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What is Sage Banking Service?

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Banking Service is a global platform that integrates with financial institutions, banks and bank aggregators. It enables the Sage product portfolio to remain up to date and reconciled with the transactions in our users’ bank accounts.

Basic overview of the banking service

Banking Service can provide users with reliable, timely and accurate transaction information from all relevant banks and credit card providers.

Using Banking Service reduces the time spent manually entering data, and allows users to track cash flow in real time. It streamlines bank reconciliation by effectively reconciling your bank every day. This gives users confidence that bank accounts are in order at the end of the month.


Banking Service capabilities

Banking Service coverage

We get transactions using direct feeds from the banking or financial institution. Or, when a direct feed is not available, a 3rd-party aggregator.

We have been increasing the number of direct feeds offered to our customers.

How Banking Service works

1. Choose bank
Look up your bank and enter account details. Choose Bank
2. Authorise feed
Give permission for Sage to retrieve your transaction data, securely. Authorise Feed
3. Activate feed
When activate, your bank transactions will go straight into your Sage solution. Activate Feed
4. Set up rules and reconcile your records
The customer can set up custom rules for their business so new transactions will be automatically categorised and allocated. Setup Rules and Reconcile your records

Sage Accounting bank feeds

This video demonstrations shows you how a user sets up bank feeds in their product and uses the Banking Service. The user experience may vary slightly depending on the Sage product.

Who is this for?

Direct bank feeds will target three distinct audiences:

  • Accountancy practices who are managing the accounts of sole traders and small businesses.
  • Sole traders and small business owners who manage the accounts themselves.
  • Finance departments of small and medium businesses with more complex needs and a large number of bank accounts and credit cards.

Why it’s essential for customers

Increased accuracy

The automatic reconciliation process reduces the risk of human errors.

Saves time

It eliminates the process of manually entering each transaction to reconcile bank statements.

Easy to use

With only a few steps required to start and automatically reconcile after that, bank reconciliation is done in a few clicks every time.

Improved workflow

Banking Service customers streamline their workflow by:

  • eliminating manual data entry
  • removing the need for an accountant to reconcile bank records
  • automating the bank reconciliation process

Provider API

We have to keep up with the changing nature of the banking sector and its governance. Because of this, providing a secure and reliable solution is extremely important. We have implemented a new connection method that delivers quality service and a consistent experience.

Sage has worked with industry leaders to create the Provider API. We developed this API recognising the increase in neo banking services, and their popularity. It allows banks and financial institutions to push customer transactions to Banking Service.

The Provider API equips banking and financial institutions with the tools they need to create Banking Service connectors. It includes the following benefits:

  • Direct integration with Banking Service.
  • Independence of 3rd party aggregators and software solutions.
  • Banks and financial institutions can develop and test their own connectors at their own pace.

Explore the Provider API >

Overview of the banking service provider API