Cloud-based employment benefits provider Selerix Systems is working with Paycor, a provider of human capital management (HCM) solutions, to debut a new, real-time application programming interface (API) integration system, according to a press release.
With the partnership, groups on Selerix’s BenSelect platform will now have access to a seamless synchronization process for their data with Paycor’s payroll software, the release stated. The companies tout it as an improvement over the old, manual processes in keeping with the current trend of digital shifts in payments, particularly amid the pandemic.
The feature is available at no cost, and the release noted that users will also have access to a dashboard to review and approve changes before they’re committed in either system.
Selerix President Lyle Griffin said in the release that the objective is to keep improving the experience for customers.
“Organizations using the traditional method of manually exchanging data files can now enjoy the most important advantage of API integration: synchronicity,” he said, according to the release. “The systems simply stay in sync all the time, virtually eliminating the inefficiencies of a traditional file exchange process. Most importantly, this allows customers to enjoy a comprehensive, best-in-class solution, without compromising benefit administration.”
The aforementioned digitization of payments can end up freeing time for companies as they don’t have to worry about the manual processes. Lisa Shields, founder and CEO of FISPAN, spoke with PYMNTS on the shift likely to come for banks.
“What I think is really interesting for banks is that business banking personalization opportunities can be predicated on intentional sharing of actual data with bounded and enforced usage rights around that data,” she said.
Shields said business banking is evolving away from an ad-based platform, with relevant banks likely looking to facilitate trusted data in useful, new ways, she said. Through innovations like artificial intelligence, context can be added to the banking experience, and the level of service can be improved.