BGL partners with Skript

As per the official press release, this collaboration is intended to connect BGL's Simple Fund 360 and Simple Invest 360 clients to the world of Open Banking. Moreover, this partnership also represents a leap forward in how BGL handles bank data feeds. It will enhance security, data quality, as well as the overall experience for clients and their customers. 

Skript’s partnership with BGL seeks to transform the landscape of bank data feeds and give Australian businesses and consumers enhanced security and better-quality data. Skript develops simple and accessible solutions that connect businesses to the world of Open Banking. Account holders who sign up to share their data through Skript are able to manage how Skript collects, uses, and discloses their data and withdraw their consent at any time. As stated by the company, this setup process takes less than 2 minutes.  

The integration between BGL and Skript will collect data from all Australian banks for transaction accounts, term deposits, loans, and credit cards and feed it into Simple Fund 360 and Simple Invest 360. All banks will provide historical data and include open and closed accounts. 

The BGL and Skript integration aims to replace the need for individual data feeds to be set up for every account, simplifying the sharing of bank data for SMSF Trustees and the collection of bank data for accountants or administrators. SMSF Trustees can authorise all their accounts for multiple banks in one process without the need for paper authority forms. 

Open banking, driven by the Australian Government’s Consumer Data Right (CDR) initiative, empowers individuals and businesses to have greater control and transparency over their financial data. CDR data recipients are accredited by the Australian Competition and Consumer Commission (ACCC). 

Skript is a provider of Open Banking infrastructure capabilities. As an Accredited Data Recipient under the Australian Consumer Data Right, Skript has verified access to all Australian banks.  

Skript’s purpose is to create simple and accessible solutions that connect businesses to the world of Open Banking. Its infrastructure capabilities go far beyond data and seek to make it possible to deliver banking services outside the banking environment. 

Based in Australia, BGL is a developer of SMSF administration, investment, and company compliance management software.