Revolut Business has added Clear Books accounting software integration. New subscribers to the service will receive a discount off of the software. Revolut states that the integration is part of its Open Banking framework with the functionality embed into the application.
Revolut says the booming B2B automation sector is why they are integrating the new accounting application. Data from Revolut Business indicates that 25% of all B2B payments are now initiated from an API – up from 5% two years ago.
Revolut Business used a “draft payments solution” to enable Clear Books to embed payments creation functionality directly into its accounting and payroll software without having to be a registered payment initiator.
Revolut said it expects this trend for financial services embedded in third-party products to continue and has built a Marketplace to house these apps.
James Gibson, Head of Product at Revolut Business stated:
“We’re focused on building innovative products that help businesses save precious time and money. Our partnership with Clear Books does just this – allowing customers to set up draft payments directly from Clear Books in a couple of taps. Going forward we see a huge opportunity for the automation of basic tasks by using the power of APIs.”