This new alliance gives UAE companies an opportunity to provide their unbanked employees with complete digital bank accounts using the FlexxPay app with?access to ADCB payroll services
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UAE-based instant payment solutions company FlexxPay has partnered up with Abu Dhabi Commercial Bank (ADCB) to provide their clients with various employee benefits and payroll solutions, including a free digital bank account.
The solution will eliminate the need for costly payroll cards and time-consuming methods required to process salaries to unbanked employees.
Firstly, the employers who choose the new solution will reduce the multiple salary processing methods to a single one, using the FlexxPay app. Additionally, the companies can sign up to the cloud-based payroll solution without additional fees.
As the leading Earned Income Access and Benefits Platform in the MENA region, FlexxPay Shariah-compliant tech platform allows employees to access a portion of their earned income earlier, anytime and anywhere. Besides, the platform offers other employee benefits such as a savings tool.
FlexxPay solution has already helped its clients to reduce financial stress for their employees. According to the fintech’s estimates, its customers have increased staff productivity by 23%, boosted staff retention rate by up to 15%, increased sales by 17%, and reduced employee absenteeism by 20%. Besides, the employers who chose the platform managed to reduce the workload on HR & finance teams by 10 working days per year.
Along with the benefits provided by FlexxPay, customers can access the full suite of the Abu Dhabi Commercial Bank payroll services.
For instance, the bank’s electronic salary transfer feature generates salary information files from the existing payroll output file, provides end-to-end SIF file validation, and enables communication via Bulk Upload or Host-to-Host, while?ACK/NACK file facility provides the instant status of WPS file via Host-to-Host channel. Moreover, it has duplicate verification capabilities and in-built?email alerts.
Besides, ADCB ?business customers can avail of bill payment, corporate card issuance, online corporate frontline upload, instrument and advice printing, and other services.
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Nina Bobro
Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.
