Nedbank Small Business Services clients now enjoy yet another layer of secure banking convenience, thanks to the bank’s implementation of a direct bank feed to Sage Accounting platforms.
The solution makes it possible for Nedbank clients with Sage Accounting products to set up a secure, one-way feed easily to export their daily banking transactions from Nedbank to their Sage platform securely, at no additional cost to them.
According to Alan Shannon, Executive of Small Business Services and Private Clients at Nedbank, this direct bank feed enables clients to streamline their financial management processes. It would eliminate the need for time-consuming manual entries, and the arduous downloading and uploading of transactions.
‘Our bank feed to Sage functionality is also highly secure and doesn’t require any third-party connections or sharing of bank details,’ Shannon explains. ‘It provides unparalleled flexibility by allowing users to set up instructions for the feed to operate at a set time, e.g. daily, at each login, or manually.’
Not only does the feature save valuable time by eliminating manual tasks, but it also provides a secure and efficient method to consolidate financial data. There is no limit on the number of Nedbank accounts that can be linked, and the free functionality links to the most popular Sage products, such as Sage Business Cloud Accounting, Sage 50 Cloud Pastel, Sage 200 Evolution and Sage Intacct.
Once set up, the feed must be configured only once and according to the user’s preference so that transactions can be exported as configured. Users can change the parameters or cancel the services on the Money app or Online Banking. Access via other Nedbank electronic banking platforms will be possible in the future.
According to Shannon, the direct bank feed functionality is another way in which Nedbank is leveraging its extensive investments in technology to deliver ‘beyond banking’ value for its business clients. ‘This innovative bank feed to Sage Accounting platforms shows Nedbank’s commitment to provide secure, efficient and seamless banking solutions that help our clients optimise their business operations,’ he says. ‘Our collaboration with Sage to provide an innovative service proves our determination to harness the power of leading digital technology to continuously enhance the value we provide to our clients.’