01 Feb 2017
Sasfin Bank has partnered with leading cloud accounting software provider, Xero, to offer South African small businesses next generation financial management through South Africa’s first direct bank feed.
Sasfin Bank customers using Xero will be able to automatically import and categorise their bank statements, saving businesses valuable time by eliminating the need to make manual uploads and downloads and giving them greater visibility of their cash flow position.
The collaboration will streamline and simplify small business’ accounting and banking processes, bringing together all their business and financial data into one place within the Xero app. Xero users can reconcile their accounts with one click, create smart reports and professional invoices, and access and manage their data in real-time, as well as on the go.
Michael Sassoon, Executive Director at Sasfin says: “Sasfin Bank is proud to be the first South African bank to offer direct feed integration into Xero. Our innovative banking platform is significantly enhanced by the Xero functionality. It offers businesses the ability to transact in real time, manage their cashflows effectively and earn interest on account balances. Ultimately, this integration will allow SMEs access to technology that will enhance their business growth.”
Gary Turner, managing director for Xero’s operations across EMEA comments “A vibrant and successful small businesses community will be key to South Africa’s economic recovery but many struggle to manage their cash flow effectively. This partnership with Sasfin Bank will help thousands small businesses take control of their finances and provide them with the means to not just survive, but also prosper.”
About Sasfin Bank
Sasfin Bank offers a wide range of products including transactional accounts, Investment Accounts, Trade and Debtor Finance, Equipment financing and more. More than that, however, Sasfin is ‘beyond a bank’ as we challenge ourselves to create products and solutions that suit our clients’ needs and go beyond the traditional expectations of a financial services group.
Xero is beautiful, easy-to-use online accounting software for small businesses and their advisors. The company has over 800,000 subscribers in more than 180 countries. Xero seamlessly integrates with over 500 apps, and was ranked No. 1 by Forbes as the World's Most Innovative Growth Company in 2014 and 2015.
Issued on: 1 February, 2017
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Sasfin Holdings Limited (“Sasfin” or “the Group” or “the Company”) is a bank-controlling company listed in the “Financials: Investment Services” sector of the JSE Limited (“the JSE”). Sasfin and its subsidiaries provide a wide range of complementary banking, financial and related services.