Axos Bank has selected Priority Rollfi to enhance its digital banking platform with Back Office Payroll solutions. This partnership follows a competitive RFP process. It aims to improve commercial banking services for clients nationwide. Axos will integrate Rollfi’s modular, API-based technology. This system automates critical payroll processing tasks. The bank serves as the nationwide subsidiary of Axos Financial, Inc. It manages approximately $27.4 billion in consolidated assets. This collaboration underscores a commitment to providing modern, integrated financial tools.
The new technology allows commercial clients to manage financial operations in one place. Rollfi provides white-label payroll and benefits infrastructure for financial institutions. This system streamlines tax compliance. It also connects employee benefits management directly. The platform uses an advanced Flow of Funds framework. This helps banks optimize deposit retention. These tools provide the flexibility needed within a broader product architecture. Consequently, business owners can experience faster and more efficient management. They can now handle daily operations with greater ease.
Modernizing Digital Banking for Commercial Customers
This integration reflects the growing demand for embedded business functionality in banking. Banks can now offer high-value services. They can do this without building their own internal systems. Rollfi’s infrastructure is specifically designed for quick deployment. It also offers full regulatory coverage. This approach helps platforms unlock new revenue. It also boosts customer retention. Furthermore, it provides valuable data insights for better decision-making.
“By partnering with Rollfi, Axos Bank is advancing our goal of providing modern, integrated solutions that make back office management faster, easier, and more efficient,” said Christian Santaniello, EVP at Axos Bank.
“We’re proud to support Axos Bank as they modernize their back-office product stack,” said Rollfi founder Kirubha Perumalsamy. “Our embedded payroll and benefits infrastructure is designed for financial institutions that want to deliver high-value business functionality without the burden of building or maintaining their own systems.”
Explore Finance Tech News for the latest innovations in financial technologies and expert insights shaping the future of digital finance!
News Source: Businesswire.com
