SAN ANTONIO--(BUSINESS WIRE)--Execupay, the leading privately owned provider of HR and Payroll services and software, announced today the release of PlatinumPay Xpress FI, an offering designed specifically to provide financial institutions with a private-label payroll and HR solution for small business customers that can be embedded into the financial institution’s online banking platform.
With Execupay’s PlatinumPay Xpress FI, business customers of financial institutions can register for payroll services as an extension of their banking services. Execupay builds the PlatinumPay Xpress platform directly into the financial institution’s online banking system or public website, with minimal IT investment. This makes it possible for banking customers to access payroll services directly from the financial institution’s website or through the customer’s existing online banking dashboard with single sign-on capability.
With an estimated fifty percent of all businesses outsourcing their payroll, payroll is the most common of all business processes outsourced, according to an independent study conducted by Execupay. Financial institutions are latching on to this trend, looking for opportunities to extend payroll services to their business customers. An estimated eight of the top ten financial institutions already offer some form of payroll solution to their customers, but PlatinumPay Xpress FI offers customers a unique and seamless experience that ties directly into their banking services.
Gerald Stowers, CEO of Execupay, explains, “We have updated our PlatinumPay Xpress offering to specifically meet the needs of financial institutions and their customers. With PlatinumPay Xpress FI integrated into their systems, financial institutions are able to offer an improved customer experience they previously could not provide to their business customers, with the ability to process payroll from start to finish in a single sitting and all in one interface. By simply logging into their financial institution’s online banking system, customers can view their checking account balance, process payroll and transfer funds to cover the transaction, as needed – all without ever logging out or even changing browser windows.”
Businesses can sign up for the service online and access payroll services within a week. Customers of financial institutions using PlatinumPay Xpress FI have access to Execupay’s dedicated customer service via telephone and online chat.
The online PlatinumPay Xpress FI solution is flexibly designed to work within any financial institution’s online banking system. However, unlike similar solutions, PlatinumPay Xpress FI is designed to provide payroll solutions to all business customers of financial institutions, regardless of whether they use online banking services. Enrolled customers can process payroll online or offline via phone or fax.
Financial institutions adopting PlatinumPay Xpress FI receive dedicated service and implementation support including: LMS training videos for staff, video demos and printed sales materials. For financial institutions that use Yodlee’s financial institution solutions, PlatinumPay Xpress FI is already integrated into their solutions and designed to be rolled out easily.
“Financial institutions that offer payroll in an integrated model to their clients receive not only a substantial residual revenue stream, but also have the means to improve customer retention,” says Gerald Stowers. “By providing additional value and an improved customer experience, financial institutions give customers more reasons to remain loyal to the institution.”
Headquartered in San Antonio, Texas, Execupay provides human capital management services and solutions covering payroll, time and labor management, talent acquisition, talent management, and HR management to thousands of companies of all sizes throughout the United States and Internationally. The company also licenses payroll service software and offers private label partnership opportunities. Driven by technology and innovation, Execupay is the largest privately owned provider of payroll and human capital management software for payroll service companies in the United States and provides payroll to over 1 million employees. For additional information, call us at (210) 366-9511 or visit http://www.execupay.com.