Xero adds automatic feeds to North American offering

Jan. 13 (BusinessDesk) - Xero Ltd., the cloud-based accounting platform provider, today announced that it has expanded its automated bank feed functionality to include feeds from more than 2,000 banks and financial institutions across the U.S. and Canada.

Automated feeds, which are already available to customers in Australia, New Zealand and the U.K., are the latest push by the company to make headway into the North American market, and are powered by U.S.-based online banking service provider Yodlee, Inc.

Bank feeds allow bank account data to appear seamlessly inside the accounting application, aimed at making it easier for small and medium sized business to manage their finances, and is seen as a major differentiating factor over rival offerings.

Xero's aim of cornering the SMB niche for online accounting products in the U.S. received a boost last year when PayPal founder and Facebook board member Peter Thiel pumped $4 million into the company to help fund its expansion.

The company's share price soared since Thiel's investment in October, touching an all time high of $3.15 in December, having traded in a range of between $1.40 and $1.60 for much of the year before that. Shares were last at $2.90.

(BusinessDesk) 10:19:57

BUDGET 2012:
Parliament Debate Live - Video Of Budget 2011
Keith Ng Interactive Graphic: How the Budget Breaks Down
BUDGET 2012 - FULL COVERAGE: Reports / Analysis - Press Kit - Reaction (from everybody) - Previews (from everybody) - Pre-Budget Announcements

Gordon Campbell: On the Budget’s Spreadsheet Victories

It wasn’t as if expectations were sky high, exactly. Chances are, it was always more likely that we’d be seeing Bigfoot rampage through the Beehive lock-up than catch a glimpse of a credible growth agenda from this government. More >>

Sludge Budget Report - Short The Dollar! MEMO: To international bankers FROM: C.D. Sludge Please short the dollar! It'll be good for both you and us. And you know you want to. Greexit, Eurogeddon... watch out... flight to quality and all that. Follow your instincts. The NZ Debt Management Office has been so surprised at the unprecedentedly low interest rates that it can borrow at that it has already entirely pre-funded the 2013 fiscal deficit - all $8 billion of it! More >>

Pattrick Smellie Comment: Doddling along the best we can hope forCriticising Budgets for lacking vision or imagination is like shooting fish in a barrel, but even so, this year's Budget again feels like a missed opportunity. Perhaps it's the intrusion of real world needs that means the government couldn't make better political use of the $558.8 million it expects to gather in its first partial asset sale. More >>