Paywatch gives MUI employees instant access to wages

Malayan United Industries Berhad (MUI) has partnered with Paywatch, Asia’s first bank-backed earned wage access (EWA) provider, to financially empower its employees. The partnership will see all staff under MUI Group - including the group headquarters, Corus Hotels, Metrojaya and PM Securities - offered automated flexible payroll. The service provides instant access to earned wages through reputable banks.

MUI chairman Andrew Khoo, made the move as part of plans to spearhead a new era of transformation and innovation for the conglomerate. Through Paywatch, Khoo aims to effectively empower MUI Group’s employees with more control over their finances through instant access to their earned wages. With digitalisation being a key priority for MUI’s future, Paywatch bridges the administrative gap between on-demand salary requests and the necessary administrative processes for these instant salary payouts, effectively leveraging technology to automate backend processes within the business.

“MUI Group is entering a new era of business transformation and we aim to stay at the forefront of the implementation of technological advancements to cement our position as one of Malaysia’s leading conglomerates. With this, it’s critical that we continue to provide the best employee experiences within our brands.

"On-demand salary through Paywatch is the latest addition to our lineup of ESG initiatives designed to increase employee welfare through more financial flexibility. From experience, employees that are well taken care of also create happier customers, so EWA has proven itself as a win-win solution for us,” said Khoo.

“Payroll is a key business function that is closely tied to employee satisfaction and wellness, and yet transformation within this area is often overlooked. Paywatch is a gamechanger when it comes to rethinking payroll, and our employees are excited for our partnership which gives them more flexibility and ownership of their finances through instant access to their salaries.”

Alex Kim, President and Co-Founder of Paywatch said: "We truly believe in MUI’s mission to reimagine how businesses operate in Malaysia and are proud to partner with an iconic business where their vision for employee wellness and empowerment matches our own. We’re excited to provide MUI’s employees with more autonomy and flexibility in their financial management. As more businesses in Malaysia embrace digital solutions, we are heartened to see an increase in adoption of innovative employee wellness solutions such as EWA, which can drastically improve employees’ quality of life."

MUI Group is one of many Malaysian conglomerates to partner with Paywatch. Since 2022, PayNet, CP Group (Lotus’s), Wilmar Group, PPB Group (including FFM, Massimo Breads), QSR Brands Group (including QSR Trading, KFC, Pizza Hut), Cosway, Shopper360 and more have already implemented Paywatch as part of their journey towards a better financial future for their employees.

National Bank of Kuwait offers automated payroll services

Source: NBK website. Salary Portal services
include remote transfer of salary.

The National Bank of Kuwait (NBK) has introduced a salary portal to help business owners pay salaries and comply with all Ministry of Social Affairs and Labor reporting requirements easily.

“NBK is always looking for simple and convenient solutions to make banking easier and more efficient for our customers,” said Faisal Al-Fulaij, Deputy Head of Business Banking National Bank of Kuwait, “We take a lot of time to know our customers’ needs and create innovative, easy-to-use products to that end.”

With the NBK Salary Portal companies can transfer monthly allowances or salaries each month remotely. The salary portal then processes the salaries and creates a record of the payments which is then automatically sent to the Social Affairs and Labor Ministry of Kuwait. This simplifies compliance with government regulations and also creates an audit trail while reducing errors or inconsistencies. NBK charges KD1 per salary for the service.

NBK has 13 dedicated business banking hubs around the country including at the Head Office, Surra, Shuwaikh, Al Tadamoun, Mubarak Al-Kabeer, Jabriya, Arraya Tower 2 (fifth floor), Fintas, Salwa, Sharq, Al Ghazzali, Ras Salmiya and Hawally. The hubs are staffed with relationship officers dedicated to serving the needs of business banking clients. NBK Business Banking also offers point of sale, business credit cards, online banking, insurance, business loans, letters of credit and guarantee and local bill services.

Excelity Global to offer HR, payroll services in Indonesia via Cekindo Bisnis

Singapore-headquartered Excelity Global Solutions, which says it is the largest Asia-based payroll service provider,will offer its solutions via Jakarta-based Cekindo Bisnis Grup in Indonesia. Excelity Global provides payroll outsourcing, operating its proprietary platform in 19 countries across Asia Pacific with delivery centres in India, Singapore, China and the Philippines. It also offers human capital management (HCM) cloud services in the software-as-a-service (SaaS) and platform-as-a-service (PaaS) models.

The largest economy in Southeast Asia, Indonesia is generally served by small and medium sized enterprises (SMEs) targeted by Excelity. SMEs comprise more than 98% of companies in the country and account for 58.1% of Indonesian gross domestic product (GDP).

Excelity expects its partnership with Cekindo, which provides market-entry and corporate secretarial services including payroll solutions, to help companies streamline their human resource (HR) and payroll processes. Aju Murjani, MD, ASEAN, Excelity Global Solutions said the partnership fulfills mutual ambitions. "Cekindo's dedicated team, with a deep understanding of the market and vision to disrupt the market, is a natural fit for us," he said.

Michal Wasserbauer, Principal Consultant, Cekindo Bisnis Group, said, "Excelity is the largest Asia- based payroll provider with excellent payroll cloud solution which is tailormade for Indonesia market. We believe that cooperation with Excelity will be another important milestone for both of our companies which bring a lot of new benefits for our cur rent and future payroll clients. "

Excelity Global processes more than 1.2 million payslips per month in 19 countries across Asia Pacific.

posted from Bloggeroid