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The IPA has announced a strategic partnership with a financial software company in a bid to help accountants implement technology into their practices to improve efficiency.
The partnership with myprosperity, a relatively new addition to the fintech scene, will help automate data feeds from various providers to provide information about clients’ bank accounts, credit cards, home loans, real estate, insurances and superannuation.
“In a digitally-driven financial market, myprosperity helps accountants thrive by providing up-to-date data, so they can get a real-time snapshot of their clients’ finances and provide informed advice,” myprosperity chief executive Chris Ridd said.
“I think getting this data is something accountants struggle with and myprosperity is an elegant solution to this problem,” Mr Ridd said.
The portal also boasts functionality advantageous to accountants, including digital document signing, lead generation, uploading documents and receipts, and tagging tax items.
IPA chief executive Andrew Conway welcomed the partnership, saying, “Having seen myprosperity in detail, I am convinced that it can power the transformation of the client/public accountant relationship.”
“The ability to provide real-time, bespoke information to clients on their personal financial position will greatly assist informed decisions and a much deeper relationship between public accountants and their clients.”