How Open Banking supports accountants, auditors and portfolio managers
Open Banking allows professionals managing multiple clients to access financial data directly and securely, eliminating manual exchanges and ensuring accurate, up-to-date information.
Professionals such as accountants, auditors, and portfolio managers depend on reliable financial data to perform their work effectively. Whether preparing financial reports, analysing performance, or conducting audits, access to accurate banking information is essential.
However, obtaining this information is often more complicated than it should be.
In many cases, professionals rely on their clients to provide bank statements, transaction exports, or financial reports. This back-and-forth exchange can slow down workflows, introduce delays, and sometimes result in incomplete or outdated information.
Open Banking offers a more direct and efficient solution.
Secure data sharing with client authorisation
Through Open Banking, clients can securely grant access to their banking data. With proper authorisation, professionals can connect to their clients’ accounts and access financial information directly through integrated platforms.
Transactions, balances, and account activity can be automatically updated, removing the need for repeated document requests or manual uploads.
At the same time, clients remain fully in control of their data. Access is granted through secure consent mechanisms, ensuring transparency and compliance with data protection standards.
Faster workflows and better insights
For accountants, this direct access allows bookkeeping processes to become faster and more accurate. Auditors benefit from reliable data sources when reviewing financial records. Portfolio managers can monitor client liquidity and financial activity without waiting for manual updates.
By reducing administrative exchanges and improving data accuracy, Open Banking makes collaboration between professionals and their clients significantly more efficient.