Saturday 22nd April 2023 | No. 53
XU Biweekly
The independent user news source for accounting apps and their ecosystems
ACSISS SOLVES A BIG PROBLEM FOR ACCOUNTANTS & BOOKKEEPERS WITH OPEN BANKING
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CCOUNTANTS AND OTHER ADVISERS FACE BIG CHALLENGES GETTING SECURE, RELIABLE ACCESS TO THEIR CUSTOMERS’ BANK TRANSACTION DATA WHICH THEY NEED TO DO THE BOOKS.
ACSISS Adviser is a new service available only to “Trusted Advisers” that enables them to securely receive transaction data that their customers have collected via the Consumer Data Right (CDR) or “Open Banking” system. ACSISS Adviser overcomes the problems associated with traditional methods such as “screen-scraping” which requires customers to share online banking credentials or “direct feeds” which are available for only a limited range of banks / accounts. Australia’s leading independent provider of secure bank data services, SISS Data Services, has today launched ACSISS Adviser to allow accountants, bookkeepers and other trusted advisers to securely receive financial transaction data from their clients. “Bank transaction records are vital to the accounting process” says Grant Augustin,
co-founder and CEO of SISS. “From my experience in practice, I know only too well how frustrating it can be when you have to stop work and chase up a client for transaction records”. Accountants often rely on bank data feeds within their online accounting systems, however these suffer from limited range of banks and account types, or reliability issues for those that rely on screen-scraping. “In these days of heightened awareness about data security, more accountants and their clients are refusing to share online banking credentials, meaning that the traditional ‘screen-scraping’ method doesn’t work reliably” continued Augustin, “it was clear to me that accountants and their clients need a better way – and the new Open Banking technology delivers not only better security, but greater reliability and a broader range of banks and account types”. Open Banking, the widely used term for the first phase of the Commonwealth government’s Consumer Data Right initiative seeks to empower consumers to make better financial decisions by securely sharing their financial information, such as bank
transactions, with nominated third parties. About a year ago, the regulations were amended to enable consumers to share their data with “Trusted Advisers” including accountants, bookkeepers, auditors, lawyers and mortgage brokers through Accredited Data Recipients, such as SISS and their ACSISS solution. Consumers will use a simple app “ACSISS My Data” to control what data they share and with whom. Clients can look-up their accountant on the list of trusted advisers, select the accounts they wish to share, and their accountant will then receive copies of their transaction records (ie bank statements) going back as far 2017. Accountants will then use that transaction data in a variety of ways, depending on the tasks they’re performing for the client, and the systems they use. “ACSISS Adviser immediately solves a large and growing problem for accountants and their clients” says Augustin “we’ve harnessed the latest technology to enable consumers to securely share their data, to...
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Planday announces Dave Lee as new CEO C
OPENHAGEN / WELLINGTON – 20 APRIL 2023 – XERO, THE GLOBAL SMALL BUSINESS PLATFORM, TODAY ANNOUNCES DAVE LEE HAS BEEN APPOINTED AS PLANDAY’S NEW CEO, EFFECTIVE 1 MAY 2023, FOLLOWING A RECRUITMENT SEARCH. Lee joins Planday from Nordic-focused fintech platform Lunar, where he was Chief Product Officer responsible for building and leading Product and Experience Design for the company’s more than 500,000 users. Prior to Lunar, Lee was SVP Product Devel-
Saturday 22nd April 2023 ISSN 2054-7234
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opment & Customer Experience at IKEA in London and Sweden, and Product Director at Spotify in Sweden. Tasked with leading Planday’s business globally, Lee will be responsible for driving Planday’s go to market strategy and ongoing development of Planday’s scheduling and workforce management solutions that support more than 400,000 users around the world. Xero Chief Growth Officer, Chris O’Neill said: “Dave is a proven product and digital leader with more than 20 years’ experience in building and overseeing successful product and innovation teams in rapid-growth
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startups and global organisations across a wide variety of sectors in Europe and the US. We look forward to working closely with Dave to make workforce management easier for more customers and their employees through Planday’s leading scheduling, time and attendance software.” Dave Lee said: “I am very excited to join the incredible team at Planday and build on the successes they have already achieved in realising their workforce management vision by helping more businesses and their employees thrive together.”
Airwallex launches global payments in Canada, further building on expansion in Americas
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IRWALLEX TODAY ANNOUNCED THE LAUNCH OF ITS GLOBAL PAYMENTS SERVICES IN CANADA. THE LAUNCH WILL EMPOWER CANADIAN BUSINESSES TO TAP INTO AIRWALLEX’S GLOBAL PAYMENTS AND FINANCIAL PLATFORM, OFFERING A FASTER, MORE COST-EFFECTIVE AND TRANSPARENT ALTERNATIVE TO THE TRADITIONAL BANKING PLATFORM. Businesses in Canada can now access Airwallex’s key offerings, including local currency accounts in over 12 currencies, a multi currency wallet in 44 currencies and payouts to 150 countries with its proprietary local payment network. The full suite of Airwallex’s global products, including multi-currency cards, spend management and online payments will be progressively rolled out in the market. “To thrive in today’s challenging global economy, businesses must be able to scale without borders, move money across currencies with ease and manage their finances across markets with a single integrated platform,” said Ravi Adusumilli, General Manager of Americas. “Airwallex is excited to support the ambitious Canadian businesses who wish to grow internationally, quickly and economically, as well as international businesses who have operations in Canada.” Airwallex already supports a number of Canadian businesses across eCommerce, professional services and technology sectors. These customers leverage the centralized Airwallex platform to simplify payments, from collections to payouts, streamline multi-currency management and optimize cost savings. “With the launch of global payments services in Canada, Airwallex will be...
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