Scanfeed is an intermediate step that lets accountants upload clients’ scanned bank statements to a secure online portal, where they are digitised and validated. This information can then be fed back to the accountant via Bankstream’s Livefeed service.
With RBS/NatWest and HSBC already hooked up to Livefeed, Bankstream UK and Ireland general manager Frank Woods said the company is now able to help accountants import data from client accounts at all four major UK banks.
“The addition of Scanfeed allows us to provide accountants with a wider range of client transaction data, while avoiding the security issues associated with getting data via internet banking,” said Woods.
Once it has been captured, Bankstream’s software automatically codes recurring transactions and feeds the information the into other accounting systems...