Xero bank feed changes…

Bookkeeping, News, Xero,

After the recent changes to HSBC Bank feeds and Yodlee Bank feeds, there is now more news on the subject!

Xero has previously used OpenWrks as the service provider to access Open Banking and provide bank feeds. OpenWrks was recently acquired by a Swedish company, called Tink, and any Open Banking connections will in future need to connect via Tink to get bank feeds.

Tink is a regulated service provider that provides an Open Banking platform for Xero to securely connect to UK banks.

As you re-authenticate a bank connection any time after August 30th, it will automatically connect via Tink.

What does this mean for you?

Xero have said that there will be no disruption to your existing connections when this automatically updates. The only change you will see will be the Openwrks logo being replaced with the Tink logo. Everything will continue to update with the same security measures in place.

You can find out more about Open Banking feeds on Xero’s Guide to Open Banking here. Alternatively, if you’d like to know more or have any specific questions regarding bank feeds, please get in touch!

 

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