Bankstream Scanfeed captures Lloyds and Barclays data

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John Stokdyk
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Bankstream, the bank data feed specialist, has added Lloyds and Barclays to the list of UK banks from which it can pick up electronic transaction data via a new Scanfeed service.

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...

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12th Jun 2014 17:48

Already done

AutoRec, a software product by OCRex has been doing this for years with over 800 accountancy practices across the UK and Ireland already using it. AutoRec supports over 200 different bank statement formats from nearly 50 banks across the UK & Ireland rather than just two. One of the other significant differences is that with AutoRec, it is a desktop solution, so the accountant does not have to upload his/her clients' sensitive bank statement data up into the cloud at all. That said, OCRex are also to release a cloud version next month for the purposes of providing direct API integration with online book keeping products like Xero, Kashflow, etc. 



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12th Jun 2014 17:50


You might also find a pleasant price difference from OCREX

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