iscoverIntuit has gained accreditation under the government’s Open Banking initiative, enabling it to provide its users with better access to real-time transaction data.
Intuit QuickBooks launches Open Banking initiative
04 November 2025
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7 minute read
On Friday (31 October), Intuit Australia announced it had gained Accredited Data Recipient (ADR) status under the government’s Open Banking initiative, enabling its customers to securely direct the sharing of their data with any third party they choose.
Intuit said the initiative would provide its users with immediate access to accurate, up-to-date transaction information and lay the groundwork for the platform’s broader AI transition.
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“By leveraging the power of Open Banking’s accurate, real-time client financial data, Intuit is creating the essential data foundation for its AI driven expert platform to revolutionise the way businesses and accountants operate,” Suzy Nicoletti, regional vice president of Intuit APAC, said.
“Soon, Intuit QuickBooks will launch agentic AI to automate transaction categorisation and unlock predictive forecasting and smarter budgeting. This empowers businesses and accountants to virtually eliminate manual tasks, gain immediate insights, and deliver strategic advice while retaining full control over data validation.”
Intuit’s launch of its Open Banking system makes it the first cloud accounting software provider to be accredited by the ACCC as an ADR. The firm said the initiative would empower users to use their own data to discover better-suited products and services, boosting competition and innovation.
Open Banking would also provide businesses with greater access to centralised, real-time financial data, enabling them to more precisely track and forecast their cash flow, Intuit said.
Access to comprehensive data, including bank, credit card and loan balances, would allow accountants and business owners to analyse trends and deliver more informed financial decisions, according to the firm.
The technology platform said that the update would enable users to make timely decisions based on accurate financial information and free up accountants’ time to focus on higher-value advisory work.
As an unrestricted ADR, Intuit noted it would be subject to stringent, ongoing compliance obligations monitored by the ACCC to maintain its accreditation. The shift to Open Banking would also minimise data security risks, including password sharing and screen scraping, boosting security standards.
“Over the past six years, Intuit has worked closely with the Treasury, various regulators like the ACCC and OAIC, as well as industry bodies to shape the infrastructure, policies and innovations needed to make Open Banking a reality,” Nicoletti said.
“This milestone empowers businesses and advisors to shift their focus from administrative tasks to drive growth and thrive in today’s competitive environment.”
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