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MYOB And Banklink Announce Strategic Partnership

Media Release: 21 June 2012

MYOB And Banklink Announce Strategic Partnership

Two of the country’s most established business service providers, MYOB and BankLink, have announced a new strategic partnership which will see a wider range of financial information made directly available for businesses and accountants within MYOB’s extensive product suite – including a new range of cloud solutions.

MYOB and BankLink today announced a new partnership, which sees BankLink expand the data services it provides to include a broader array of MYOB accounting solutions. This offers MYOB clients greater access to transaction information, with BankLink supplying data from over 100 financial institutions in New Zealand and Australia.

MYOB general manager Julian Smith says the partnership provides a new level of convenience, choice and functionality within the company’s range of business and accounting solutions.

“Over the past three years, MYOB has invested more than $90 million in research and development to create a suite of products and services designed for the modern accounting practice and the demands of local businesses of all sizes and stages,” says Julian Smith.

“This new partnership provides still greater functionality within our wide choice of products – providing direct, highly secure bank data feeds that will support, in particular, our new range of cloud-focused solutions, such as MYOB LiveAccounts.”

“It is also particularly useful for local businesses that transact on both sides of the Tasman, with BankLink now providing them with access to a wider range of bank feed data from financial institutions throughout Australasia.”

BankLink general manager Richard Reese says the new partnership reflects the close working relationship between the two companies and the strength of their combined experience over more than two decades in providing business information and management services.

“MYOB and BankLink have always worked closely together, with close integration between our wide range of products and services and thousands of mutual clients,” says Richard Reese.

“With this new partnership, we are providing more opportunity for New Zealand accounting practices and businesses to have convenient and highly secure access a wider range of banking institutions – on both sides of the Tasman.”

New Zealand owned and operated, BankLink supplies over 7 million transactions a month in New Zealand and is used by over 1,300 New Zealand accounting practices to streamline the accounting for 130,000 SMEs. The company offers the widest range of data sources in Australasia, including banks, credit card, home loan and rural accounts.

As part of the partnership arrangement, MYOB will recommend BankLink’s bank data transaction services to its Accountant clients. BankLink offers the highest level of security for the data it processes from over 100 financial institutions, having achieved the Payment Card Industry Data Security Standard set by the major credit card companies.

With the new partnership arrangement in place, MYOB will discontinue its BankConnect service over the next six months, with users able to access BankLink services for similar pricing, and support provided for any customer wishing to transition to BankLink.

About MYOB
Established in 1991, MYOB is one of New Zealand’s largest business management software providers. Its 50+ products and services have been employed by more than one million businesses in New Zealand and Australia. MYOB serves businesses of all ages, types and sizes, delivering solutions that simplify accounting, payroll, client management, websites and much more. With a network of more than 20,000 accountants and other professional partners, it provides the support and tools that help make business life easier. Today, MYOB is extending its solutions online and delivering innovation through cloud computing, enabling clients to make smarter connections with their business partners and customers. For further information visit: myob.co.nz/smarterconnections.

About BankLink
BankLink is a unique solution that automates and streamlines the accounting process. For 25 years, BankLink has provided accounting practices with secure, timely, and accurate client transaction data from over 100 banks and financial institutions. It is used by nearly 5,000 accounting practices to streamline the accounting for approximately 300,000 of their business clients, in New Zealand, Australia and the United Kingdom. To find out more about BankLink, visit www.banklink.co.nz

ENDS

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