Using Open Banking to reconcile business accounts
Xero’s cloud-based accounting software connects people with the right numbers anytime, anywhere, on any device. For accountants and bookkeepers, Xero helps build a trusted relationship with small business clients through online collaboration. They’re proud to be helping over 2 million+ subscribers worldwide transform the way they do business.
What's the Open Banking use case?
Xero has been delivering on the principles of Open Banking for more than 10 years. Their bank feeds have enabled small businesses to connect their bank accounts to Xero so that transaction data automatically flows in – meaning easy reconciliation and greater visibility of cash flow. In addition, the new bank feeds allow you to connect directly through a completely digital process. This means transactions are transferred through a direct connection between your bank and Xero, rather than using screen scraping.