Prime Blog

October 2016

Xero now has direct bank feeds from Barclays bank!

We first began using Xero, ‘the world’s most innovative growth company’ (Forbes 2015 & 2016) way back in 2009. Later that year Xero was the first cloud accounting software provider in the UK to introduce automated bank feeds, followed by aggregated bank feeds the following year. Back then most UK banks didn’t have the internal infrastructure to offer direct feeds, so aggregated feeds were the only realistic solution, although requiring more housekeeping.

Xero, like Prime, aim to simplify business and because of this have worked hard to agree direct bank feed supplies from the following banks: HSBC, NatWest, RBS, Metro Bank, Santander, Silicon Valley Bank and now Barclays!

That’s right, as of October businesses with a Barclays accounts have full access to the direct bank feed service. This means less time spent on bookkeeping, making your accounting function more cost efficient.

As a forward thinking company ourselves, we chose to partner with Xero as they are constantly looking into areas of development, put security and ease at the forefront and fully understand the importance of the relationship between a client and their accountant.

So, where are Xero looking to go from here?

As well as continuing to confirm direct feed agreements with other banks, Xero see’s direct bank feed technology as the foundations for the next phase of deeper integration between accounting software and banks. Direct feed technology forms a critical part of Xero’s ‘Financial Web vision’ for the UK and highlights their commitment to ‘bring banking right to the heart of small business accounting’.

The cloud has transformed how we simplify business for our clients and the real time information in your accounts can have a positive effect on your business and not just completed for compliance.

To arrange a free, no obligation meeting to discuss how Prime can simplify Xero for your business, email me today on [email protected]

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