Simplifying Change:
Quick and Easy Business Links in Under 30 Seconds
Choose your accounting package provider, grant Pulse view-only access, and receive game-changing insights in your inbox monthly!
So, What is Open Accounting?
What are the benefits of Open Accounting?
2. It provides real time access
3. It shows the current health and wealth of a business
4. Transactions are already categorized
How can Open Accounting help Fintechs?
accounting information is readily available,
making it quicker for lenders to access
recent Profit and Loss statements,
purchase orders, credit notes and
everything else they need to underwrite a
Taking Open Banking a step further…
Isn't banking data the be all and end all?
We don't need Open Accounting, as Open Banking does the job
Similar to Open Banking – a service that enables finance providers to access a business' banking information securely and safely – Open Accounting enables businesses to permit Trusted Third-Parties (TTPs) access to the data contained in their accounting ledgers.
Simply put, Open Accounting means that Fintechs like Pulse can get a 360° view into the current financial health of a business to offer the right products and services to each business.
Open Accounting is not worth the effort
Open Accounting is so much simpler than it sounds. It's not complicated for lenders or the businesses granting access, either. The journey is effortless, which is why this is becoming part and parcel of every day business lending. Fintech is always focused on innovation and streamlining processes wherever possible – and that's exactly what Open Accounting does!
To do what Pulse does, we need access to the data stored within your accounting package. But remember, it's not compulsory. We can't (and would never) force any business to provide access to their accounting data. The control is all yours and you can revoke access at any point!
Open Accounting poses a data privacy risk
In simple terms, no, it doesn't. Open Accounting is completely safe and was designed with data privacy in mind.
Fintechs like Pulse cannot access any data within an accounting package without the business first granting third party, read only access. You'll never, ever be opted in – you must always give clear consent before we're able to view your accounting data.
Managing Lending Risks:
Ensuring Comprehensive Insight and
Cash Flow Analysis
While bank transaction data is valuable, it doesn’t provide the perfect lending solution by itself. Merging Open Accounting with Open Banking gives a complete business view, helping lenders customise loans to meet specific business needs.
Protection
Safe and secure, as it should be
Built on trusted protocols and certified by Cyber Essentials Plus, we make it our priority to deliver class-leading security.
Leveraging the power of Microsoft Azure, Pulse ensures your data is managed on a secure, reliable, and scalable platform. We protect your financial information with comprehensive encryption, both at rest and in transit, and employ stringent security measures such as multi-factor authentication, geo-fencing, and IP restrictions to block unauthorised access.
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Remember
Every device and user in the Pulse network benefits from enhanced protection through Microsoft Entra ID, guaranteeing the security of your digital identity at all turns.
