Intuit Australia has engaged SISS Knowledge Companies as an outsourced service supplier to facilitate Open Banking information feeds for Intuit’s QuickBooks clients throughout Australia.
As Intuit’s expertise accomplice, SISS has enabled the vital integration that connects Intuit QuickBooks’ clients with their banking information by way of Australia’s Shopper Knowledge Proper (CDR) framework.
Open Banking information feeds at the moment are being rolled out progressively for QuickBooks clients, with Commonwealth Financial institution of Australia and Nationwide Australia Financial institution connections already reside, and over 100 different monetary establishments to comply with.
Intuit is looking for CDR information assortment and sharing consents from its Australian QuickBooks clients as an integral a part of the brand new buyer sign-up course of for the Intuit QuickBooks On-line accounting platform in Australia.
Current QuickBooks clients also can swap their current financial institution feeds to the vastly superior Open Banking financial institution feeds.
“SISS is delighted to help Intuit’s Open Banking information feeds as their chosen outsourced service supplier,” stated Grant Augustin (pictured proper), Founder and CEO at SISS Knowledge Companies.
“The advantages of Open Banking for small enterprise homeowners and their trusted advisors embody real-time information sync, time effectivity, simplified money circulate, higher consumer insights and enhanced safety requirements,” Augustin added.
Intuit and SISS have a powerful current enterprise relationship spanning 10 years in Australia. As an Accredited Knowledge Recipient, SISS allows Intuit to entry over 100 Open Banking APIs on behalf of Intuit’s QuickBooks clients.
“As a long-standing expertise accomplice working with Intuit to energy ‘accounting-grade’ information, we’re constructing on 10 years of expertise and the sturdy basis of regulatory compliance and technical excellence that each events have,” Augustin stated.
Lara Thompson (pictured left), Head of Partnerships APAC at Intuit, stated, “As the primary monetary administration software program supplier to realize Accredited Knowledge Recipient standing, Intuit is proud to roll out Australia’s most superior financial institution feed answer with the assistance of SISS as our expertise supplier.”
Thompson famous this vital milestone is empowering companies, their accountants and different trusted advisors resembling finance brokers, to minimise guide duties, acquire quick insights, and ship recommendation whereas retaining full management over information validation.
It additionally opens the door to AI-powered options.
“By leveraging the ability of Open Banking’s correct, real-time consumer monetary information, Intuit is creating the important information basis for Intuit’s AI-driven knowledgeable platform to remodel the way in which companies, accountants and brokers function,” Thompson stated.
The true advantages of the transfer to Open Banking are felt by Intuit’s QuickBooks clients, like Brooke Alexander of Cookie Doughboy, a household enterprise based through the pandemic.
Based on Alexander, “I can lastly spend much less time observing spreadsheets and extra time baking! With the Open Banking integration, my financial institution feeds routinely and precisely circulate into QuickBooks… it’s about making operating Cookie Doughboy extra environment friendly and giving us the real-time monetary insights we have to plan for progress.”
Small enterprise accounting providers is a high-value use case recognized as a precedence forward of CDR’s growth in 2026 to incorporate the non-bank lending sector along with the banking and power industries.