Automatic bank reconciliation with Open Banking (PSD2)

Bank reconciliation is the process of matching the movements in your bank account with the invoices issued and received. Traditionally this meant requesting statements from the bank and cross-checking them by hand. Not any more.

What is Open Banking (PSD2)?

The European PSD2 directive requires banks to share their customers' account data (with their authorisation) through secure APIs. This lets your accounting software read bank movements automatically and match them with your invoices.

Is it safe to share banking data?

Yes. The connection uses two-factor authentication and data is transmitted encrypted. The adviser never has access to your banking credentials, only read access to the movements.

What are the advantages?

• No more bank statements on paper or PDF.
• Automatic detection of outstanding receipts.
• Up-to-date accounting in real time.
• Fewer human errors in reconciliation.

At DPL we implement automatic reconciliation with the main Spanish banks. Ask us.