Deliver next generation financial services with Xero

Integrate with Xero

The financial web uses two-way data share between your bank and Xero to drive financial services innovation for our joint small business customers.
Together, the outcome for small businesses is more accurate business insights, automated safer payment solutions and easier access to capital. This leads to a thriving small business economy who connect to Xero and your bank.

Start your Financial Web journey with Xero by integrating direct bank feeds.

Direct bank feeds

Bank feeds are the foundation of every Financial Web integration, on average over a 12 month period, 44 million bank statement lines are processed inside Xero. We connected our first direct Bank Feed with ASB on 4 March 2007 and now have over 100 direct bank feed connections globally.

Bank feeds enable a secure transfer of account data from your secure banking site to Xero. Once direct feeds are set up, data flows seamlessly from the bank account into Xero without human intervention. Xero’s bank reconciliation tool adds a rich layer of information over the raw financial data to ensure a business has an up-to-date view of their cash flow position.

Direct feeds are important to the financial success of small businesses, and as such, we offer varying levels of bank feed integrations with Xero, depending on the size of your financial institution and the partnership opportunities.

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Safer payments

The importance of payments for a small business is more than just getting paid faster. It’s about streamlining processes, providing small businesses a choice of ways to pay their bills and get paid by their customers, accessing tools that automate data flowing in and out of Xero and above all, having peace of mind that there are processes in place to mitigate damages, whether administration mistakes or fraudulent activity.

Making payments

Between June 2015 and 2016, 97 million accounts payable invoices were processed in Xero. On average, 500,000 people are paid each month through Xero.

When your bank integrates with Xero, you create a seamless, automated process for small businesses to pay bills and pay their staff between Xero and your bank payments system. Automated processes, such as automated batch payment processing, reduce the opportunity for manual error or manipulation of data creating a safer payments process.

Working together to find accounts payables solutions for small business results in a two-way data connection between Xero and your online banking platform.

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Receiving payments

Receiving payments is critical for business; in the 12 months to June 2016, 120 million accounts receivable invoices were raised within Xero. Chasing payments from customers continues to be one of the greatest pain points for small business. Work with Xero to enable small businesses to accept online credit card payments or payments through internet banking by imbedding a ‘Pay by bank account’ payment button on their online invoices. Authorisation from within Xero connects the customer to your online banking platform, allowing for immediate payment of the small business invoice. The invoice is immediately marked as paid within Xero.

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Small business lending

Our ultimate aim from the Financial Web is to unlock capital for our small business customers. Use of accounting data to make lending decisions is well established. Leveraging Xero APIs takes it forward a whole generation. When you integrate with Xero, small business owners can authorise and securely share their financial reports with your bank through permissioned API access into Xero so you access high integrity data transferred directly from Xero, to assist your lending decisions.

Together, we can reduce the hoops that small businesses jump through to access capital ensuring your bank offers competitively priced lending solutions.

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Join the financial web

If you work at a bank and you're ready to connect with Xero, get in touch here – we'll email you back right away.

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