- Xero, a global small business platform, will partner with Flinks, a leading provider in open banking, to enable its US and Canadian customers to securely access over 20 direct bank connections and high-quality transaction data.
- The partnership with Flinks will help small businesses and advisors save time previously spent on manual data entry and reconciliation, aiming at increasing efficiency.
- With this integration, Xero’s customers will have direct bank feeds with the National Bank of Canada and EQ Bank, among others.
The partnership between Xero and Flinks aims to give small businesses in the U.S. and Canada secure access to their transaction data. This collaboration provides more than 20 direct bank connections for Xero customers, thus encouraging efficient financial practices among small business owners.
The partnership will significantly reduce time spent on manual data entry and reconciliation, a process that also introduces room for error. It essentially enhances visibility on money inflow and outflow, thereby ensuring a smoother operation of their businesses. Small businesses will hence spend less time on administrative and accounting tasks and focus more on scaling their operations.
Flinks, having the largest network of North American financial institutions with live direct bank API connections, will provide high-quality secure bank feeds for Xero’s customers in the U.S. and Canada, including the National Bank of Canada and EQ Bank, among others.
Both Xero and Flinks promote the adoption of open banking and are committed to providing solutions to make doing business easier. Open banking will allow enhanced use of data, providing better outcomes for small businesses. The partnership ensures that Xero’s customers benefit from faster and more reliable banking data feeds into the accounting platform.
Key representatives from Xero and Flinks have welcomed the partnership, reinforcing their commitments to support small businesses. They have also emphasised their joint mission to champion the benefits of open banking.
