2.8 Million New Learners Register with Parchment Services in 2016
SCOTTSDALE, AZ (Friday, February 10, 2017) – Parchment, a leading digital credentials management service, today announced its 2016 fourth quarter and year-end activity report. Parchment's focus in 2016 was increasing the scope of its active institutional member network by more than 1,100 schools, and scaling learner registrations across the network by 21 percent. The importance of network reach was outlined in the company's vision statement for the market, which advances three goals that are central to turning credentials into opportunities: make all credentials digital and machine-readable, innovate the form and function of credentials, and make credentials truly portable, allowing the learner to collect and manage them throughout their academic and professional lives.
With strong growth in both its network and platform adoption, Parchment 's member schools and universities remain at the forefront of credential innovation, globally.Member Network Growth
At the close of 2016, Parchment's active member network included more than 8,700 secondary and postsecondary schools along with GED jurisdictions, licensing boards and other agencies. The network expanded by more than 130 high school, colleges and GED jurisdictions in the fourth quarter with the additions of schools like Arizona State University, Colorado State University, University of California Berkeley Extension, and GED – Rhode Island to name a few. Parchment's active member network increased by more than 1,000 institutions in 2016, sending and/or receiving credentials.Learner Registration Growth
An increase in schools joining the Parchment network provided more learners with digital access to their hard-earned credentials. New learner registrations for Parchment services in the final quarter of 2016 exceeded 700,000. For the last twelve month (LTM) period ending December 31, 2016, more than 2.8 million new learners registered with Parchment services.Credential Transaction Growth
The final quarter of 2016, anchored by college application season for high school seniors, resulted in almost 3 million credential transactions. The fourth quarter of 2016 marked the single-largest quarter for credential transactions in company history. For the LTM period, Parchment facilitated the exchange of more than 8.6 million credential transactions, a 21 percent increase over the prior year LTM.
"The vision Parchment members share to innovate the form and function of the credentials they issue represents a tremendous opportunity and responsibility, " said Matthew Pittinsky, Ph.D., Parchment Chief Executive Officer. "We value the relationships we have with our member schools and strive to be both their credential delivery platform and their partner in an innovation journey as they look to create meaningful opportunities for their learners."
Other notable events in 2016 include:
- Contracted with 17 institutions in the fourth quarter that were previously working with competitors, including Columbia College, Georgia Military College, University of California Berkeley Extension, and Vista Unified School District (Vista, CA) to name a few.
- Held eight regional user conferences in the fourth quarter, 11 over the course of the year, reaching almost 900 members. Conferences were peer-led and highlighted best practices with Parchment services while also focusing on new processes and techniques to grow adoption across all serviceable learner groups.
- In February 2016, hosted the inaugural Parchment Summit on Innovating Academic Credentials. Attracted a dynamic audience of more than 200 higher education leaders, technologists, credentialing experts, national policy advisors and employers to Washington DC for a one-day convening. Conversations ranged from the new language of credentials and the credential ecosystem to the changing paradigm of higher education's role in career formation. The 2017 Parchment Summit on Innovating Academic Credentials will be held Wednesday, March 1 in Washington DC. Register today.
Parchment is the most widely adopted digital credential service, allowing learners, academic institutions, and employers to request, verify, and share credentials in simple and secure ways. The platform has helped millions of people and thousands of schools and universities exchange more than 20 million transcripts and other credentials globally. Founded in 2003, Parchment Inc. is headquartered in Scottsdale, AZ, with offices in Roseville, CA, Denver, CO, Grand Rapids, MI, Toronto, ON and Washington, DC. Follow Parchment on Twitter, Facebook and LinkedIn.