List of Nelnet Velocity Customers
Lincoln, 68508, NE,
United States
Since 2010, our global team of researchers has been studying Nelnet Velocity customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.
Each quarter our research team identifies companies that have purchased Nelnet Velocity for Loan Management from public (Press Releases, Customer References, Testimonials, Case Studies and Success Stories) and proprietary sources, including the customer size, industry, location, implementation status, partner involvement, LOB Key Stakeholders and related IT decision-makers contact details.
Companies using Nelnet Velocity for Loan Management include: Discover Financial Services, a Capital One Company, a United States based Banking and Financial Services organisation with 21100 employees and revenues of $15.86 billion, SoFi at Work, a United States based Banking and Financial Services organisation with 5000 employees and revenues of $2.68 billion, Nelnet Bank, a United States based Banking and Financial Services organisation with 53 employees and revenues of $85.0 million and many others.
Contact us if you need a completed and verified list of companies using Nelnet Velocity, including the breakdown by industry (21 Verticals), Geography (Region, Country, State, City), Company Size (Revenue, Employees, Asset) and related IT Decision Makers, Key Stakeholders, business and technology executives responsible for the software purchases.
The Nelnet Velocity customer wins are being incorporated in our Enterprise Applications Buyer Insight and Technographics Customer Database which has over 100 data fields that detail company usage of software systems and their digital transformation initiatives. Apps Run The World wants to become your No. 1 technographic data source!
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| Logo | Customer | Industry | Empl. | Revenue | Country | Vendor | Application | Category | When | SI | Insight |
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Discover Financial Services, a Capital One Company | Banking and Financial Services | 21100 | $15.9B | United States | Nelnet Payment Services | Nelnet Velocity | Loan Management | 2024 | n/a |
In 2024, Discover Financial Services, a Capital One Company, engaged Nelnet Payment Services through its Firstmark and NDS servicing units to service its approximately 10 billion dollar private student loan portfolio following the July 17, 2024 sale announcement. Discover Financial Services implemented Nelnet Velocity for Loan Management in 2024, and public disclosures plus the timing of major loan conversions completed in Q4 2024 imply use of Nelnet Velocity hosted servicing systems to execute the conversion and ongoing loan servicing in the United States.
Nelnet Velocity was operated as a hosted Loan Management platform configured to support core loan account servicing and conversion activities. Implementation scope as inferred from the conversion work included payment processing and reconciliation workflows, account billing and statement generation, amortization schedule management, servicing conversion tools to migrate account balances and payment histories, and customer account servicing functionality to support inbound and outbound servicing interactions.
Operational coverage focused on United States servicing operations under Nelnet Payment Services through Firstmark and NDS, impacting loan servicing operations, customer service teams, collections workflows, and finance and accounting back office functions. The implementation context indicates interfaces and orchestration between the hosted servicing platform and external payment channels, customer contact channels, and back office accounting systems as is typical for Loan Management deployments, although specific external systems are not publicly named.
Governance and operational ownership resided with Nelnet Payment Services and its Firstmark and NDS servicing units, with the Q4 2024 conversions representing the primary rollout milestone. The narrative centers on Nelnet Velocity as the deployed application for Loan Management, supporting Discover Financial Services private student loan servicing in 2024.
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Nelnet Bank | Banking and Financial Services | 53 | $85M | United States | Nelnet Payment Services | Nelnet Velocity | Loan Management | 2022 | n/a |
In 2022 Nelnet Bank implemented Nelnet Velocity as its advanced loan origination and servicing solution for private student loans. Nelnet Velocity serves as the bank's Loan Management platform to support end to end private student loan lifecycle management across the United States, explicitly covering loan origination and servicing finance functions as described in Nelnet Bank's public announcement.
Configuration emphasized loan origination workflows including borrower intake, underwriting decisioning and document management, together with servicing ledgers for repayment, billing and borrower account maintenance. The Nelnet Velocity implementation encompassed servicing capabilities such as payment processing and ongoing account servicing consistent with Loan Management functional modules, and operational coverage was aligned to Nelnet Bank finance and lending teams for the 2022 private student loan product launch.
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SoFi at Work | Banking and Financial Services | 5000 | $2.7B | United States | Nelnet Payment Services | Nelnet Velocity | Loan Management | 2025 | n/a |
In 2025 SoFi at Work implemented Nelnet Velocity as its Loan Management solution. Nelnet began converting and servicing SoFi Lending Corp.'s loan portfolio with bulk conversions occurring in late Q4 2024 and during Q1 2025, and Nelnet assumed servicing operations for those accounts in the United States.
The implementation leveraged Nelnet Velocity's core loan boarding and servicing capabilities, emphasizing bulk loan conversion, payment processing, account maintenance, collections workflow, and servicing reporting. Configuration concentrated on hosted servicing workflows to centralize account servicing, billing, and ongoing borrower account management for private and consumer loans.
Nelnet relied on its hosted Nelnet Velocity servicing platform to execute the conversions and to operate day to day servicing across U.S. borrower accounts, integrating operational workflows with Nelnet's servicing teams. The deployment oriented the Loan Management solution to support loan servicing operations, customer service functions, collections activities, and servicing accounting processes.
Rollout was phased across late Q4 2024 into Q1 2025 with Nelnet operationally taking responsibility for portfolio administration and servicing governance aligned to Nelnet Velocity processes. The conversion effort is reported to have driven increased private and consumer loan servicing revenue for Nelnet, while servicing orchestration and operational control were centralized on the Nelnet Velocity platform.
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