HSBC has partnered with accounting software providers Xero, Sage and Intuit to introduce a new online tool that will improve financial data management for its SME clients.
Using the tool, customers will be able to connect their bank account to any of the aforesaid accounting software vendors through a transaction data feed.
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HSBC said that the tool will offer clients more tailored data on their financial position with a few clicks, in turn improving their business decisions.
The solution will be made available on Xero and Sage next month and soon on Intuit’s QuickBooks for UK businesses. It will also be launched for Hong Kong businesses in the next few weeks, with plans for a broader rollout next year.
This collaboration will enable business customers to connect their bank accounts to their choice of accounting package using a digital solution and establish a secure, reliable transaction data feed.
HSBC global head of business banking digital Nadya Hijazi said: “This digital solution provides customers with the financial information they want, when they want, and where they need it – rather than having to visit their online banking site to retrieve the information.
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By GlobalData“This service is one of the first of a series of innovative digital solutions we are developing for SME customers and we’re excited to be addressing some of the challenges these customers face on a day-to-day basis.”
