Key Features of the Illuminus Bank Payroll System
1. Automated Salary Payments
Seamlessly process employee salaries on time, every time.
- Supports direct deposits for faster payments.
- Customizable pay schedules (weekly, biweekly, monthly).
2. Tax Compliance & Deductions
Reduce errors with automated tax calculations and deductions.
- Automatically deducts income tax, social security, and retirement contributions.
- Generates tax reports for easy filing and compliance.
3. Multi-Currency Payroll
Global payments made simple.
- Handles multi-currency transactions for international employees.
- Offers competitive exchange rates for seamless global payroll.
4. Employee Benefits & Bonuses
Reward employees effortlessly.
- Supports bonus payments and performance incentives.
- Integrated benefits tracking for health insurance, pensions, and perks.
5. Payroll Reporting & Analytics
Data-driven insights for better financial management.
- Generates customized reports on salary expenses, tax liabilities, and payment trends.
- Real-time tracking of payroll expenditures.
6. Secure & Compliant Transactions
Ensuring payroll safety with advanced security.
- End-to-end encryption for payroll data protection.
- Two-factor authentication (2FA) for payroll access and approval.
7. Employee Self-Service Portal
Empower employees with financial transparency.
- Employees can view pay slips, update tax details, and access benefits.
- Instant notifications for salary deposits and deductions.
🔄 How the Illuminus Bank Payroll System Works
Step 1: Business registers with Illuminus Payroll Services.
Step 2: Employers set up payroll preferences (salaries, deductions, payment schedules).
Step 3: Employees receive direct deposits automatically on payday.
Step 4: Taxes and benefits are auto-deducted, ensuring compliance.
Step 5: Employers access payroll reports and analytics through the Illuminus Business Portal.
Exclusive Payroll Perks
✅ Zero Processing Fees for the first 6 months of payroll setup.
✅ Early Wage Access for employees—get paid before payday with flexible withdrawal options.
✅ Loyalty Benefits—businesses earn reward points on payroll transactions, redeemable for discounts on financial services.