NetSuite 2020.1 Release Drives Intelligent Cash Management with Bank Connectivity
Access to real-time cash balances allows companies to drive intelligent cash management. In the NetSuite 2020.1 release, this is provided via two methods. These methods allow companies to link their bank and credit card accounts and automatically import transactions and account balances from financial institutions into their NetSuite account.
The first method that is to be made available only to North American companies is the Bank Feeds SuiteApp. This SuiteApp will enable companies to reap the benefits above via a bundled solution.
As an alternative, NetSuite has also introduced the Bank Connectivity API. This would then allow companies outside of North America to build their own solution for the import of financial transactions and connectivity to any bank.
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