Barclays customers using Xero will have the option to import and categorise their bank statements automatically across everyday accounts, term deposit, savings and foreign currency accounts, making manual uploads and downloads redundant, and saving businesses valuable time.

The collaboration provides a secure and simple solution for joint customers, presenting their financial statements from their bank into their Xero app. Barclays is the eighth bank to join Xero’s direct feeds technology.

Jonathan Ashton, MD and Head of Digital Client Access: “As a champion of small businesses we are always happy to support our customers with more automated integration to their own Accounting Systems. This integration of account-based reporting with Barclays and Xero will bring a better experience to customers as they expand and develop their businesses.”

Xero enables UK small businesses to access quick, reliable financial information through Xero’s live data feed and bridges the void between businesses and world-class financial services.

Xero customers can reconcile their accounts with one click, manage their business data in one place, create smart reports and professional invoices - all of which can be managed on the move, through Xero’s cloud accounting apps.

Gary Turner, Xero’s UK co-founder and managing director: "Recent research found that businesses who actively manage their finances on a daily basis enjoy much greater prosperity and survivability. This new technical partnership between Xero and Barclays makes this a reality for many more businesses which is good news for them and for the vital contribution small businesses make to the economy as a whole."