JustAccounts & Cashplus create UK’s first Accountancy Software & Business Account dual API integration
JustAccounts (JA), the first white-labelled accountancy platform built specifically for contractor accounts, working with Cashplus, the digital challenger to banks, have announced the planned release of their 2-way integrated API.
For the first time in the UK, a Business Current Account and Accountancy software will have a real-time connection in place for both transactional and balance data, as well as to enable users to open a Business Current Account at the click of a button from within the accountancy software.
Cashplus application and transactional APIs will interact with the JustAaccounts platform to provide a seamless and secure journey for contractor clients, exemplifying the true working purpose of APIs in banking services.
Through the Cashplus transactional API, JustAccounts’ customers are able to draw down their transactions to fulfil accounting requirements in real time. Transactions are instantaneously imported into the JustAccounts platform for reconciliations to be carried out individually or by using the batch reconciliation option.
Simultaneously, JustAccounts will integrate their platform into the Cashplus application API to offer their customers a Cashplus Business Current Account. Through the JustAccounts dashboard, customers can then open an account, based on the information already held, with approved customers being presented with an Account Number and Sort Code within the JustAccounts environment within minutes.
Where the payments services industry is struggling to meet the PSD2 deadline by launching APIs, let alone prove their commercial merits, the announcement demonstrates how APIs can revolutionise the whole accounting experience for the contracting workforce who continue to be overlooked by high street banks.
Nick Biggam, Commercial Director of Cashplus said: “We are really excited about this working partnership, which will set a new standard in seamless cross-platform servicing of Freelancers and Micro Businesses in the UK. Cashplus has consistently been ahead of the fintech curve, with this relationship providing real proof that it is possible to successfully commercialise APIs.”
Kilian Fitzsimmons-Wilson, Commercial Director at JustAccounts, said: “We are very happy about how our working partnership with Cashplus is evolving. It is exciting and rewarding to bring UK businesses an integration which is so quick and easy to use, even for those who have never used a platform before.At JustAccounts we are continuously adapting to the market, bringing our clients exactly what they need to make their businesses thrive, both in terms of technology and partnerships.”