Bank feeds are coming to Saasu but not just yet. We strategically delayed late last November after learning that Yodlee, a bank feed provider, was starting to add banks that we needed connections to. This could save us a lot of time and money, something which translates into a lower cost Saasu online accounting service for our customers.
Yodlee is an interesting company who specialises in supplying bank data feeds (permissioned read-only) to companies like Saasu. In short our customers will be able to give us approval to feed their bank data into Saasu.
Yodlee support over 9,000 banks and credit card companies. If Saasu attempted to connect to the volume of banks that we need to directly using our own resources then the price we would have to sell subscriptions at would be higher. We are realistic about what small and micro business want to pay for their accounting service so if this feature can be enabled cheaply then we will provide it.
Recently Yodlee had ANZ bank connected so it’s only a matter of time before other non US banks fall under Yodlee’s wing. Saasu will start providing bank feeds as soon as the service can be offered at the right price for small and micro businesses. In the mean time it takes about 3 minutes to transfer a CSV file from your bank and load it into Saasu. It’s very simple once you have have had a go at it once.
Thank you Saasu. Being a global platform, this will help support various banks and make the process more efficient.
Comment by Ravi Bhatia — March 28, 2009 @ 7:29 pm
So can you start offering USA bank feeds now? We would really like HSBC in the USA to be directly connected.
Comment by Jason Seed — March 30, 2009 @ 11:45 pm
@Jason that’s the plan. will take a couple of months to make it happen though.
Comment by admin — April 7, 2009 @ 6:45 am
Hi Guys,
Just want to get an update on this and when we will be able to get automatic bank feeds?
Cheers
Mark.
Comment by Mark — August 28, 2009 @ 4:06 am
Hi Mark. We don’t give out release dates sorry. We are wanting to get it out next quarter. There is a lot in our pipeline and it isn’t at the top of votes but that said we are keen to get it done crossed off.
Comment by Marc — September 2, 2009 @ 11:33 pm
Bank feeds is one of the key differentiators between Saasu and another online accounting company starting with ‘X’. This is a killer app that really takes the pain out of managing a business – hope to see it (for CBA & ANZ) soon, but while you’re there support for US banks like Wells Fargo would also be great!
Sam
Comment by Sam — September 16, 2009 @ 12:29 am
“Automated bank feeds” and general UI issues (compared to the slick Xero interface) are the /only/ reasons I’ve spent hours over the past week debating whether I upgrade my free Xero account (which I’ve been using to invoice this past month) or purchase a Saasu pro account. Deliver on those two points and Xero no longer and you win hands down, for me at least.
@admin: some flash video tutorials would be nice. As someone who has not touched anything to do with accounting since University, Xero’s ‘here’s how you do X, Y and Z tasks’ videos were great. Saasu seems to have more features and functionality which is why ultimately I’ll be purchasing the Pro account this evening, but it would be good if it was as easy to use as Xero.
Comment by Brad — January 9, 2010 @ 9:24 am