Access Bank Ghana has outdoored a new product it says is an upmarket payroll solution that enables payroll processing, payments, reporting and reconciliations.
The Access Bank Remita Payroll is the result of a strategic alliance between Access Bank and SystemSpecs, a pioneer software development company with a focus on Africa.
The Remita Payroll service provides easy payroll processing and salary e-payment on a single platform, according to the bank, which explained that the service also makes it possible for customers to easily process all salary-related allowances and deductions as well as make automated remittances of funds and schedules for SSNIT contributions, Tax payments, and Union dues, among others.
The bank touts as one of the major advantages of the service, which is available online and on mobile, its “ability to fully eliminate the need for organisations to process payroll on one platform and then take the data to another platform to transfer salaries, or send salary schedules to various banks. It further provides added security and significantly improves operational efficiency and effectiveness.”
At a short ceremony to launch the service and sign the agreement between Access Bank and SystemSpecs, the Managing Director of Access Bank Ghana, Mr. Kris Ifeanyi Njoku indicated that this integration with the Remita Payroll System forms part of the Bank’s long-term objective of meeting the needs of various organisations when it comes to payroll management.
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“Our objective is to always give our customers a banking experience backed by need-based solutions that are powered by robust technology. Our partnership with SystemSpecs represents this desire, which also brings us closer to achieving our strategic objective of becoming Africa’s gateway to the world. Access Bank Remita Payroll provides customers with so much convenience to manage all their monthly payroll processes on a single platform and frees them up to focus on their core operations”, Mr Njoku added.
Speaking on the partnership with Access Bank and the benefits that the general public stands to gain, Demola Igbalajobi, Group Head, International Business at SystemSpecs said, “As technology providers, we are convinced that this partnership provides Access Bank’s customers and non-customers with new and exciting capability and flexibility for the management of payroll processing and payments at such a low cost. This aligns with our vision of becoming an institution of reference, especially in the provision of seamless technology solutions for payroll and payments management across Africa”.
The introduction of the Remita Payroll is also in line with Access Bank’s 5-year strategy, which is expected to accelerate the Bank’s growth and position it as a leading bank across its various operating markets by 2022.
The Bank’s strategy is underpinned by robust risk management together with high levels of automations, to enhance the compliance and risk functions and drive customer insights. It will also develop an integrated global franchise by strategically positioning itself in key African markets, enhancing collaboration in global financial gateways including London and New York, Asia and the Middle East, and strengthening its trade hubs in India, Dubai and China.
This year the Bank unveiled its remittance payment platform “Access Africa” across its operational countries to enable both customers and non-customers transfer money across Africa.