FreeAgent CEO The convergence of banking and accounting is on its way web

FreeAgent CEO: ‘The convergence of banking and accounting is on its way’

Ed Molyneux, chief executive of FreeAgent, discusses the opportunities being driven by Open Banking, technology adoption in the accounting sector and MTD. He says that at present, accountants are behind the curve when it comes to technology adoption, due in part to poor experiences with software in the past, but says this is changing all the time, particularly with the future introduction of MTD for income tax. “One of the opportunities we see is greater integration between banking and accounting. It is a data problem, the idea of having to get your bank statements into your accounting system somewhere. A lot of those problems are being solved by Open Banking, so the convergence of accounting and banking is on its way.”

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