The rise of Open Banking has brought about a wave of innovative apps that are changing the way businesses manage their finances. With Open Banking, businesses can easily connect their bank accounts to these apps and gain access to a wide range of financial services, from budgeting and forecasting to payments and lending. In this blog, we’ll take a look at the top 5 Open Banking apps for businesses, and how they can help companies streamline their finances and grow their business.

Xero

Xero is a cloud-based accounting software that integrates with a range of banks through Open Banking. The app offers features such as invoice creation, expense tracking, and cash flow management, all in one place. Xero’s dashboard provides a clear overview of a business’s finances and helps to streamline the accounting process. Xero’s Open Banking integration allows users to connect their bank accounts and automatically import transactions, saving time and reducing the risk of errors.

Telleroo

Telleroo is a cloud-based payments automation platform that utilizes Open Banking technology to facilitate bank-to-bank payments. Telleroo uses Open Banking APIs to integrate with multiple banks, providing users with real-time visibility and control over their cash flow. This allows businesses to automate their payment processes, reduce the risk of fraud, and improve their financial management. By utilizing Open Banking, Telleroo is able to offer a secure and efficient way for businesses to manage their finances.

Soldo

Soldo is a prepaid card and expense management app that helps businesses to control their spending. The app’s Open Banking integration allows users to connect their bank accounts and track their expenses in real time. Soldo also offers features such as automatic receipt capture and expense reporting, making it easier for businesses to manage their expenses and stay on top of their finances.

Capitalise

Capitalise is a funding platform for small businesses that helps businesses compare options and access finance. It uses Open Banking APIs to connect to the business’s bank accounts. This streamlines and simplifies the whole lending process meaning businesses can access cash faster.

Crezco

Crezco is a cardless payment solution that enables businesses to make and receive payments using Open Banking. We particularly love that there are no transaction fees for collecting payments using Crezco.

Open Banking is changing the way businesses manage their finances, and these apps are just the beginning. As more businesses begin to adopt Open Banking, we can expect to see a wave of innovative new apps that help businesses streamline their finances and grow their business.

With the right app, businesses can save time, reduce the risk of errors, and gain greater visibility and control over their finances. So, whether you’re a small business owner or a large corporation, consider exploring these Open Banking apps to take your financial management to the next level.