Xero has announced five major fintech integrations with Tide, Starling, TransferWise, Revolut and Soldo.
The global small business platform has integrated with these five companies to enable SMEs in the UK to have access to more financial information at no extra cost.
These new integrations demonstrate the success of Xero’s new bank feeds API, which uses secure standards – including OAuth – to connect businesses with vital data from the financial sources they use daily in one platform.
In addition, Xero has been granted Account Information Service Provider (AISP) status by the FCA, enabling it to take advantage of Open Banking in the UK.
“These new integrations have been some of the most requested from our customers and with the new Xero bank feeds API, financial institutions can bring these innovations to market faster than ever,” said Edward Berks, director of platform business at Xero.
“As the UK moves to an Open Banking regime, these innovations will enable businesses and their advisers to gain access to the financial information they need to make crucial business decisions, without bank feed charges.”
He explained that the UK had a dynamic fintech sector and the latest Open Banking regulations had enabled a huge shift in the banking landscape.
“With [the] continued development of the Xero platform, we can offer automation at scale for small businesses and accountants.”
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