Accounting software provider Clear Books has registered with the Financial Conduct Authority (FCA) to provide Open Banking feeds free with any subscription. The registration means that Clear Books users can connect as many Open Banking feeds to their accounting software as they wish, securely, and at no additional cost.
12,000 small businesses currently use Clear Books software. Their CEO Ruth Fouracre explains, “Open Banking seeks to ensure transactional information is passed securely between the banks and the financial software that businesses use everyday. By registering with the FCA, Clear Books will be able to continue providing vital bank transaction information automatically and free of charge to our users’ accounts.”
Open Banking feeds are required from 14 September 2019, replacing old screen scraping technologies with more secure data feeds between banks and information processors. Financial organisations that fail to meet FCA registration requirements will lose their ability to provide bank feeds to clients.
Accountants who wish to try Clear Books are invited to book a free demonstration of the software by visiting www.clearbooks.co.uk/accountants/. Clear Books costs £6/mo for accountant access-only and £22/mo for both accountants and small businesses access.