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Bankstream partners with Twinfield UK to deliver secure data

20th Oct 2013
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Bankstream has partnered with Twinfield, Wolters Kluwer’s online accounting business, to enable accountants to automatically receive accurate client transaction data securely with Twinfield.

Bankstream will provide accounting practices with daily automatic downloads of data which accountants can then use in Twinfield’s bookkeeping software. Bankstream’s accurate flow of data will remove the need to chase clients for bank statements and relieve the accounting burden on small businesses, as they no longer have to collate data for their accountants. Twinfield’s online accounting software then has a range of solutions to provide flexible accounting for both small and large organisations.

Crucially, this partnership enables accountants to work more closely and regularly with their clients, ensuring data is relevant, whilst helping to streamline business processes.

Frank Woods, Head of Europe, Bankstream commented, “we have a great relationship with Twinfield and are already seeing how the partnership is helping to improve the life of both accountants and small business owners. There are a number of accountants already using both systems and the feedback has been really good – users can see how much easier the process is.”

He continues, “we work very hard to build trust and encourage a direct relationship with the banks we work alongside and there are strict agreements in place with regards to the data. Unfortunately there are other systems out there which don’t offer users the same security and this has led to some uncertainty from accountants using such software. Users of both Bankstream and Twinfield can be assured that the data comes with a full seal of approval from the banks.”

Barbara Kroll, Managing Director, Twinfield UK said, “security is of upmost importance to us at Twinfield therefore we chose to partner with Bankstream as we understood their approach to collating data was the safest and securest on the market. We were already using automatic bank feeds at Twinfield in The Netherlands to enable accountants and clients to work in real time and with the most accurate and data and because of this, we decided to replicate this in the UK.

“We believe that in the near future, simple bookkeeping tasks will barely exist as systems and data become seamlessly connected and this is another step in the right direction.”

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