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Xero, the small enterprise platform, has teamed up with open banking firm Flinks to provide small companies in Canada and the US safe entry to greater than 20 direct financial institution connections and high quality transaction information.
The improved accessibility for Xero prospects to North American monetary establishments is designed to help small companies and advisors in reclaiming time beforehand spent on handbook information entry and reconciliation.
Flinks, boasting the most important community of monetary establishment companions with stay direct financial institution API connections in North America, will ship recent and safe financial institution feeds for shoppers throughout the US and Canada. The service encompasses direct financial institution feeds from establishments just like the Nationwide Financial institution of Canada and EQ Financial institution, in addition to main US-based banks.
Faye Pang, nation supervisor, Canada at Xero, mentioned: “Financial institution reconciliation is crucial for each small enterprise, bookkeeper and accountant, however manually getting into transaction information takes valuable time away from working the enterprise and introduces room for error.
“Our partnership with a Canadian grown success story, Flinks, is only one extra approach we’re increasing our financial institution feeds protection to assist present Canadian small companies with higher visibility of their cash coming in and going out.”
Whereas Ben Richmond, nation supervisor, US at Xero, additionally commented: “Xero is dedicated to repeatedly bettering US and Canadian financial institution feeds in response to buyer suggestions, and tackling the broader trade problem of getting dependable banking information into accounting platforms in North America.”
Advantages
Xero and Flinks say they perceive the advantages of open banking and are devoted to the implementation of options that make doing enterprise simpler, making the partnership seamless from each a technical and cultural perspective.
Each companies proceed to champion the advantages and position open banking will proceed to play in guiding the accountable use of knowledge and offering improved outcomes for small companies — together with dependable financial institution feeds.
“We strongly imagine the advantages open banking will present for shoppers and companies. This partnership is proof of that,” mentioned Frédérick Lavoie, co-founder & COO, Flinks. “Together with our dedication to increasing our direct financial institution community, we’re excited to work with Xero to empower companies to take their monetary operations to the subsequent degree.”
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