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Xero - Source: ONE News -
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Shares in online accounting software company Xero rose five cents to $1.65 on Wednesday after the company said it had reached an agreement with a US firm to give people greater access to their bank accounts.
Xero says it will use Yodlee's automated daily bank account feeds which will increase its customers' access to over 11,000 financial institutions and account stores across Australia, the UK and North America.
Xero currently has daily automated bank feeds with all major New Zealand banks, Australian banks NAB, ANZ and CBA, and HSBC in the UK.
Yodlee works in the online and mobile personal finance and payments solutions area and has more than 20 million consumers at bank and portal sites.
"Extending the availability for our customers to access their financial information at thousands of additional financial institutions further reinforces Xero's commitment to being the leading online accounting solution," Xero CEO Rod Drury said in a statement to the NZX.
The service will begin mid year.
