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Saturday 10th August 2024 | No. 86
XU Biweekly
The independent user news source for accounting apps and their ecosystems
Silverfin announces partnership with MYOB to deliver cloud-first solution to ANZ accounting firms as the industry embraces AI and compliance automation
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EADING CLOUDFIRST ACCOUNTING AND COMPLIANCE SOLUTION SILVERFIN HAS TODAY ANNOUNCED A 10-YEAR EXCLUSIVE PARTNERSHIP WITH MYOB, A LEADING BUSINESS MANAGEMENT PLATFORM IN AUSTRALIA AND NEW ZEALAND. Now with presence in 15 countries, this strategic collaboration marks a significant step in Silverfin’s commitment to global expansion, bringing cloud-first,
AI-powered post accounting solutions to new markets. Silverfin will enhance MYOB’s cloud offering through the integration of its advanced financial reporting, work papers, and AI-driven advisory tools into MYOB’s platform where they will be tailored specifically to meet the compliance and regulatory needs of the Australian market. This partnership highlights Silverfin’s commitment to revolutionising accounting compliance globally,
enabling more markets to benefit from access to its cutting-edge, cloud-first technology. Silverfin CEO, Lisa MilesHeal, said: “Artificial Intelligence will transform client accounting compliance and advisory – from enhancing data accuracy, to providing forecasting analytics and actionable insights, automated file reviews and faster identification of errors and irregularities.
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Penfold Reaches £500m Assets under Administration, Doubling in 12 Months
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ENFOLD (GETPENFOLD.COM), THE INNOVATIVE DIGITAL PENSIONS PROVIDER, IS EXCITED TO ANNOUNCE IT REACHED £500M AUA, DOUBLING ASSETS FROM £250M IN THE LAST 12 MONTHS AND ACHIEVING GROWTH OF 260% FROM £139M AT THE START OF 2023. This robust growth trajectory has been driven by
the rapid expansion of its workplace pension offering, enabled by a proprietary technology platform that helps accountancy firms and payroll bureaus streamline their clients’ auto enrolment obligations. This innovation has led to many small and medium-sized businesses being introduced to Penfold by their accountancy firm, alongside larger clients that
engage directly with Penfold to modernise their benefits package. As a result, Penfold has more than doubled its customer base since the start of 2023, from33,000 to over 75,000, as the number of employers using Penfold for its workplace pension has increased from 300 to over 2,000.
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Airwallex partners with GoCardless to strengthen direct debit offering
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IRWALLEX, A LEADING GLOBAL PAYMENTS AND FINANCIAL PLATFORM FOR MODERN BUSINESSES, HAS SELECTED GOCARDLESS TO PROVIDE DIRECT DEBIT TO ITS CUSTOMERS ACROSS SEVERAL KEY MARKETS. Through GoCardless Embed, a white-label integration, Airwallex now connects to the GoCardless’ global bank payment network, helping Airwallex customers to expand into new verticals and use cases where direct debit is preferred. Airwallex has launched the service in the UK, with Europe expected to soon
follow. The announcement is the latest move from Airwallex as part of its commitment to supporting businesses of all sizes to achieve their global growth ambitions. Justin Leung, Financial Partnerships Manager at Airwallex, said: “Businesses of all sizes are looking at how they can adapt to evolving customer needs -- and payments are no exception. With direct debit continuing to be a trusted and popular way to pay, especially with the rise of the subscription economy, we felt it was the perfect time to strengthen our offering so that our customers
Saturday 10th August 2024
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can better serve theirs. By working with GoCardless we were able to quickly provide this option through one simple integration." Deepak Colluru, Director of Product Management for GoCardless Embed, said: “We’re excited to work with Airwallex to bring the best of direct debit to its customers. With fewer intermediaries, they are cheaper than cards and in many cases more reliable too, without expiry dates or lost payment details. “It’s a win-win for us to partner with Airwallex.”
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