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

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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