Open Finance: More accounting tools join bLink
With bexio, one of the leading Swiss providers of business software is joining the open finance platform bLink. SwissSalary, Counteo and Limmobi are also new to the platform. SMEs can use the standardized "Account & Payments Services" API on bLink to automatically integrate account and transaction data from their house bank into their accounting tool.
Software solutions such as bexio have set themselves the goal of simplifying the everyday office life of SMEs. But access to relevant data from their customers is not always easy to manage. A new interface now solves this central problem: With the connection to bLink, SMEs can now easily connect their digital accounting with their house bank and automatically integrate corresponding account and transaction data. Approval for data exchange by the SME is given in just a few minutes via the house bank's e-banking and can be revoked at any time. bLink, operated by SIX, is an open-finance solution developed for the Swiss financial center. Financial institutions and third-party providers can link easily and securely via this central platform.
Total expense reduced
Because bank transactions make up a significant part of the accounting, this decisively reduces the overall effort for SME administration. In addition, accounting is constantly kept up to date. This also creates opportunities for new features for software providers. Matthias Paulus, Product Owner of bexio, is pleased: "The connection to bLink allows us to standardize and further stabilize the data exchange with banks. This will allow us to focus on our core competencies, the processing of this data, in the future and provide our customers with even greater automation in payment transactions."
In addition to bexio, new additions to the platform include the payroll tool SwissSalary, the all-in-one collaboration platform for fiduciaries Counteo, and Limmobi, a tool that enables efficient real estate management for both private and professional administrators.
Open Finance: A Win-Win-Win Situation
The customers of the business software are always also customers of a bank. The added value of direct data integration for SMEs is therefore also transferred to the brand of the bank offering the interface. Through the service, banks thus reinforce the value proposition to their SME customers. Furthermore, cooperation with software providers also offers banks the potential for additional offerings, e.g. in the area of expense management in combination with card data. The interface thus generates added value for all participants involved in the data exchange.
Source and further information: SIX
