Intuit & SISS launch Open Banking data feeds for QuickBooks
Intuit Australia has appointed SISS Data Services as an outsourced service provider to facilitate Open Banking data feeds for its QuickBooks customers throughout the country.
The agreement allows Intuit's clients to connect directly with live banking data through integration enabled by Australia's Consumer Data Right (CDR) framework.
Bank connections
Intuit now holds Accredited Data Recipient status under CDR, permitting the collection and sharing of banking data with customer consent. The rollout of Open Banking feeds has commenced for QuickBooks customers. Connections are currently live with Commonwealth Bank of Australia and National Australia Bank. More than 100 other financial institutions are expected to be added progressively.
The data sharing process is embedded in the QuickBooks Online customer sign-up in Australia. Existing customers are encouraged to switch to the new Open Banking feeds, prompted automatically on login. These feeds replace previous systems, offering greater data automation and accuracy.
Integration benefits
SISS provides Intuit with access to a breadth of Open Banking APIs, enabling secure and direct access to customer bank data at scale. These services support platforms requiring high-quality, accounting-grade data. SISS's support allows Intuit to meet regulatory compliance while upgrading its customer offering.
"SISS is delighted to support Intuit's Open Banking data feeds as their chosen outsourced service provider," said Grant Augustin, Founder & CEO, SISS Data Services.
Augustin also highlighted several customer benefits: "The benefits of Open Banking for small business owners and their trusted advisors include real-time data sync, time efficiency, simplified cash flow, better client insights and enhanced security standards," said Augustin.
He added, "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."
Technology platform
Lara Thompson, Head of Partnerships APAC at Intuit, indicated that the company is using the new data integration as a platform for further technical advances.
"As the first financial management software provider to achieve Accredited Data Recipient status, Intuit is proud to roll out Australia's most advanced bank feed solution with the help of SISS as our technology provider," said Thompson.
Thompson said that the adoption of CDR feeds will streamline daily financial management for small businesses. She pointed to several operational improvements, including minimising manual tasks, enabling instant insights, and offering secure control over data validation. The integration also sets the groundwork for AI-driven solutions.
Augustin observed the increasing role of data in powering AI-driven insights: "If AI's the engine, then data's the fuel," said Augustin.
Thompson added, "By leveraging the power of Open Banking's accurate, real-time client financial data, Intuit is creating the essential data foundation for Intuit's AI-driven expert platform to transform the way businesses, accountants and brokers operate."
Customer impact
The shift to Open Banking is already affecting small businesses using QuickBooks. Brooke Alexander, founder of Cookie Doughboy, said the platform's banking integration saves time and offers greater oversight. "I can finally spend less time staring at spreadsheets and more time baking! With the Open Banking integration, my bank feeds automatically and accurately flow into QuickBooks... it's about making running Cookie Doughboy more efficient and giving us the real-time financial insights we need to plan for growth," said Alexander.
Regulatory background
Small business accounting has remained a major use case for Open Banking since it was flagged by the federal government as a CDR priority. The framework, which currently covers the banking and energy sectors, is set to expand to non-bank lending in 2026.
