Has anyone used the “Auto Bank Statement Import” o...
# generalc
Cory Weiner
02/28/2022, 7:16 PMHas anyone used the “Auto Bank Statement Import” or the “BankFeeds” suiteapps? They are both from Oracle. We are looking to automate the import of our bank data into the reconciliation process, and I’m not sure which of these tools is better or how they are different…
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Brian
02/28/2022, 8:41 PMThe BankFeeds Suite App uses a login/password combo (via technology called plaid) and not all banks support it.
Brian
02/28/2022, 8:42 PMABSI uses sftp, is more difficult to setup, but more secure. You'll have to work with your bank to get it configured
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Alex K
02/28/2022, 11:10 PMBank Feeds is pretty plug and play though the bank I have used it with most frequently (SVB) has often had issues with the connection. If your bank supports Bank Feeds I'd suggest turning it on and testing for yourself, else as Brian noted ABSI will take a real amount of setup (Bank setting up an SFTP, finding someone at the bank who understands wtf you are asking for, etc.)
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