To further enhance the client experience and bolster corporate cost-efficiency, IB has introduced the "IB Business Express Payroll Payment System". Characterized by its portability, adaptability, comprehensiveness, intelligence, and confidentiality, the system offers a one-stop professional payroll service solution. With plans to progressively incorporate internal corporate management applications, it aims to establish a payroll disbursement service ecosystem. The specific advantages are as follows:
More Convenient
Streamlined operational requirements and a more user-friendly system design eliminate the cumbersome necessity of using a security token (U-shield) for online bank transfer logins. This allows for more convenient collection of employee information by enterprise HR, with inter-bank salary payments also supporting employee queries. The features encompass the following:
No need for U-shield authentication for logins and non-accounting transactions.
Digitalized procedures for user registration, individual verification, and enterprise verification.
Facilitates bulk QR code generation for enterprises to gather employee data, supports online account opening applications, and bank system card production with delivery to a specified address – eliminating the need for branch visits.
Payment verification offers multiple methods, including U-shield, facial recognition, and verification codes.
More Flexible
Supports customizable user, permission, role, and process settings to satisfy intricate management needs such as confidential payroll operations and data isolation. It also caters to simplified requirements, offering “ready-to-use” functionality. The specifics are as follows:
Empowers enterprise HR departments with internal subdivisions, enabling different roles to handle account opening, executive payroll, and regular employee salaries independently, ensuring data segregation.
Allows businesses to set their own approval processes, with configurations supporting multi-branch processing and carbon copies. For instance, “conditional approval” settings can be utilized to mandate approvals for disbursements exceeding RMB 1 million by the General Manager, while amounts below this threshold can be approved by the Financial Director.
While offering standardized templates for permission settings, it also supports customized template configurations with granularity refined to specific operational points, such as customized permissions for "Executive Group Account Representatives".
Allows for adaptable data permission configurations, ensuring sensitive data can be accessed only by designated personnel.
More Comprehensive
The core functionalities, including bulk account opening, salary disbursement, and electronic payslips, have been thoroughly upgraded. In comparison to the original disbursement system, new features such as "Online Account Opening" "Intelligent Verification" "Automated Fund Tracing" and "Refunds" have been introduced. This resolves operational challenges like "instant verification" and "remote disbursements", streamlining business operations. The specific features are as follows:
Comprehensive Upgrades in Bulk Account Opening:
Facilitates bulk physical card openings with branch initiation, bulk physical card deliveries, and the bulk opening of category I electronic cards.
Permits enterprises to set up a whitelist, automatically verifying employee account opening requests. Whitelist authentication supports both ID and mobile numbers, offering employees the flexibility to choose.
Employees can scan the QR code to submit card opening information. Enterprises have the capability to edit, delete, or augment the information online, integrating enhanced verification protocols.
Employees can scan the QR code to submit card numbers, which enterprises can then modify, delete, or add online, ensuring automatic synchronization of the employee card list.
Comprehensive Upgrades in Salary Disbursement:
Introduces multi-batch disbursement, addressing challenges faced by conglomerates where a single corporate account couldn't disburse salaries in multiple batches.
Supports the initiation of multiple disbursement batches in one go, allowing single or multiple approval sessions. Provides a one-click view of subsidiary disbursement funds, and the one-click refund for subsidiary disbursement, and facilitates large-scale disbursements.
Catering to various scenarios, it supports regular deposit accounts and intra-bank transfers, auto-verifying the source of disbursed funds. (Note: Regular deposit accounts are settlement accounts opened by depositors in branches other than their primary deposit branch due to loan or other settlement needs. Intra-bank accounts are set up for data clearing, used for calculating internal fund transfers).
It empowers scheduled disbursements, granting flexibility in salary disbursement timings.
Comprehensive Upgrades in Electronic Payslip:
New functionality allows employees of different banks to inquire about payslips via mobile banking using their identification numbers.
Enables employees to confirm payslips and provide feedback through the IB Mobile Banking App.
More Intelligent
The system's functionalities are seamlessly interconnected, minimizing the need for toggling between tasks. Operational processes such as "addition" "deletion" and "modification" have been efficiently streamlined. The introduction of intelligent verification for disbursement lists and electronic payslips reduces manual workload. The specific features are as follows:
Allows for automated verification of disbursement lists, such as ID and card number validation, with capabilities for online rectification of discrepancies.
Provides intelligent routing selection for cross-bank disbursements and ensures expedited funds transfer.
In cases of salary disbursement or account opening failures, the system facilitates validation, correction, and a one-click re-dispatch.
Various module pages are integrated with inter-embedded function buttons, eliminating frequent toggling. E.g., the bulk account opening QR code page includes embedded buttons for "Account Setup" "Recipient Management" and "Submit Account Opening Request".
More Confidential
The system introduces data access rights and functional permissions to safeguard the confidentiality of employee salary data. The detailed functionalities are as follows:
Ensures transaction security. By setting data access and functional permissions, it upholds the confidentiality of employee salaries during approval, inquiry, and circulation processes.
The mobile banking electronic payslip feature now includes a security watermark to prevent salary data leakage by screenshots captured by employees.