This integration gives small businesses access to more financial information, faster than ever, and at no extra cost from their accounting dashboard. Through Xero’s API for bank feeds integration, any Capital on Tap card transactions automatically appear on the dashboard within just a few hours.

Capital on Tap provides SMEs with access up to £50,000 credit instantly and a Mastercard to help manage their expenses more effectively. Customers can receive multiple cards free of charge, add spend limits to each card for their employees and even earn rewards points, which they can redeem for Avios or cashback, on all their business spend. All card spend is tracked on the intuitive web portal and customers can easily track their team’s spending.

Through providing over £800m of funding to more than 55,000 UK SMEs, Capital on Tap has evolved their core product and features to provide the best credit facility for UK businesses. It provides a great alternative to the traditional banks and credit card providers. Now being the first to integrate with the Xero Bank Feeds API takes their product one step ahead of the rest.

So far, the feedback from users has been overwhelmingly positive. Graeme Tinnick from Graeme Tinnick & Co Accountants said ‘It’s the best integration I’ve ever used’, which is supported by another accountant who commented that it is ‘such a simple journey compared to the other banks and credit cards available’.

Ben Johnson, Partnerships Manager - Platform Business, Xero explains “These integrations have been requested from our small business subscribers time and time again. Digital feeds from a customer’s bank or card account into Xero saves a huge amount of time, and gives them a real time view of their financial position.

“With the advent of Open Banking, we’re delighted to see organisations such as Capital on Tap make the most of our bank feeds API. In just a few clicks, customers can set the connection up and a few hours later the transactions appear.’

‘Capital on Tap and Xero are both on a mission to save time for businesses and accountants, allowing them to get back to focusing on what they love’, said David Luck, Capital on Tap’s CEO. ‘This integration helps to achieve that, removing manual work and giving SMEs back their valuable time’.