Accounting fintech TaxLeopard pounces on open banking data feeds powered by Envestnet | Yodlee
Melbourne-based accounting fintech TaxLeopard is turning on open banking data feeds to enhance its one-stop bookkeeping software and tax app that is designed for self-employed people like tradespersons, freelancers, contractors and gig economy workers.
A key feature of the TaxLeopard app is its full end-to-end service, including bookkeeping and invoicing, as well as everything administratively necessary for tax compliance such as ABN & GST registration, car logbook, BAS lodgment and income tax returns.
Importantly, the software preserves choice of bank account provider for the self-employed person, as open banking allows it to integrate with any Australian bank account to capture income and expenses.
Selda Kaplan, Co-Founder & CEO at TaxLeopard, said, “TaxLeopard was born from firsthand experiences and mutual dissatisfaction with the lack of choice in the market. For a long time, the only option for a self-employed worker was to spend money for a traditional accounting service or spend some of their precious spare time to do the books and tax returns themselves. Our app changes all that. With open banking, we can track and categorise income and expenses directly from bank transactions.”
The TaxLeopard app has been designed by CPA qualified accountants to be a virtual CFO solution and the company is also a registered tax agent. By combining advanced technology, live data integration and expert knowledge, the fintech startup’s mission is to foster the success of Australia’s sole traders and help to grow the gig economy.
Michael Kambouridis, Co-Founder & COO at TaxLeopard, said, “In the current environment, more and more people are turning to side hustles to supplement their income. Our app makes it super easy to stay on top of the financial implications and tax obligations that come with those endeavours, without having to change your bank account or pay expensive fees. By using open banking, combined with our automation and AI-enabled features, TaxLeopard is improving the quality and speed of our services, while keeping fees low.”
TaxLeopard will become a CDR Representative of Envestnet®| Yodlee® and access bank transaction data available via Australia’s Consumer Data Right (CDR) to power its cross-platform solution that works on any device. Envestnet | Yodlee is an active and unrestricted Accredited Data Recipient authorised by the Australian Competition and Consumer Commission to provide access to open banking data.
Taner Uzelakcil, Director of Business Development A/NZ at Envestnet | Yodlee, said: “We’re seeing growing knowledge of, and demand for, open banking enabled solutions in the areas of accounting, bookkeeping and tax. It’s exciting to see how bank data feeds can support the gig economy and reduce financial stress by helping self-employed Australians to stay on top of their financial admin.”
TaxLeopard launched in 2022 and has partnered with several leading gig economy brands such as Doordash, DiDi and fiverr.
