Case Study: Open Banking achieves faster, more efficient payments and reconciliation with AccountsIQ

Open Banking Technology Ushers a New Era for Accounting

Open Banking was looking to modernize finance operations for growing, multi-entity businesses by making accounting processes more connected, automated, and real time. To do that, it needed a cloud-based finance platform that could support Open Banking and integrate with third-party payment providers.

AccountsIQ implemented its cloud financial management platform with Open Banking capabilities, including integration with TransferMate Global Payments for domestic and international payments. This enabled Open Banking to generate payments directly from AccountsIQ, benefit from faster settlement and automatic reconciliation, and access competitive FX rates, with one customer reporting savings of €2,500 on a single transaction.

Open Banking

Darren Cran

Chief Operating Officer