EducationSectors

Financial Support Solution Adds Trust and Efficiency for Indian Students Applying for a Canadian Education

A new digitally verifiable Guaranteed Investment Certificate solution from ApplyBoard and Royal Bank of Canada delivers greater trust and efficiency for Indian students’ Proof of Financial Support required for a Canadian study permit.

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ApplyBoard, the global education technology platform revolutionizing the international student journey, and Royal Bank of Canada (RBC), one of Canada’s largest financial institutions, today announced a joint Proof of Financial Support solution. This unique collaboration will help Indian students looking to fulfill their dreams of higher education in Canada. 

A key element of the Canadian study permit application process is for students to demonstrate an ability to support themselves financially during their studies abroad. By using ApplyProof, ApplyBoard’s document verification platform, eligible Indian students can now submit their study permit application to the Government of Canada’s Student Direct Stream (SDS) program with the added trust and security of a digitally verifiable Guaranteed Investment Certificate (GIC) provided by RBC.

“Together with RBC, we are building trust in students’ Proof of Financial Support and helping to strengthen their study permit applications,” says Iman Hassani, Head of ApplyProof. “Leveraging RBC’s strength in the Canadian financial sector and ApplyProof’s secure and efficient verification capability, we’re making education in Canada more accessible to Indian students.”

A stand-alone platform developed by ApplyBoard, ApplyProof transforms the way official student documents are accessed, verified, and shared with immigration officials, admissions officers, and other applicable stakeholders in the study permit process. With the unique solution now offered by ApplyBoard and RBC, international students from India will be able to apply for an RBC Guaranteed Investment Certificate (GIC) that, if required, can be verified by Canadian immigration officials in a matter of seconds via the ApplyProof platform

“This joint Proof of Financial Support solution is one of the many steps we are taking toward our mission to make education accessible globally,” says Meti Basiri, CMO and Co-Founder of ApplyBoard

Upon arrival in Canada, international students can access a wide range of services and offers for newcomers through RBC’s digital banking solutions and over 1,100 branches across the country.

“RBC has a longstanding history of and commitment to supporting newcomers, including international students, who bring innovative ideas and fresh perspectives to campus communities across Canada,” says Amit Brahme, Senior Director, Newcomer and Cultural Client Segment, RBC. 

Canada is a popular study-abroad destination for Indian students thanks to Canada’s successful work-permit programs, inclusive immigration policies and strong multicultural representation. According to Immigration, Refugees and Citizenship Canada, almost 130,000 Indian nationals were approved to study in Canada between January and November 2021, surpassing the full-year record of 111,000 in 2019.

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SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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