Veremark: Matching the Needs of Banking Tech Innovation

Today, getting the right talent is basic to meeting the development and goals of any organisation. A culture of innovation is vital for the business and their partners.

For the longest time, there has been a need for specialised services for organizations in the FinTech space, which could provide hiring and onboarding support and training to meet business goals. Furthermore, the current work-from-home trends require new methods and tools to attract, interview, and employ people with the right skills and costs, often at a distance and across different time zones.

Veremark has a group of committed enrolment specialists, analysts and experts who exclusively focus on the FinTech market. They deal with areas such as Digital Payments and Banking, WealthTech, InsureTech and RegTech.

Veremark offers the following benefits:

1. Blockchain for Verified Candidate Data

The utilisation of blockchain for enrolment isn't standardised yet, however, only a few organizations and specialists have been able to utilise its potential for improving the processes altogether. With blockchain, organizations can discover confirmed, up-to-date information in private while maintaining privacy guidelines. 

Having undeniable information is key since TA [talent acquisition] offices manage basic data like record verifications, academic checks, professional qualifications checks, compensation history, and so on. With Veremark’s blockchain-based platform, businesses can scale the breadth and depth of background checks as needed, covering all of the following:

• Academic checks
• Professional qualifications checks
• Financial regulations check
• Background check
• ID check
• Global sanctions check
• Reference check
• Criminal background check
• Adverse financial check
• Civil litigation check
• Adverse media check
• Directorship check
• Social media checks
• Regulations compliance

Once these checks are done, candidates are given a blockchain 'career passport' (R) which is a record of their specific verified credentials that can be used with employers and updated with any recent work history. 

2. Predictive Analysis for Talent Search

Predictive analysis in enrolment involves the utilisation and investigation of verifiable information to make future forecasts, expected to illuminate future hiring set-up, deploying choices, and training. By recognising past patterns in information, predictive analysis can furnish selection and hiring leaders with bits of knowledge for predicting future events. It permits leaders to point out patterns with a critical level of assurance, helping them in streamlining their activities for better outcomes. Apart from helping in selecting and employing experts, predictive analysis can also help in the following ways:

• Identifying the strongest recruits for open positions
• Making speedier and better proposals to applicants
• Providing a superior candidate experience

Veremark's strong dashboards and reporting tools, available across all devices, help HR & Talent leaders to have up-to-date and accurate information, which helps them make short-term and long-term decisions.

3. Big Data for Background Checks

If HR contributes to making a poor hiring decision, there is a significant knock-on of risk to the reputation and performance of the business. Hence, with the help of rich, aggregated, and constantly evolving data they can become a significant contributor in mitigating such risk. Talent leaders and hiring managers can benefit from the data that is joined and cross-referenced across social-media and internet profiles, other publicly available data, and API connectivity to numerous databases and help make the right hiring decision about a candidate.

4. Analytical Research for Training

Enrolment usually involves processes that range from sourcing and selecting to recruiting. This implies that every bit of detailed information needs to be identified in order to identify patterns. For instance, if fresh recruits leave within the first three months in an organisation, it indicates wrong selection decisions or improper onboarding training. Thus, proper analytical research is required to enhance productivity and performance in a company. 

Veremark's techniques are integrated with many HRTech platforms such as Applicant Tracking System (ATS), Customer Relationship Management (CRM) frameworks and Human Resources Information System (HRIS) to help hiring leaders and talent acquisition teams to hire, onboard, track, and review improvements and innovation needs in their people strategy and plans.

Veremark is constantly innovating its software and service, using blockchain, predictive analytics, Artificial Intelligence, automated processes, HRTech platform integrations, and the best security, connectivity and operations, to help businesses make informed, smart, and safe hiring decisions.