HSBC Collaborates with Xero, Sage and Intuit

 HSBC is expanding its existing bank feed services with the launch of a new online tool that enables small and medium sized companies to establish a data feed from their bank account to their accounting software.

This collaboration will enable business customers to connect their bank accounts to their choice of accounting package using a digital solution and establish a secure, reliable transaction data feed.

Nadya Hijazi, Global Head of Business Banking Digital at HSBC said: “Enabling small and medium sized business customers to establish and manage their transaction data flow will save them time and effort. The solution eliminates the need to manually import or enter transaction data instead it automatically synchronises every 24 hours.”

Customers will be able to manage their finances more efficiently and access up-to-date, user-friendly, customised data on their financial position with a few clicks, which will help them to make better informed decisions about their business.

“This digital solution provides customers with the financial information they want, when they want, and where they need it – rather than having to visit their online banking site to retrieve the information,” continued Nadya.

“This service is one of the first of a series of innovative digital solutions we are developing for SME customers and we’re excited to be addressing some of the challenges these customers face on a day-to-day basis.”

For UK based business and corporate customers, the online solution will be available on Xero and Sage in the next few weeks and will soon be available on Intuit’s QuickBooks. For Hong Kong based customers the tool will similarly be available on Xero in the coming weeks. The digital solution will be rolled-out to HSBC customers in additional countries and territories in 2018.