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Yolt Technology Services Supports Accounting Software Providers in the UK
Yolt Technology Services (YTS), the leading open banking provider in Europe, is now providing open banking technology to accounting software providers in the UK.
Accountancy firms, through YTS PSD2-compliant APIs, will be able to pull customer data in a secure and compliant way, and in real time, reducing manual workloads.This includes collecting bank details and invoices, quarterly VAT declarations, annual reports, income tax declaration. For accountants, this is an exciting opportunity to use the technology made possible by open banking, in combination with their own expertise, to offer clients a better experience, whilst saving time and reducing costs. For accounting software providers it guarantees a complete transaction record that is always up to date, less time spent correcting records, the secure transfer of transaction data and it also removes the need to repeatedly download and re-upload files.
YTS recently signed up Jortt, a Netherlands-based software company that automates bookkeeping for small businesses, as a client. Using open banking, Jortt has automated 88% of its processes, and as a result grew 50% last year.
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