SINGAPORE (Aug 1): DBS has partnered New Zealand cloud accounting platform Xero to launch an API-driven bank feed integration service with the aim of providing the bank’s small medium enterprise (SME) customers a better grasp of their cash flow with automatic, and thereby prompt, updates on their own accounts.

With the new service, SMEs can now connect their DBS business banking accounts to automatically import their transaction data to Xero's platform, and subsequently receive up-to-date views of their financial position in Xero. 

While SME customers can set up a direct feed between DBS and Xero for free, users will have to pay a monthly subscription of $30 to use Xero's cloud-based platform. 

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