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Intuit, Bank of Montreal include QuickBooks software in bank's API portal

Monday 17 August 2020 11:56 CET | News

The Bank of Montreal (BMO) has created an API portal to allow small business clients to share their data with Intuit’s QuickBooks accounting software suite.

BMO’s management noted that the portal aims to allow customers to share financial data with QuickBooks Online, while allowing SMBs to save time. With this update, small businesses won’t have to navigate between their online banking services and accounting software. QuickBooks is an accounting software package that has been developed by Intuit, intended mainly for SMBs. It provides on-premises accounting applications and cloud-powered versions that accept business payments, manage and pay bills, and support various payroll functions.

At present, the portal is being tested and may be introduced in 2021. Customers will continue to maintain ownership of their financial information. User data may only be shared after obtaining permission or consent from the owner(s) of the data, according to crowdfundinsider.com.

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Keywords: Bank of Montreal, BMO, Intuit, QuickBooks, QuickBooks Online, accounting software, API, API portal, small businesses, financial data, online banking, applications, cloud, business payments, bill payments, bill management, payroll, financial information, consent, ownership
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Canada
This article is part of category

Banking & Fintech