China Bank readies automated payroll service
MANILA – Sy-led China China Banking Corp. is linking up with a software provider to improve automated payroll and other human resources services to its corporate customers.
The lender said the new product, called China Bank Payroll 2.0, would be powered by BD Business Process Outsourcing Solutions Inc. via its SweldoMo platform.
Based in Albay, BD Business Process Outsourcing provides a host of information technology and back office human resources, data entry and payroll solutions to companies around the world.
“The soon-to-be launched China Bank Payroll 2.0 is an upgraded version of the bank’s current standalone payroll and timekeeping program, ChinaPay,” China Bank said in a statement.
New features will include a “self-service online portal and real-time data processing for more efficient timekeeping, attendance tracking and government report generation.”
The parties signed the agreement last Oct. 7 although a final launch date was not indicated.
“China Bank Payroll 2.0 is a complete HR system that can help companies with the difficult task of payroll management by automating payroll processing and ensuring data accuracy and compliance,” Domingo Dayro Jr., head of China Bank cash management services, said in the statement.
“And with the self-service portal, employees can easily login and view their payroll record, attendance data and more,” he added.
China Bank has been offering more digital services amid a broader industry shift that accelerated during the COVID-19 pandemic.
Meanwhile, its Easy Tax Filing and Payment Solution and Direct Debit Arrangement were recently recognized by Asian Banking and Finance (ABF). Easy Tax was also distinguished by PAY360 as the gold or over-all winner for Best Reg Tech Project 2022, China Bank said.
“Regional publication ABF recognizes outstanding banks and finance companies with innovative retail products, services and strategies. Meanwhile, PAY360 Awards is a London-based award giving body that celebrates innovation and collaboration by recognizing companies that have made significant advances in how people pay today,” the statement showed.
