From May 2015, Xero Partners and their customers who bank with NAB will have coverage of all accounts available in NAB internet banking. Such large ambitions are never simple to deliver. But with the help of virtual teams across our businesses, we’ve developed a game-changing experience for NAB and Xero customers.
What can small businesses look forward to?
From May 2015, Xero Partners and their customers who bank with NAB will enjoy full coverage of NAB accounts. That’s over 200 products and 35 account types. This seamlessly integrated, automated experience gives small businesses a holistic view of their business. It will help them make decisions based on a complete financial picture. All products available in NAB internet banking will be available for Xero Bank Feeds. This includes loans, offset accounts and credit cards.
But we’re not stopping there. The two-way, online authentication opens the door to new possibilities for small business accounting. Our teams connect closely with NAB’s, and Xero will continue to lead innovation in cloud accounting.We’re working hard to bring new features to our product soon. This will allow small businesses to get on with running and growing their business.
Key facts around how we are innovating with NAB
- This is not just an online form like some have experienced before. Feeds are set up immediately and automatically, with data flowing overnight and available the next day.
- NAB is the first Australian bank with core API technology linked to Xero’s accounting cloud ecosystems.
- Xero is one of the first external partners to connect through NAB’s API platform – linking a customer’s internet banking profile to their Xero account.
- The API technology used to connect Xero and NAB has opened up new possibilities. We’re talking linking payroll, processing accounts payable, and speeding up approvals.
So if you’re a Xero customer with National Australia Bank, you’ll be invited to experience direct bank feeds. Simply put, it’s easier to track your finances when you’re on the go.
What happens next?
You’ll able to access this functionality via NAB Internet Banking from late May 2015. Keep an eye out for more information from NAB, and of course we’ll keep you in the loop too.
Ultimately, we want you to spend less time entering data and filing paperwork. This way you have more time for growing your business and working with your clients. This initiative between NAB and Xero is another exciting chapter for us. We’re working to make life easier for Aussie small businesses.