Anyone have thoughts/recommendations on Bank Feeds...
# general
r
Anyone have thoughts/recommendations on Bank Feeds SuiteApp vs others? TIA
k
I like the Bank Feeds SuiteApp. It does exactly what it says it does, the config is pretty straightforward, and it gives a fair bit of customization for BAI2 codes, which not all methods do.
s
The Bank Feeds SuiteApp uses a 3rd party app called Yoddle to essentially login to your bank portal and scrape data from the user interface. It's pretty good for smaller businesses, but an SFTP integration with the bank is better long-term in my opinion. Bank Feeds is prone to authentication issues (it's just saving your username and password, which SHOULD change on a regular basis, and also has trouble if new 2FA codes are required every so often).
I don't have a ton of experience with this functionality, but it's what I've seen from the handful of clients I've worked with who use it. Currently implementing NetSuite with a team of folks, and they're having connectivity issues with BofA and the Bank Feeds SuiteApp.
m
Hey Ryan, Matt from FISPAN here! We’ve partnered with many US banks to provide direct API/SFTP connectivity for bank feeds and payables. As Stephen mentioned, the Bank Feeds SuiteApp uses screen scraping connectivity which is prone to breaking, so a direct connection with the bank will be more robust and secure. With FISPAN, you do not need to provide your bank login info to a third party (Yodlee) and FISPAN manages the connectivity so you do not need to deal with any authentication/connectivity issues. Below is a list of our partner banks: • Citizens Bank • City National Bank • Commerce Bank • J.P. Morgan • KeyBank • PNC Bank • Santander • Silicon Valley Bank • TD Bank • Wells Fargo If you’re interested in learning more about our solution, check out our site or send me a dm! Happy to help get you get set up with a demo of our product to see if it fits your needs.
c
I have friends that are wildly happy with FISPAN
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r
Hey @Matt Cavezza you connect to BOA?
m
Unfortunately we are not partnered with Bank of America at this time, however if you bank with any of the banks I mentioned above, you can leverage their multi-bank reporting service via SWIFT to bring external accounts into the solution to take advantage of the direct bank feeds that we offer.
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