Last week Xero announced that it had entered into a data sharing agreement with Wells Fargo, one of the top US banks. Xero users will now be able to get bank feeds directly from Wells Fargo into Xero without having to manually export and import files. Xero is the first major technology company to partner with Wells Fargo to help their common customers share data between their two platforms.
Xero recently surpassed more than 700,000 subscribers around the world and North America is their fastest growing market with more than 62,000 subscribers. In the UK, with the addition of Barclays earlier this year, Xero now has five of the top six banks already running direct feeds to Xero giving them coverage for over 90% of UK’s small businesses.
We’ve noticed an increase in the number of enquires about FileMaker and Xero integration from North America over the past 12 months, particularly from customers looking for an alternative to QuickBooks. We can expect more major US banking integrations in the coming months, similar to what we have seen in Australia, New Zealand and the UK.
If you’re looking for a “do it yourself” option for FileMaker Xero integration check out fmAccounting Link (Xero Edition) – it includes examples for authenticating, uploading and downloading Contacts, Invoices, Payments and more. It’s 100% unlocked allowing you to integrate the functionality into your existing FileMaker solution, helping your company save time and money by removing the double data entry between FileMaker and Xero.
This article in Inc. magazine has an interesting perspective on what the Wells Fargo Xero agreement will mean for small business customers in the US.