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Getting in the new banking landscape: Virtual bank set to grow with IPL HRMS
Hong Kong, February 12, 2020 - C&T’s human resources management software IPL HRMS is helping a virtual bank to customize a payroll solution to fully comply with the regulatory requirements and a smart e-platform for employees to handle HR-related issues with mobility and efficiency.
A joint venture among renowned IT and financial institutions, this bank was granted its virtual banking license in Hong Kong by the Hong Kong Monetary Authority (HKMA) in 2019, aiming to bring retail customers and enterprises an all-new experience of convenient, secure and personalized digital banking services powered by fintech innovation and efficiency.
Despite the absence of the frontline staff in a physical bank, the virtual bank requires employees for sales activities, customer service, technology integration, back office operations, and many more that cover both ordinary and tech-based banking businesses. Forming such a unique workforce to lead in new banking landscape, the virtual bank is adopting IPL HRMS’ core HR engine to manage the complicated payroll in full compliance with Hong Kong’s employment regulations, while engaging every employee with personalized self-service powered by Profile, Leave, Attendance, Claim and other app-based HCM modules.
A survey of 150 CFOs in Hong Kong predicts that virtual banking is driving the employment market for finance professionals. Quality HR management is important for businesses growing their workforce to compete in the emerging virtual banking industry. Offering a reliable one-stop solution with precision payroll functionality, custom-made mobility, scalability and market know-how, IPL HRMS is providing this virtual bank the backbone for rapid business expansion.