Workday’s student offering is designed as a full student management offering like Banner et al, with the carrot that it’s internally integrated into the financial & HR systems, which avoids another vendor and also a massive and ongoing finger pointing exercise.
It’s also one of the few from-scratch cloud-first student management solutions.
Its page load time is as if it's running to the first clouds...
Banner is just a pile of hacks on top of an Oracle ERP with 7 character names for everything in the core. At least that was the state of affairs as of a number of years ago.