ASB has formed a strategic alliance with Xero, aimed at improving ASB's business online banking and Xero’s online accounting system.
Under the partnership ASB has allocated significant internal funding to develop new features that will make the connection between banking and accounting easier, hoping to demonstrate the next wave of integrated banking services.
As the partnership progresses Xero CEO Rod Drury says there will be an increase in marketing initiatives to increase end user awareness to benefit the entire Xero ecosystem.
“We have a strong relationship with ASB, who are leaders in online innovation,” Xero CEO Rod Drury told Techday.
"What we are seeing is that accounting is the service adjacent to banking and strong cycle between the two.
"This partnership represents a good opportunity to make the process much more seamless for end users."
"We've always worked with the banks and have been doing this anyways," Drury says. "What we are taking about is more than a marketing partnership - it's actually building a new collection of banking services that any online accounting provider should be able to connect to."