UnionBank rolls out payroll account opening solution

Employees can open accounts by scanning a QR code.

Union Bank of the Philippines (UnionBank) has introduced Zero-Touch Onboarding, a payroll account opening solution that promises to cut down the process to less than 24 hours.

Employees can open accounts using their mobile phones by scanning a QR code generated through The Portal, UnionBank’s business banking platform. HR employees will no longer need to process each employment document, UnionBank said in a press release.

In contrast, the industry norm sees HR and operations teams of companies spend days to collect documents, screen applicants, and coordinate with banks for payroll.

Once accounts are open, the employees’ account numbers can be seen on The Portal.

This is the first payroll account opening solution that requires no manual intervention, UnionBank said.