How Bankingly cut the cost of its HR software in half and got more with PeopleForce 🚀

Bankingly, a Uruguayan fintech with about 50 people in six countries, had HR software that worked. When it compared the market, it found in PeopleForce an option that cost half as much and, far from giving anything up, handled what the previous tool couldn't: a complete 360 performance review, both of its surveys at the same time, contractors inside the system and support one click away.

Case summary

Meet Bankingly

A Uruguayan fintech with a team spread across six countries

Bankingly provides digital solutions to financial institutions across Latin America. Its team is about 50 people: almost half work in Uruguay and the rest are spread across Argentina, Mexico, the Dominican Republic, Ecuador and other countries where the company serves its clients. People is led by Carolina Perrone, Head of People, who runs the function on her own.

The problem

Software that worked, but didn't cover everything

Carolina took over People on her own, with inherited processes that had worked at an earlier stage of the company and a team she had to get to know remotely. The tool they used did its job, but it had limits that showed up day to day. These were the challenges:

The change

Why did Bankingly choose PeopleForce?

Carolina wasn't looking to switch software: "It was working," she says. She started following PeopleForce webinars, and that's when she saw the chance to improve a few things. Knowing finance would ask what other options were out there, she compared the market, not just on cost but on the solutions each tool offered. PeopleForce offered a lot at once, and when it came to deciding, cost also mattered: it was cut in half. It wasn't a cutback. The cheaper option was also the one that solved what the previous tool couldn't.

Results

How did Bankingly pay half and get more? Before and after

Today the 360 performance review lives entirely in PeopleForce: each person completes their cycle inside the platform, reminders go out on their own and Carolina just follows the response rate. "I never got those Excel files again," she sums up. The satisfaction and well-being surveys, which used to be two separate processes, are now answered at the same time, more quickly, and the results arrive in a ready-to-read dashboard. "The dashboard, I loved it," says Carolina, who admits she's far from a data person and now analyzes the results without wasting time hunting for information.

A migration without losing history

Switching tools came with one non-negotiable condition: the history of active and former employees had to stay inside the platform and in view, not stored away in a folder. Carolina worked through it step by step with her Customer Success Manager, Calanit. "Without that support it would have been impossible to do it alone," she admits. In the middle of implementation, the performance review date arrived and they had to speed up, and the platform kept pace. Her advice for anyone considering a switch: don't underestimate the time a migration takes, so the information is protected and the investment makes sense.

A more self-sufficient team and budget for strategy

The team noticed the change too. There was no resistance at all: people check for themselves who's on vacation, how to request time off, what a policy says or who reports to whom, without going to Carolina first. The shared calendar, with absences, birthdays and work anniversaries, is employees' favorite feature. And when Carolina needs help, support chat is one click away, with a real person who answers fast, something the previous tool didn't have. What Bankingly stopped spending on software didn't go back into the general budget: it became room to invest in other People strategies. The next steps are already set: automating tasks with workflows and bringing managers' one-on-ones into the platform.

Why Bankingly recommends PeopleForce