Xero Archives - Financial Data and Technology Association (FDATA)

Xero is a cloud-based accounting software platform for small businesses with more than 3 million subscribers globally. Through Xero, small businesses and their advisors have access to real-time financial data at anytime, anywhere, and on any device.

Founded in 2006, Xero is a global business, domiciled in New Zealand and listed on the Australian Securities Exchange (ASX: XRO). Our team of more than 3,600 employees is driven by our purpose to make life better for people in small businesses, their advisors, and communities around the world.

The relationships we have with our partners in the accounting and bookkeeping communities are part of what makes Xero unique. Xero’s platform allows accountants and bookkeepers to collaborate with their small business clients on a single, up-to-date general ledger and manage their finances, including invoicing, payroll, tax compliance, cash flow, and much more.

Xero has built a thriving ecosystem of over 1,000 connected apps and more than 300 connections to banks and financial service providers. With apps that support everything from inventory and logistics to point of sale and project management, the Xero App Marketplace empowers small businesses to build their own toolkit to run all aspects of their business and have them all work together seamlessly.

We are dedicated to building a socially conscious and environmentally sustainable business, benefitting the millions of customers we serve, their advisors, communities and the shareholders and employees of Xero. We are committed to reducing our impact on the environment. During the year ended 31 March 2021 (FY21), Xero was certified carbon neutral by the Australian Government’s Climate Active program.

Our commitment to gender diversity and inclusion was recognized with Xero’s inclusion in the 2022 Bloomberg Gender-Equality Index, which is the third consecutive year the company has been included.

FDATA North America Welcomes Two New Members

Contact: Kerrie Rushton, (202) 365-6338, [email protected]

July 28, 2020, Washington, DC – The Financial Data and Technology Association (FDATA) of North America today announced it has added two new members, boosting the organization’s roster of member companies and organizations united behind the notion that consumers and small businesses should have full utility over their own financial data.

“Innovation in financial services is powered by consumers and small businesses granting permission for access and use of their data, often in conjunction with cutting edge machine learning and other data analytics technologies that enable better financial access and inclusion,” said FDATA North America Executive Director Steve Boms. “As consumers and businesses continue to face a deteriorating economic landscape because of COVID-19, it is critical to maintain competition in the market for these data-driven financial services. Equitable Bank and Xero are committed to that mission, and we’re excited to welcome them to our growing list of advocates supporting an open finance system in the United States and Canada.”

The following organizations recently joined FDATA North America:

Equitable (EQ) Bank has grown to become Canada’s ninth largest independent Schedule I bank through its proven branchless approach and customer service focus in providing residential lending, commercial lending, and savings solutions. EQ Bank, the digital banking platform offered by Equitable Bank, provides state-of-the-art digital banking services.
Xero is the emerging global leader of online accounting software that connects small businesses to their advisors and other services. Xero provides business owners with real-time visibility of their financial position and performance in a way that’s simple, smart and secure. For accountants, Xero forges a trusted relationship with clients through online collaboration.

These firms discussed the importance of FDATA North’s mission to advance data access and open banking in North America:

Equitable Bank’s Chief Information Officer Dan Dickinson: “In joining FDATA, we’re furthering our commitment to the industry, our customers and consumers more broadly to make banking better for everyone. We have a long-standing focus on the need for robust open banking practices in Canada and this partnership is another way we’re gaining insights and helping to move the needle on greater access to financial data for all.”
Xero Partnerships Manager Jon Bellamy: “Xero is committed to improving the environment for small businesses. Open Banking is a critical aspect of that, aiding their digital transformation. By joining FDATA we will be able to plan for important regulation and have a stronger industry voice as we represent the interests of our customers.”

Existing FDATA North America members include: air (Alliance for Innovative Regulation), API Metrics, Betterment, Direct ID, Envestnet Yodlee, Equifax, Experian, Fintech Growth Syndicate (FGS), Fiserv, Flinks, Interac, Intuit, Kabbage, Mogo, Morningstsar, M Science, MX, Petal, Plaid, Questrade, Quicken Loans, TransUnion, Trustly, VoPay, Wealthica and others.

ABOUT FDATA NORTH AMERICA
FDATA was heavily involved in the UK Open Banking Working Group in 2015. In 2016, the working group’s output was published by Her Majesty’s Treasury as the Open Banking Standard. FDATA North America was founded in early 2018. Its members collectively provide tens of millions of consumers in Canada, the United States and Mexico with aggregation-based tools to better manage their finances.