What is Sage Banking Service
Sage Banking Service is a service to obtain and manage the bank transaction feeds and rules requested by users relying on Sage to power their business. Transactions are obtained via both direct feeds with the banking/financial institution or, when a direct feed is unavailable, an aggregator such as Yodlee or Plaid. The service is consumed by Sage’s own internal products including Sage Business Cloud Accounting and Sage 50c.
Banking Service Coverage
Since the creation of Banking Service, we have been steadily increasing the number of direct bank feeds offered to our customers. Where direct feeds are unavailable, 3rd party aggregators have been used to improve coverage.
The changeable nature of the banking sector and its governance often brings about change with which we must keep up. Because providing highly secure and reliable solutions is extremely important, Sage has implemented a new connection method that delivers a quality service and consistent API experience to any developer.
Recognising the growing number of neo banking services and their popularity, Sage have worked hand in hand with industry leaders to create an API which allows banks and financial institutions to push their customer transactions to Sage Banking Service.
The Banking Service - API Provider equips banking and financial institutions with the tools they need to create their own Sage Banking Service connectors, providing the following benefits:
- Direct integration with Sage Banking Service.
- Independence of 3rd party aggregators and software solutions.
- Banks and financial institutions can develop and test their own connectors at a pace that is comfortable to them.