This bank feed will allow Tide members to transfer transaction data seamlessly and securely from their Tide account to the QuickBooks Online small business accounting platform, helping them to save a huge amount of time in a previously manual process.

This integration from Tide will be its first use of the new Open Banking standard with any financial management software and puts members in control of their data. Open Banking is an easier way to move, manage, and share financial data.

The new Tide - QuickBooks integration will give Tide members close to real-time updates on their payments, expenses and cash balances exactly when they need it. It will also allow members to maintain a fully formed picture of their accounts (being able to look back up to two years), to better understand and manage their business’ cash flow.

The bank feed will be quick and easy to set-up either through the QuickBooks or Tide interface, with members being able to start using the bank feed in minutes.

Oliver Prill, CEO at Tide said: “Integrating with QuickBooks has been a big target for us since we launched, so it went without saying that we would prioritise them as the first major integration to launch using the new Open Banking standards.
“Accounting integrations are an important part of Tide’s strategy as a digital platform. With our mission being to save small businesses time (and money), seamless connectivity between the tools used by small businesses to manage their banking and admin is crucial.”

Shaun Shirazian, Head of Product Europe for Intuit QuickBooks, said: “We know that lots of our customers are embracing new digital solutions in the workplace and changing how they run their businesses. Ensuring that we’re able to empower that journey through the best and latest innovations, advanced Open Banking connections and amazing digital partnerships with the likes of Tide, is vital for the prosperity of our customers.”