Barclays to link transaction data into Xero

BARCLAYS has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.

Jonathan Ashton, managing director and head of digital client access, said: “We are always happy to support our customers with automated integration to their own accounting systems. This integration of account-based reporting will help customers as they expand and develop their businesses.”

The collaboration provides a secure and simple solution for joint customers, presenting their financial statements from their bank into their Xero app. Barclays is the eighth bank to join Xero’s direct feeds technology.

Gary Turner, Xero’s UK co-founder and managing director, said: “Recent research found that businesses who manage their finances daily basis enjoy much greater prosperity and survivability. This new partnership between Xero and Barclays makes this a reality, which is good news for businesses and for the vital contribution small businesses make to the economy as a whole.”

Barclays customers can now import bank statements automatically, across everyday accounts, term deposit, savings and foreign currency accounts, making manual uploads and downloads redundant. This saves businesses valuable time.