Intuit Australia has significantly advanced financial management for its small business customers by officially rolling out Open Banking data feeds for QuickBooks, powered by technology partner SISS Data Services. This critical integration connects QuickBooks customers directly with their banking data via Australia’s Consumer Data Right (CDR) framework, establishing what Intuit calls the country’s most advanced bank feed solution.
The progressive rollout has already connected customers with major institutions like Commonwealth Bank of Australia and National Australia Bank, with connections to over 100 other financial institutions to follow. The integration of CDR data is being established as an integral part of the new customer sign-up process for the QuickBooks Online accounting platform. Existing customers also have the option to switch their existing bank feeds over to the new Open Banking platform.
Real-time data fuels AI transformation
The shift from older, fragmented data methods to the CDR framework provides substantial benefits for small business owners and their financial advisors. The advantages include real-time data synchronisation, enhanced security standards, time efficiency, and simplified cash flow management.
Crucially, the move creates the essential data foundation for Intuit’s AI-driven expert platform. By leveraging the power of Open Banking’s accurate, real-time client financial data, Intuit aims to transform the way businesses, accountants, and brokers operate.
Lara Thompson, head of partnerships APAC at Intuit, noted that this milestone empowers businesses and their trusted advisors, such as finance brokers, to minimise manual tasks and gain immediate insights while retaining full control over data validation. Intuit is the first financial management software provider to achieve Accredited Data Recipient status under the Consumer Data Right.
Leveraging outsourced expertise
Intuit engaged SISS Data Services as an outsourced service provider to facilitate the Open Banking data feeds. SISS, which sources data through both direct bank connections and Open Banking, enables Intuit to access over 100 Open Banking APIs on behalf of QuickBooks customers.
Grant Augustin, founder & chief executive officer at SISS Data Services, highlighted the strength of the long-standing collaboration, which spans 10 years in Australia. “As a long-standing technology partner working with Intuit to power ‘accounting-grade’ data, we’re building on 10 years of experience and the strong foundation of regulatory compliance and technical excellence that both parties have,” Augustin added.
The adoption of Open Banking for small business accounting services was identified in 2024 as a high-value priority, ahead of the CDR’s expansion in 2026 to include the non-bank lending sector.
