FinTech unicorn Airwallex has integrated its solutions with Xero, the accountancy platform, to help Airwallex’s small-business customers improve their financials.
It would do that by seamlessly reconcile their domestic and international payments, saving time and ensuring accuracy. This integration is part of the company’s ongoing commitment to enable SMBs’ growth in an increasingly borderless world.
The partnership will see enable SMEs to connect their multi-currency financial transactions in Airwallex to Xero. This will allow Airwallex customers to view a daily update of their transactions through their Xero bank feeds, simplifying and speeding up the reconciliation process to free SMBs from labour-intensive manual processes so they can instead focus on driving business growth.
“Small businesses do not have the time or resources to manage multiple technology solutions that often operate in silos – they need solutions to work and integrate with each other seamlessly,†said Jack Zhang, CEO and Co-founder, Airwallex. “This is even more imperative when it concerns their multi-currency financial reporting as there is no room for errors.â€
“An integration with Xero is one of the most requested integrations from our customers. We have been listening and are delighted to be able to offer this to our Australian customers from today, with a wider international rollout planned across 2020. This is the start of a series of capabilities that we plan to introduce with Xero to improve the way small businesses manage their finances across platforms.â€
Ian Boyd, financial industry director at Xero, added, “As more small businesses enter overseas markets, it’s important that their multi-currency payments flow seamlessly in Xero and are automatically reconciled. This integration with Airwallex will ensure our mutual customers spend less time on administrative tasks and more on what’s important to them – running their business.â€
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