developers in finance and education tech dedicated to improving existing tools and creating new solutions based on the industry’s evolving needs. That is a very literal example of Transact’s innovation. Additionally, we’re innovative in how we work together and solve problems. Account executives and client managers are constantly sharing product feedback from clients with our development team to build on. And the marketing team showcases not just our own efforts, but also supports campuses with rolling out new technologies to students and their parents. When all the puzzle pieces come together, it leads to a plethora of innovative solutions and ideas.
Q: How is Transact changing the industry?
A: I have been with Transact for less than a year, but I can tell you that all the tools are in place for this company to be a major disrupter in the payments and mobile campus ID spaces. Most college and university campuses are using
nine (plus) smartphone apps to meet their needs and the needs of their students, and we want to simplify that. I am really excited about the team we have at Transact and I think we’re at a pivotal moment in the company’s growth.
Nancy Langer has experience leading financial services businesses of many sizes, from start-up ventures to mature businesses. She graduated Magna Cum Laude with a degree in Management Information Systems from the University of Wisconsin-Eau Claire and later received an executive leadership program certification from Northwestern University’s Kellogg School of Management.