Over eight years ago, ANZ and Xero first partnered together to provide bank feeds for small businesses in Australia. At the time, ANZ was just the second bank to provide daily automated bank feeds through Xero in the country. The move was a major step in allowing small businesses and their advisors to see complete up-to-date picture of our cash flow and business finances on the Xero dashboard.
Now, ANZ will release a new, digital way to apply for direct bank feeds to help small businesses ditch the paperwork.
No more paper
This upgrade means instead of the current lengthy process of manual forms to activate bank feeds, small businesses can now apply directly via their ANZ online banking platform.
Both Xero and ANZ want to improve the process for every customer. This means not only making it more efficient but also making it more secure. Once a customer has entered their Xero details into ANZ internet banking, they’ll begin receiving bank statement transactions the following day.
For advisors, instead of asking clients to sign and scan a form, you can ask them to simply go to their ANZ internet banking, and request a connection from there.
Working with banks to work with you
We recognise that connecting small businesses to their banks is vital to enabling solutions for their business. Xero has an important part to play in providing leading technology to reduce paperwork and red tape.
That’s why we strive to work closely with different institutions to improve banking processes for small businesses and their accountants even further. This means not only making it more efficient but also making it more secure.
Changes to the way ANZ customers can apply for bank feeds through Xero will take effect from the 9th September. For further updates head to our bank feeds information page or the help centre.