The infrastructure that makes prepaid tuition possible.
The contract is signed between whoever pays and the institution. Ankla is not a party to it: it provides the software, the contractual framework and the management of the collection mandates. The money goes from one account to another without passing through ours.
Two parties sign. A third provides the technology.
Prepaid tuition is an agreement between whoever pays and the institution: an education that will be used later is paid for in advance, and each amount covers a part of it at the price of the moment it is paid. That agreement is signed between the two of them. Ankla does not appear in it.
What Ankla provides is three things. The contractual framework, which sets out in writing and in advance the terms on price, cancellation and transfer. The software that administers it: the contracts, the payments, the coverage built up on each one, and a record of operations that cannot be altered. And the management of the collection mandates, so that each instalment leaves one account and enters the other with no manual step.
What Ankla does not do matters just as much: it never holds the money at any point. Each institution owns its own collections and the money travels straight from the originating account to its own. That is why this is not financial intermediation, and why an institution’s operation does not depend on Ankla continuing to exist.
From going live to the first payment.
The institution goes live
It connects its own bank account and sets the price of its place, reviewed once a year.
The contract is signed
With an electronic signature of full legal validity. The certified original is kept in safe custody.
The instalments arrive directly
Each month the originating account transfers straight to the institution’s account. With every instalment the accumulated coverage grows.
A percentage of the tuition, not an amount of money.
The tuition costs €12,000 today. You pay in €100 a month.
The instalment rises at the same rate as the price, so it buys the same fraction every year.
See the year-by-year figures
| Year | Tuition | Instalment | Bought that year | Cumulative coverage | Paid in |
|---|---|---|---|---|---|
| 1 | €12,000 | €100 | 10% | 10% | €1,200 |
| 2 | €12,480 | €104 | 10% | 20% | €2,448 |
| 3 | €12,979 | €108 | 10% | 30% | €3,746 |
| 4 | €13,498 | €112 | 10% | 40% | €5,096 |
| 5 | €14,038 | €117 | 10% | 50% | €6,500 |
| 6 | €14,600 | €122 | 10% | 60% | €7,960 |
| 7 | €15,184 | €127 | 10% | 70% | €9,478 |
| 8 | €15,791 | €132 | 10% | 80% | €11,057 |
| 9 | €16,423 | €137 | 10% | 90% | €12,699 |
| 10 | €17,080 | €142 | 10% | 100% | €14,407 |
Illustrative estimate based on an assumed 4% annual increase. It is not an offer, a forecast or an investment product: what builds up is coverage of the future education service.
How it works, in detail.
Who signs, and with whom?
Does the institution have to change how it collects payments?
What happens if a payment fails one month?
Where can the accumulated coverage be checked?
How long does it take to go live?
We show it with real numbers.
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