Intuit Australia (Intuit) has engaged SISS Data Services (SISS) as an outsourced service provider to facilitate open banking data feeds for Intuit’s QuickBooks customers across Australia.
As Intuit’s technology partner, SISS has enabled the critical integration that connects Intuit’s QuickBooks customers with their banking data via Australia’s Consumer Data Right (CDR).
Open banking data feeds are now being rolled out progressively for QuickBooks customers, with Commonwealth Bank of Australia and National Australia Bank connections already live, and over 100 other financial institutions to follow.
Intuit is now seeking CDR data collection and sharing consents from its Australian customers as an integral part of the new customer sign-up process to the Intuit QuickBooks Online accounting platform in Australia.
Existing customers can also switch their bank feeds over to open banking.
“SISS is delighted to support Intuit’s open banking data feeds as their chosen outsourced service provider,” said Grant Augustin, Founder & CEO at SISS Data Services.
“The benefits of open banking for small business owners and their trusted advisors include real-time data sync, time efficiency, simplified cash flow, better client insights and enhanced security standards,” he added.
Intuit and SISS have a strong existing business relationship spanning 10 years in Australia. As an outsourced service provider, SISS enables Intuit to access over 100 open banking APIs on behalf of Intuit’s QuickBooks customers.
“As a long-standing technology partner working with Intuit to power ‘accounting-grade’ data, we’re building on 10 years of experience and the strong foundation of regulatory compliance and technical excellence that both parties have,” Mr Augustin said.
Lara Thompson, Head of Partnerships APAC at Intuit said: “As the first financial management software provider to achieve Accredited Data Recipient status under the Consumer Data Right, Intuit is proud to roll out Australia's most advanced bank feed solution with the help of SISS as our technology provider.”
She noted this important milestone is empowering businesses, their accountants and other trusted advisors such as finance brokers, to minimise manual tasks, gain immediate insights, and deliver advice while retaining full control over data validation.
It also opens the door to AI-powered solutions.
“By leveraging the power of open banking’s accurate, real-time client financial data, Intuit is creating the essential data foundation for Intuit’s AI-driven expert platform to transform the way businesses, accountants and brokers operate,” she said.
The real benefits of the move to open banking will be felt by Intuit’s QuickBooks customers.
Small business accounting services was identified in 2024 as a high-value priority ahead of CDR’s expansion in 2026 to include the non-bank lending sector in addition to the banking and energy industries.