Faster Access. Increased Flexibility. Greater Transparency.
Fintech innovations happen every day and stand to change how many industries go about their business. The HR and payroll sectors are no exception. Cloud-based payroll systems is such a recent fintech development. But there are other, sometimes more subtle changes that can have a big impact on customer satisfaction.
As an example, fintech can help give employees more control about how to distribute their salary, or empower payroll providers to get it to them quicker. Details can be defined on a case-by-case basis.
Sila’s customers benefit from our ability to make ACH transactions faster than the traditional processing times by applying state-of-the-art risk management services. Our proprietary ledger enables money movement 24/7 through programmable transfers, again speeding up ACH transactions on our system.
Direct-deposit switching offered in partnership with Argyle allows end users to designate multiple destinations to split up their paycheck.
With Sila’s virtual accounts option, users gain access to digital wallets with dedicated account and routing numbers that they then can use to designate parts of their paycheck for things like rent, utilities, vacations, etc.
Payroll providers also benefit from simplified fraud prevention solutions that are wrapped in Sila’s powerful money transfer API.