MYOB joins forces with financial heavyweights for SME boost

26 Jul 2016

*QuickBiz integration allows customers to access loans faster

*Growing direct bank feed coverage to AMEX

In the last twelve months, MYOB’s business strategy has focused on delivering a more integrated offering for its customers, based on the changing needs of the industry. This year alone, the leading accounting software provider has announced numerous big-name partnerships including American Express, OnDeck and most recently, NAB.

Andrew Birch, General Manager of Industry Solutions at MYOB suggests that a bold partner strategy is meeting the next generation of small business desires, stating;

“Our partner strategy has answered the resounding call from small business, accountants and bookkeepers alike that the financial industry needs to be integrated, simple and effective for its users.

“In the modern day of business, we no longer bank with one bank or use one piece of software for all our business needs. Customers want simple integration, and that is our key driver for new partnerships.”

Earlier this year, MYOB  announced an agreement with American Express that extended the number of bank feeds available for small businesses and partners using MYOB. As part of this agreement, MYOB is still the first and only accounting software company in Australia to receive bank feeds direct from American Express.

“MYOB has the best bank feeds in the industry, which is why we are the only bank feed provider that offers a quality guarantee. If our clients are not satisfied with the quality, they can claim repayment of 30 days of their subscription,” said Mr. Birch

With the new agreement, the entire process now occurs online, offering a time efficient and seamless client experience. To ensure MYOB’s direct bank feed coverage continues to grow, over the next month five new bank feeds for smaller institutions will be rolled out, including the likes of Cairns Penny, P&N Bank and Bartercard Australia.

“We can never underestimate the importance of our partners as they allow us to deliver a highly sort-after integrated service offering to our customers. No longer do customers go to the one bank or brand to look after their needs, they want choice and more efficiency from service providers.”

In addition to the bank feed integrations, MYOB is also partnering with NAB QuickBiz Loan, in which MYOB will be extending its SME lending service offer. Available Q3 this year, the integration will provide SMEs with access to pre-approved loans faster, with MYOB customers able to automatically provide customer-approved data to NAB for pre-approved business loans through QuickBiz.

Mr. Birch suggests that this will remove the burden that SMEs currently face when it comes to compiling business financial statements, explaining;

“With the lending environment changing, we are looking to continually provide our customers with convenience when it comes to funding. Last year, we also partnered with small business lender, OnDeck, to help ease the process for businesses when it comes to approving and funding small business loans. For us, it’s important that we help our customers harness the opportunity to grow.”

“Looking back over the last twelve months, we are proud of the mammoth effort it has been to provide customers with the key integrations they need through our various partners. Customers now have access to a range of different service offerings which provide them with choice and efficiency, making life easier for SMEs and their accountants,” concludes Mr Birch.

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For further comment or other information please contact:

Saba Chowdhury, PR Manager, MYOB

M: 61 400 300 913 / E: saba.chowdhury@myob.com


Georgia Colahan, Account Executive, Ogilvy PR

P: 02 8437 5384 / M: 61 432 882 080 / E: georgia.colahan@ogilvy.com.au

About MYOB

MYOB Group Ltd (ASX: MYO) is a leading cloud based business management solutions provider. It makes business life easier for approximately 1.2 million businesses across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB provides ongoing support via many client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly in cloud computing solutions, and in 2015 was awarded the BRW award for the most innovative large company for 500+ employees and placed 2nd in BRW’s Most Innovative Companies Award list across all categories nationally.  For more information, visit http://investors.myob.com.au/Investors or follow @MYOB on Twitter.