How it Works – Digital Vault
How it Works
Backdrop
A survey by CIPP revealed that 70% of people check their payslips every time they get paid and more than 95% of organisations say that they use some form of electronic method of distributing payslips. The most noticeable change in the last ten years is the impact of electronic payslips. Back in 2008 only 12.4% of organisations were providing a self-service option for payslips. In contrast by 2018, that figure has risen to 60.2%. And it’s fair to assume the rise in electronic payslips has made a positive contribution to reducing staff workloads: with a marked reduction in printed payslips distributed by the payroll department.
In previous years, companies have cited needing to provide print to people who are off sick, work outside the UK, who have no permanent workplace or simply want a choice of print and online. Many of these reasons are removed by electronic payslips which are accessible at work, home and on-the-go. Also, employee confidence in digital payslips also seems to be improving with concerns around security and identity fraud at an all-time low. The results suggest complaints over confidentiality (in respect of personal information on payslips) dropping by 46.6% and identity fraud concerns by 36.0%.
However, Reganto has changed the definition of digital payslips and employee pay data. It isn’t just a platform that provides employees access to their pay data. It is a platform that changes what financial wellbeing could mean to them. It answers the primary concern behind security and identity fraud as it is built on one of the world’s most advanced secured Blockchain networks – ensuring your employee pay data is protected by unrivaled and impregnable encryption.
Solutions Overview
Reganto is a revolutionary way of taking care of your most valuable assets – your employees.
Our platform helps your employees be more informed about their finances allowing them to view all their financial earnings, spanning their entire career at one place. Reganto gives access to everything you need to know about your financial data. Whether you would want to see just your net pay, or view more details, Reganto gives a simple, comprehensive view of your data whilst also making it easy for you to delve into the detail of your payslip, where required. Your pay is displayed in a clear and easy to understand format without the jargon.
Reganto lets your employees compare different periods of pay, view specific pay data, deductions, gross and net pays and so much more; in an interactive and informative dashboard – helping them understand their finances and make better money decisions. It provides your employees a unique insight into their pay history giving them a never seen before experience with their financial data.
How it Works
We have pioneered the use of Blockchain in Payslips – the first company in the world to do this using Hyperledger based private Blockchain.
Reganto is built on the world’s most advanced cloud systems leveraging the best of Microsoft Azure. The architecture is underpinned by one of the world’s first production-grade private Blockchain – making the platform the most secure and robust system currently available. Each financial document generated by your organisation is stored on Blockchain providing unique ownership of authentic employee data back to them available anytime and anywhere.
With DigiID™, Reganto uniquely identifies each document that has been generated by your organisation. This enables easy app-based authentication of any document published on Reganto.