Created by: Emilian Siemsia | 7 March 2023

How to streamline reconciliation process with open banking

In the modern era of technology and innovation, businesses require fast, secure, and automated solutions to manage their accounting and financial assets. Reconciliation is one such process that plays a vital role in ensuring financial accuracy and compliance. In recent years, the introduction of open banking has provided businesses with a new avenue to access and manage their bank accounts and financial data more efficiently.

Open banking allows businesses to access and manage their financial assets via a third-party provider's API, which can offer a range of benefits. One such benefit is the ability to perform reconciliation quickly and easily. Open banking APIs can access a company's current account data in real-time, allowing for fast and automated reconciliation.

This is where Planky API comes into play. Planky API is an open banking third-party provider that specializes in providing reconciliation services for businesses. Their API provides a simple and secure way to reconcile a company's financial data, ensuring that all transactions are recorded accurately and in real-time.

Planky API's reconciliation service is automated, fast, and secure. With Planky API, businesses can streamline their reconciliation process and save time and resources. By automating the reconciliation process, businesses can avoid errors and reduce the risk of non-compliance with accounting regulations.

One of the most significant advantages of using Planky API for reconciliation is its ease of use. The API is straightforward to integrate into existing systems, and the interface is user-friendly, making it easy for businesses to manage their financial data.

Another advantage of using Planky API is that it is secure. The API uses advanced encryption and security protocols to protect sensitive financial data. Businesses can trust that their financial information is secure and that they are in compliance with data protection regulations.

Planky API is designed to be easily integrated with a variety of different accountancy software or ERP systems. This means that businesses can seamlessly incorporate Planky API into their existing financial systems without any disruption to their daily operations.

In conclusion, reconciliation is a crucial process for businesses to ensure financial accuracy and compliance. Open banking provides a new avenue for businesses to access and manage their financial data more efficiently. Planky API is an open banking third-party provider that specializes in providing reconciliation services for businesses. Their automated, fast, secure, and easy-to-use API provides an ideal solution for businesses looking to streamline their reconciliation process.


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