Thanks to a collaboration with Plaid, our smart software now features brand new open banking capabilities, offering instant and secure connections from a choice of 11,000+ financial institutions in the UK, EU, US and Canada – removing the need to manually download bank statements from a financial institution. Through the use of Plaid’s API, Aqilla can now provide our customers a hassle-free way to link their bank accounts directly to their accounting system – all within one simple, powerful platform!
To give you a sneak peek, we spoke to some of our customers who have already tested our new open banking features!
“Aqilla’s integration with Plaid and the resulting open banking functionality is fantastic news for us and for mid-sized businesses across the UK.”
When elaborating on their Cloud accounting journey, Sunday’s Finance Director, Chris Lee, describes how, “we’re always looking for ways to help our accounting and finance team become even more efficient — and delivering direct access to statements within Aqilla does just that”. For many of our customers, reducing the complexity of their accounting processes, and being more efficient, is at the forefront of the benefits that our smart software offers. For PGI’s COO Damon Waddington, Aqilla’s smart automation is, “saving us around three days of manual administration that we had to endure with Sage” – with new open banking capabilities, many more of our customers will be on track to reduce time spent on processes that can be automated, e.g. accessing and uploading bank statements.
Adding weight to this, Chris Lee describes how our new open banking features have allowed Sunday to spend more time on important business developments and less time on manually retrieving bank statements and documents. He confirms that, “cutting down the time they spend on administrative tasks frees our accounting and finance team to work more strategically”. With the launch of the Plaid plug-in, Chris Lee notes how linking Sunday’s bank accounts directly with Aqilla has streamlined their transaction matching and account reconciliation process, allowing them to spend more time on the bigger picture of their business, in order to, “contribute in an even more meaningful way to company growth and enhanced customer experience”.
From the outset, our customers have been at the heart of what we do here at Aqilla. Therefore, personal, tailored and friendly customer experiences are a key part of a Cloud-based software journey with us. That’s why we are launching the new Plaid plug-in at no additional cost to all of our Aqilla customers with accounts that offer open banking capabilities.
Furthermore, our designed-for-Cloud software makes benefitting from upgrades, innovations and the latest tech integrations, as seamless and effortless as possible. For example, our customers never need to update the software themselves, and thanks to the power of ‘true Cloud’, they’ll have instant access to the latest version of Aqilla, any time, any place, and on any device with a browser.
“Developing our integration with Plaid and enabling our customers to take advantage of open banking is part of Aqilla’s continued drive for innovation and modernisation.”
However, it doesn’t stop there! The entire Aqilla team is on a mission to bring our customers the best of what automation, technology and AI has to offer. Hugh Scantlebury, founder and CEO of Aqilla describes how, “giving customers secure, direct access to their statements within our application is the first step on our open banking development roadmap”. When discussing open banking and the future of finance and accounting technology, Hugh went on to reveal that the launch of our latest plug-in, “promises to bring even more integration, value, and functionality to our customers”.
In this article, we will be decoding some of the unknowns of open banking: how it works, if it is safe to use, and what it means for the future.
Read more of this blog post here.
Leveraging the latest open banking innovations, we have been working hard with open banking specialist, Plaid, to develop some enhanced functionality for our customers.
Discover the latest on the new update here.
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