We are thrilled to announce a significant milestone for Skript as we join forces with BGL Corporate Solutions (BGL), Australia’s leading provider for Self Managed Super Fund (SMSF) and corporate & compliance solutions. This strategic partnership marks a giant leap forward in enhancing security, data quality, and the overall customer experience of bank data feeds in the SMSF industry.
Open Banking, driven by the Australian Government’s Consumer Data Right (CDR) initiative, empowers individuals and businesses to have greater control and transparency over their financial data. Skript, an accredited data recipient of the CDR, acts as an intermediary and allows other businesses to embed Open Banking in their own systems.
The integration between BGL and Skript will streamline the collection of data from all Australian banks for transaction accounts, term deposits, loans, and credit cards. This data will seamlessly flow into BGL’s financial solutions, including Simple Fund 360 and Simple Invest 360. Notably, this will include historical data, including details of both open and closed accounts.
Jeevan Tokhi, Head of Simple Fund 360 at BGL, highlighted the benefits of this partnership for individuals and SMSF Trustees: “Open Banking allows individuals to share their banking data with third parties, such as Skript, that have been accredited by the ACCC. Account Holders such as SMSF Trustees who sign up to share their data through Skript can manage how Skript collects, uses, and discloses their data and withdraw their consent at any time. The setup process takes less than 2 minutes.”
This integration will replace the need for individual data feeds to be set up for every account, simplifying the sharing of bank data for SMSF Trustees and facilitating the collection of bank data for accountants and administrators. SMSF Trustees can authorise all their accounts from multiple banks in a single process, eliminating the need for paper authority forms for each connected bank account.
BGL’s free and open API is used extensively across the industry with 350+ data feed and integration partners in the BGL Ecosystem, delivering a holistic experience to BGL clients.
Our CEO and Co-founder, Eric Tsang, shared his excitement about the partnership, stating, “Skript’s partnership with BGL will transform the landscape of bank data feeds and give Australian businesses and consumers enhanced security and better quality data. With over a decade of experience in providing bank data, we are well and truly at the forefront of driving systemic adoption of Open Banking in Australia.”
Skript’s partnership with BGL underscores our commitment to providing businesses with the tools and data required to thrive in the emerging era of finance.
Stay tuned for more updates on this exciting partnership as we continue to drive innovation in the Open Banking space.
About BGL
With over 30 years of experience in the software industry, BGL Corporate Solutions (BGL) delivers innovative, multi-award winning company compliance management, self-managed superannuation fund (SMSF) and investment solutions to over 9,500 businesses in Australia, Hong Kong, New Zealand, Singapore the United Kingdom and 15 other countries around the world. BGL clients include all major accounting firms, law firms, many listed and private company groups, accountants, financial planners and many individual SMSF trustees.
Simple Fund 360 is a complete SMSF administration software with powerful automation and AI-powered technologies. Plus, built-in Accounting Workpapers and intelligent document data extraction, transaction matching, and review. Simple Invest 360 is a complete accounting, investment and tax software with powerful automation and AI-powered technologies. Plus, seamless preparation and electronic lodgment of trust and company tax returns.
For more information, please visit www.bglcorp.com.
