The Corporate Payroll Services Service Domain handles payroll payment processing for the employees of a corporate customer.
Examples of Use
A Corporate customer engages the bank to handle its staff payroll payment processing. It incentivizes its employees to open accounts at the bank to facilitate payment and arranges for employees to provide all necessary account details to support payroll processing
The Corporate Payroll Services Service Domain processes net salary payments for corporate customers’ employees. Employee and payment details are provided by the corporate and the bank coordinates payments to any employee accounts held at the bank and makes payments to other banks with the employee as the beneficiary as necessary.
Related Business Scenarios
Core Business Object
- Support the set-up and maintenance of the corporate employee payment details
- Process periodic payroll processing
- Handle issues that may occur in payment processing
- Provide status and activity reporting to the corporate for internal control