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News

Xero partners with Flinks

Tuesday 19 December 2023 12:12 CET | News

Xero has partnered with Flinks to give small businesses in Canada and the US secure access to more than 20 direct bank connections and transaction data. 

 

According to the press release, the increased access for Xero customers to North American financial institutions can help small businesses and advisors recoup time previously spent on manual data entry and reconciliation. 

Xero has partnered with Flinks to give small businesses in Canada and the US secure access to more than 20 direct bank connections and transaction data.

 

With the largest network of financial institution partners with live direct bank API connections in North America, Flinks is set to provide new and secure bank feeds for customers in the US and Canada. For customers, this will include direct bank feeds with the National Bank of Canada and EQ Bank, as well as US-based banks. 

Bank reconciliation is essential for every small business, bookkeeper, and accountant but manually entering transaction data may take valuable time and introduce room for error, stated officials at Xero. The partnership with Flinks is just one more way Xero is expanding its bank feeds coverage to help provide Canadian small businesses with better visibility of their money coming in and going out. 

As new banks enter the market or improve their bank feeds, and Flinks makes new API feeds available, the partnership means Xero’s customers can benefit from these faster than ever. 

About Xero 

Xero is a global small business platform with 3.95 million subscribers which includes a core accounting solution, payroll, workforce management, expenses and projects. Xero also has an extensive ecosystem of connected apps and connections to banks and other financial institutions helping small businesses access a range of solutions from within Xero’s open platform.  

In November 2023, Xero launched two new payment features powered by Open Banking and e-invoicing, to optimise the way UK-based SMEs manage their cash flow. The Open Banking payment solutions’ functionality was offered through a partnership between Xero and the financial services provider Crezco. One of the new features is represented by the bill payments product, which was developed to enable businesses to manage, approve, and pay bills without leaving the Xero platform. This will take place by setting up direct bank transfers as a payment method for bills while using Open Banking to batch pay multiple bills from their bank account.  

About Flinks 

Based in Canada, Flinks is a data connectivity, data enrichment, and Open Banking provider. With a large OAuth network and Open Banking solutions, Flinks seeks to enable businesses to securely connect to their customers' financial accounts, enrich this data, and utilise it to deliver better digital products. 

Source: Link


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Keywords: partnership, Open Banking, SMEs, banking, API, financial institutions
Categories: Banking & Fintech
Companies: Flinks, Xero
Countries: Canada, United States
This article is part of category

Banking & Fintech

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Xero

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