Rutter is pleased to announce the latest expansion of our Bank Feeds product with a new integration for Xero. Xero joins our existing bank feed integrations for Intuit QuickBooks, NetSuite, Sage Intacct, and Sage Business Cloud, making it easier than ever for your customers to upload bank transactions directly into their accounting software of choice.
Why Bank Feeds Matter
Bank Feeds automate the synchronization of bank account and credit card transactions to accounting platforms, making it easier to match and reconcile transactions. Traditionally, reconciliation involved manual processes—accountants had to compare records to ensure that a company's cash balance matched its bank statements, which was time-consuming and prone to error.
Rutter’s Bank Feeds streamline this process by automatically syncing transactions with platforms like Xero, significantly reducing the time and effort needed to maintain accurate financial records. This is especially critical for small and medium-sized businesses (SMBs) that rely on efficiency to stay competitive. With Rutter’s Bank Feeds, businesses can eliminate manual data entry, reduce the risk of mistakes, and focus on scaling their operations.
Why Xero?
Xero is a global small business platform with over 3.95 million subscribers in 180 countries, making it one of the most widely adopted accounting solutions for SMBs worldwide. Given its popularity, especially among small businesses, we’re thrilled to offer Xero as the next integration for Rutter’s Bank Feeds. For many businesses, Xero is the core of their financial management, and this integration helps simplify their workflow even further.
The Challenge of Building Bank Feed Integrations
Integrating with major accounting platforms like Xero is not straightforward. For fintechs and banks that serve SMBs, there are two major challenges:
- Access to Bank Feed APIs: Platforms like Xero typically restrict API access to select partners. These partnerships require significant investment in time and resources, often putting them out of reach for smaller fintechs and banks.
- Technical Complexity: Building reliable, secure bank feed integrations involves understanding each platform’s API structure and handling the technical nuances. It requires substantial developer resources, along with the expertise to navigate varying requirements across platforms.
Rutter’s Solution: Xero Bank Feeds Integration
We’ve developed our Xero Bank Feeds integration to simplify these challenges for you. With Rutter’s Bank Feeds API, fintechs and banks can easily upload their customers' banking data into the accounting platforms they rely on, like Xero. This integration complements our existing suite of bank feeds for Intuit QuickBooks, NetSuite, Sage Intacct, and Sage Business Cloud.
Key benefits include:
- Automatic synchronization of transactions, ensuring accurate and up-to-date financial records.
- Seamless integration that supports faster and more reliable reconciliation, improving the efficiency of financial operations.
- Enhanced user experience that saves time and boosts productivity for both your business and your customers.
The Competitive Advantage of Offering Bank Feeds
For fintech companies, offering integrated bank feeds can significantly enhance the value of your product, especially to SMBs looking for more streamlined financial processes. By providing automated syncing of transactions, you can reduce friction, increase user satisfaction, and set your product apart from competitors.
For Xero users, the Rutter Bank Feeds integration offers a solution that simplifies the process of syncing bank transactions with accounting systems. By leveraging Rutter’s API, your company can deliver the functionality your customers need—saving them time and improving their financial accuracy.
Getting Started with Rutter’s Bank Feeds API
Contact our sales team to get started.
