October 12, 2015
[Press Release] October 7th, 2015 in San Francisco Enterprise Engineering, Inc. (EEI) announced the launch of its Trusted Network Platform – an advanced data aggregation and management platform, consisting of a core engine and a robust API. EEI, with partners Xero and Square 1 Bank, publicly unveiled the new platform via an onstage demo at FinDEVr 2015.
Financial institutions need a fast and secure way of providing their clients with a single, customized view of all their financial data. Arthur Wasson, SVP, Global Treasury Management said, "At Square 1, our goal is to empower our clients to interact with us in ways that are intuitive to them – whether it's online through their desktops or mobile devices, through 3rd party applications such as Xero, or via direct connections. EEI's Trusted Network solution offers a platform upon which we can achieve this goal." Providing access and maintaining privacy of a client's data has always been a challenge. Now, with the EEI Trusted Network, you can deliver a single, secure, holistic view of all client assets, even those held away.
- EEI has created an advanced aggregation platform that delivers real-time information and is hosted in a secure cloud environment.
- EEI's Trusted Network supports the best authentication mechanism by utilizing OAuth 2.0 - the de facto industry standard for user authentication.
- The Trusted Network provides direct connect mechanisms to obtain data and does not rely on the more expensive and flawed method of screen scraping.
- The Trusted Network Platform communicates with any financial institution using industry standard messaging formats and implements business rules to enhance the information.
EEI's Trusted Network exceeds client expectations by intelligently aggregating data, and enabling banks to connect to advanced platforms such as Xero, while fiercely protecting the privacy of the data. The Trusted Network powers an unparalleled client experience along with digital intelligence for the enterprise through an intelligent, secure and flexible platform.
"Reconciliation of bank statements in Xero is vitally important to ensuring accuracy of financial statements," said Dinesh Katyal, Director of Product, U.S. Banking Services at Xero. "EEI's Trusted Network enables Xero to securely and reliably import statements directly from the banks, thus avoiding costly errors and saving our customers time and money."
About Enterprise Engineering, Inc. (EEI)
EEI works with financial institutions and developers to securely and reliably connect people to their money through any channel they might care to use. EEI`s software products facilitate data access, aggregation and transaction processing and, are trusted by many of the world's largest financial institutions. The company's software products integrate with Personal Financial Management tools, SMB Accounting software, tax packages, and expense management applications (i.e. Xero, QuickBooks®, TurboTax®, H&R Block Tax Software, Mint, and Expensify). Recently EEI was named "Best Financial Services Technology Solutions" & "Best E-commerce Infrastructure & Systems Integration Firm" by Wealth & Finance Magazine. For more information, visit.
About Square 1 Bank
Square 1 Bank, a division of Pacific Western Bank, is a full-service financial services partner to entrepreneurs and their investors. Founded in 2005 by a group of seasoned venture bankers, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. For more information, visit.
About Xero, Inc.
Xero is beautiful, easy-to-use online accounting software for small businesses and their advisors. The company has over 540,000 subscribers in more than 180 countries. Xero seamlessly integrates with over 400 third-party tools, and was ranked No.1 by Forbes as the World's Most Innovative Growth Company in 2014 and 2015. For more information, visit.