Canada’s first small business payroll system integrated with online banking was launched by Central 1 in July, starting with champion client Prospera Credit Union.
This innovation is transforming how Canadian small businesses operate by integrating their payroll with day-to-day online banking. Payroll is paid, reconciled, and securely stored in online banking, and it’s easily analyzed to help future business decisions.
Currently, banks connect to external payroll service providers but their users don’t have an integrated view of all their financial transactions built in, which eats up time that small business owners can’t afford to lose.
The Small Business Payroll solution supports the entrepreneurs and business owners who fuel Canada’s economy, along with the growing number of gig workers employed by these small businesses. The flexibility of this payroll solution allows business owners to pay all employees including full-time, part-time, seasonal workers, vendors and contractors.
This is the second service from Central 1’s Small Business product suite, following the successful launch of Small Business Invoicing in October 2017.