Research reveals accountants' expectations from the Open Banking initiative
A study by award-winning cloud accounting provider, FreeAgent, has revealed the top three outcomes that accountants are expecting from the Open Banking initiative.
During a recent webinar on Open Banking hosted by FreeAgent and ACCA, over 100 accountants were asked the question: “what benefits do you expect from the Open Banking initiative?”.
The most popular answers were:
- more accurate bank feeds
- ability to offer better insights to clients
- opening up future opportunities with regards to payment initiation
Over 55% responded to say that they are expecting “more accurate bank feeds” from Open Banking. This is something that is starting to take shape within the accounting software industry and FreeAgent is the first accounting software provider in the UK to offer Open Banking bank feeds to their users.
You can read more about FreeAgent’s new Open Banking bank feeds here.
Find out more about how FreeAgent can help you work with your small business clients, here.