AccountsIQ has partnered with Plaid Financial, a world-leading open banking platform, to streamline bank account connectivity. This partnership provides more security and control over financial data and customers can enjoy the speed and convenience of automated bank reconciliations combined with the reassurance of Plaid’s secure, encrypted connections.
AccountsIQ’s open banking integration using Plaid provides a seamless connection, facilitating access to banks in the UK, Ireland and overseas for bank feeds, and providing API integration for payments and receipts. Users are presented with a simple workflow to enable them to set up and manage the connections to their banks, and to sync with their banks periodically for new transactions that will be imported into the system for reconciliation purposes. This secure integration is operated under a European Directive called PSD2 [Payment Service Directive 2] to ensure API access to statement data.
Plaid is a data network that powers the fintech tools millions of people rely on to live a healthier financial life. Plaid works with thousands of fintech companies, several of the Fortune 500, and many of the largest banks to make it easy for people to connect their financial accounts to the apps and services they want to use. Plaid’s network covers 12,000 financial institutions across the US, Canada, UK and Europe.
Learn more about automated payment and bank reconciliation within AccountsIQ.
If you are interested in an integrated solution, get in touch.
View our other ERP software integration partners.