Xero, a global small business platform, has announced a partnership with Plaid, which seeks to eventually triple the number of high-quality bank feeds available to customers in the United States.
For many small businesses, access to community-focused finance providers is crucial, given the vast number of banks and credit unions.
This partnership aims to improve these business owners’ access to reliable bank connections, giving them “a clearer, real-time view of their finances which, in turn, will empower them to make more informed decisions, supporting their growth, their employees, and the communities they serve.”
This partnership is said to provide Xero’s customers with access to over a thousand secure, direct connections through Plaid’s network of US financial institutions.
Starting this year, Plaid is expected to power an increasing portion of Xero’s US bank feed sources, “offering customers more dependable connections to their data.
Xero says it is continuing to invest in more reliable direct (OAuth) bank feeds, offering a significant improvement by using secure tokens for connections built directly with bank systems.
Xero will proactively migrate customers to direct bank feeds available through Plaid, ensuring a more stable flow of financial data.
The new Plaid bank feed options for US customers are expected to become available from late 2025.
Xero is a global small business platform that “helps customers with small business tools, including accounting, payroll and payments.”
