Xero and Flinks Partner to Empower Banking Data Access for SMB
Unlocking Efficiencies and Precision in Financial Management
In a groundbreaking move, Xero, the global small business platform, has joined forces with Flinks, a trailblazer in open banking, to empower small businesses in Canada and the United States with secure access to over 20 direct bank connections and top-notch transaction data. This dynamic partnership aims to transform how small businesses manage their financial information, heralding a new era of efficiency and accuracy.
The pivotal development comes as a solution to small businesses’ longstanding challenge: manual data entry and reconciliation, which consume valuable time and introduce potential errors. With Xero and Flinks at the helm, these issues are poised to become relics of the past.
Flinks, boasting the largest network of financial institution partners with live direct bank API connections in North America, will provide Xero customers with a treasure trove of secure and high-quality bank feeds. Among the beneficiaries are customers of the National Bank of Canada, EQ Bank, and various US-based banks.
Faye Pang, Country Manager, Canada at Xero, stressed the significance of this collaboration, saying, “Bank reconciliation is essential for every small business, bookkeeper, and accountant, but manually entering transaction data takes precious time away from running the business and introduces room for error. Our partnership with a Canadian-grown success story, Flinks, is one more way we expand our bank feeds coverage to help provide Canadian small businesses with better visibility of their money coming in and going out.”
For Ben Richmond, Country Manager, United States at Xero, streamlining data access is paramount. He remarked, “Seamlessly getting data into the Xero platform is crucial for small business success. Xero is committed to continually improving US and Canadian bank feeds in response to customer feedback and tackling the broader industry challenge of getting reliable banking data into accounting platforms in North America.”
This collaboration isn’t merely technical; it’s rooted in a shared commitment to the potential of open banking. Xero and Flinks are dedicated to implementing solutions that make business operations smoother. They are also passionate advocates for the responsible use of data, especially when providing improved outcomes for small businesses.
Frédérick Lavoie, Co-founder & COO of Flinks, emphasised their belief in the transformative power of open banking, stating, “We strongly believe the benefits open banking will provide consumers and businesses. This partnership is proof of that. Along with our commitment to expanding our direct bank network, we are excited to work with Xero to empower businesses to take their financial operations to the next level.”
As new banks enter the market or enhance their bank feeds, Xero’s partnership with Flinks ensures that its customers can quickly reap the benefits of these developments. The era of enhanced efficiency and precision in financial management has arrived, thanks to this groundbreaking partnership between Xero and Flinks.
About Xero
Xero is a global small business platform with 3.95 million subscribers, offering core accounting solutions, payroll, workforce management, expenses, and projects. With an extensive ecosystem of connected apps and connections to banks and other financial institutions, Xero empowers small businesses to access a range of solutions from within Xero’s open platform to help them run their business and manage their finances. Xero is also a FIFA Women’s Football partner.
About Flinks
Trusted by millions of individuals across North America accessing financial services at world-class companies, Flinks is a leader in data connectivity, data enrichment, and Open Banking. With the largest OAuth network and reliable Open Banking solutions, Flinks enables businesses to securely connect to their customers’ financial accounts, enrich this data, and utilise it to deliver better digital products.
