Danske is the first bank to allow businesses to view all their accounts in one place

DANSKE Bank has become the first bank in the UK to create a digital solution that allows business customers to view all their accounts and payments across multiple banks in one place.

Through its “District” online business banking platform, businesses can now get a complete overview of their finances and get a single point of access to their accounts and transactions, including those with other banks, without having to switch between different banking platforms.

After an initial pilot phase, over 60 businesses in Northern Ireland are now using the new account aggregation feature, including Co Antrim-based Wilsons Auctions.

The family business has grown from a single auction site in Northern Ireland to the largest independent auction company in the UK and Ireland, with 19 sites and an annual total of over £400m .

Paul Clarkin, Chief Financial Officer of Wilsons Auctions, said: “We operate bank accounts with a number of UK banks, but Danske is our main bank. Using this functionality within Danske’s online banking platform has simplified our ability to process customer payments. We can now see all incoming payments in one convenient location, which improves our workflow and frees up time for other tasks.

“It also means that we have a quick overview of all our live bank balances throughout the day without having to worry about passwords, key fobs and multi-factor authentication for all our other banks. looks like a modest change, but it had a big impact.

David Thompson, Head of Digital Channels at Danske Bank UK, said: “We want it to be as easy as possible for our customers to do business with us and to make it easier to manage their day-to-day business. This means continuously investing in new, innovative digital features to improve the customer experience.

“We are delighted with the feedback so far. Clients have told us they save time because they have all the information they need on one screen, helping them make business decisions based on a complete overview of their finances.”

The new solution is based on open banking, which connects banks, third parties and technical service providers, allowing them to exchange data simply and securely for the benefit of their customers. It was developed in partnership with Aiia, a Danish open banking specialist.

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