Airwallex and Onlineone’s new NetSuite bank feed integration simplifies reconciliation of business expenses

Global fintech will continue to expand on its growing portfolio of accounting integrations. Airwallex announces a new bank feed integration with NetSuite, the leading accounting software, created in partnership with Online one.

From today, Airwallex’s customers in Australia, Hong Kong, EMEA and the US will be able to automatically synchronize transactions in their NetSuite accounts for the latest view of their financial position in a single platform. Customers will be able to reconcile their business expenses more quickly and accurately by eliminating the need for manual entry.

“We’re excited to extend our integration partnerships to include NetSuite. By offering our customers the added convenience of automatically synchronizing their Airwallex transactions to NetSuite, they stand to benefit from time savings and reduced risks associated with manual errors, allowing businesses to manage their finances more efficiently.”  Gajia Parasons, VP, Head Product Partnerships, Airwallex.

“Being customers of Airwallex ourselves, and using Airwallex’s APIs, we saw the perfect opportunity to build innovative solutions on top of NetSuite,”  Craig Traub, Chief Operating Officer at Onlineone.

Earlier this year, Airwallex successfully trialled the integration with a group of businesses before today’s launch. Matthew Jie is a Devcos International financial controller and was one of the businesses who participated in the trial. He said that the integration helped him overcome problems with manual payment reconciliation.

“We have been using the Airwallex bank feed in our NetSuite account for the past few months. It has helped us save a lot of time with manual uploads. The team can perform bank reconciliation in NetSuite at any time without worrying about whether transactions match our bank statements. This is absolutely a great feature for improving efficiency,”  Matthew.

This latest partnership follows a number of others Airwallex has signed with some the largest brands in the world. In a statement earlier this year, Airwallex announced that it had been selected by Qantas Loyalty to power its new and upcoming financial services offering, Qantas Business Money. Airwallex has been in operation since last year. partnered with UK-based investment app Plum to support the launch of its new US investing product.

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