Scotiabank and Xero join forces to support Canada's small businesses with automatic bank feeds
Scotiabank and Xero, the global small business platform are, together, making it easier for Canada's small business owners and their accounting and bookkeeping advisors to simplify their financial administration tasks.
Scotiabank and Xero, the global small business platform are, together, making it easier for Canada's small business owners and their accounting and bookkeeping advisors to simplify their financial administration tasks. With Xero, Scotiabank's small business clients will be able to seamlessly access and integrate their business banking information with day-to-day operations, enabling cash flow visibility and reducing the time spent on manual, data import tasks.
"Scotiabank is committed to making it easier for our clients to run their businesses," said Chris Manning, Senior Vice President of Global Business Payments at Scotiabank. "Working with Xero, Scotiabank will provide business clients with the convenience of a single platform to carry out their accounting, payments and financial management processes."
Using API-enabled technology – delivered through Scotia TranXact™ – Scotiabank will deliver financial data to Xero's accounting platform, simplifying the accounting process for business owners. Together with Xero, Scotiabank will provide business clients:
• Simplified financial management to reduce manual data entry and application switching;
• Cash flow insights to support informed business decisions;
• Enhanced efficiency through reconciliation automation capabilities.
"Integration with Scotiabank will offer new value for Xero customers in Canada, providing small business owners access to insights that will enable them to make fast and informed business decisions," said Chris O'Neill, Chief Growth Officer, Xero. "We're incredibly excited about this partnership with Scotiabank as we collectively strive to improve the lives of people in small business and their advisors."
Working together, Scotiabank and Xero provide business clients greater visibility and control of their financial information, while enabling business owners to spend more time running their businesses.
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