What is Bank Feeds API?
A bank feed is a digital connection between a financial institution and an accounting software that performs an automatic regular transfer of bank statements into the software.
Leverage our Bank Feeds API to simplify the deployment of bank feeds in your application. It creates the associated infrastructure for you and automates the upload of bank statements into accounting software used by your small and medium-sized business (SMB) customers.
Who is it for?
Our Bank Feeds API makes it easy for banks, neobanks, corporate card issuers, and payment providers to ensure customers can access their bank transaction data within their accounting software.
As a result, your customers enjoy a more complete and simplified accounting experience, save time closing their books, and further reduce manual error without requiring third-party middleware or manual file uploads.
Why use it?
A recent survey revealed that 71% of Xero partners identify bank feeds and bank transaction reconciliation as their most valued features. With Bank Feeds API, you can easily meet this demand.
Leverage our coverage of the most popular accounting software and remove barriers to product adoption, increasing customer retention and elevating their experience with your app as a result.
With Bank Feeds API, you can:
Reduce churn
When your services integrate effortlessly into your customer's tools and processes, they're less likely to switch to a competitor.
Improve accuracy
We help your customers close their books faster and with fewer manual errors.
Keep balance up to date
Near real-time balances help your customers manage their finances more effectively and make the right choices.
How does it work?
Bank Feeds API supports your build through all the key stages of establishing a bank feed and using it to automatically upload bank statements to your SMBs' accounting software.
Configure customer
To establish a bank feed between a financial institution and an accounting software, you will create a source account in Codat that serves as replica of an actual financial account, savings account or credit card. This account can later be mapped to a target account in your customer's accounting software.
At the same time, you will also create additional Codat infrastructure elements, such as a company and a connection.
Establish bank feed
Next, you will enable your SMB customer to let you connect to their accounting software. They will authorize that connection via our auth flow, which you will implement when building with Bank Feeds API.
Then, provide your user with a UI so they can select the target accounts in that platform. This will tell Codat where exactly to establish a bank feed. Depending on your customer's software, there are three methods you can use for mapping: Codat's UI, your own UI, or the integration's UI.
The setup process and platform registration requirements vary for each Bank Feeds API integration. For detailed instructions, refer to the documentation we provide for each integration.
Import transactions
Once your SMB customer completes the authorization and account mapping process, you can begin the automatic upload of bank statements by writing transactions into the target bank account on the accounting software.
Supported integrations
Build with client libraries
Use our comprehensive SDKs to kick-start and simplify your developers' journey deploying bank feeds in your application. The SDKs come in multiple languages and provide sample requests and responses for the full range of bank statement automation scenarios.
)
Read next
- Start building with our Bank Feeds API