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Validation - Banking integration platform

Hi all,

A UK-based developer here. A quick idea based on the back of me playing with some Open Banking APIs earlier this week that I'd like your thoughts on.

Would anybody here use a platform which integrated your bank account to any of these apps?

Imagine a platform where you can set triggers on bank account activity - new transactions coming in from certain clients, account balance thresholds being hit - and trigger these events to any of the apps on the list.

A few example use cases:

  • When a new transaction comes in from a certain client, update their record in Salesforce
  • When a bank account balance (or even aggregate balance) reaches a certain threshold, notify the team in Slack

My questions:

  1. Are there any other products like this that you’ve seen? My initial quick research shows accounting software such as Xero and QuickBooks offers bank feeds from selected banks to reconcile transactions. Some banks have Zapier integrations (like Revolut for business), but this is limited to certain banks and transaction activity only.

  2. Is this something as an Indiehacker or business owner you would use? What sort of apps would you plug in to and what kind of triggers would you want to set up?

This feels like something useful for the B2B market - business owners, financial controllers and finance teams that have manual actions they perform off the back of account activity (that isn’t just reconciliation with accounting software). I lack the experience in these sorts of positions to understand their pain points so any insight would be appreciated!

on February 5, 2020
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    1. None that I know of.
    2. Yes, absolutely. See my blog post on this subject (hint: Unfortunately, nothing much has changed since 2016): https://bjoernkw.com/2016/04/03/accounting-in-2016/