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Standard Operating Procedure for Xero Business Disclosure Flow

Objective

This SOP outlines the steps for completing the business disclosure flow using Xero as the FinTech customer, ensuring a smooth data access process for users.

Key Steps

1. Connect Your Account 0:00

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  • Inform customers that data access for Xero is powered by SIF.

  • Provide key information about data collection for users to read at their leisure.

  • Explain the steps: verify business details, approve data access permissions, select financial provider, and confirm choices.

2. Verify Email Address 2:11

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  • Notify users that a verification email has been sent to the displayed email address.

  • Allow users to change the email if necessary by clicking 'use a different email'.

  • Instruct users to check their mailbox for the verification code and enter it.

3. Confirm Business Data Sharing 2:49

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  • Display the company name and ABN for confirmation.

  • Instruct users to click 'yes, continue' if the information is correct, or change the ABN and company if incorrect.

4. Review Permissions 3:29

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  • Present the review permission screen detailing the data access for 12 months.

  • Explain the different data sections available for review (bank statement data, access period, data handling).

  • Instruct users to click 'Agree' after reviewing.

5. Connect to Bank 5:08

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  • Direct users to connect to their bank from the list of participating financial institutions.

  • Simulate the bank's data sharing page where users will enter their ID (email, phone number, or customer reference number).

6. Enter One-Time Password 6:10

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  • Inform users that a one-time password (OTP) will be sent to their mobile or email.

  • Instruct users to enter the OTP received and click 'continue'.

7. Select Accounts for Data Sharing 6:45

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  • Present the available accounts for data sharing.

  • Allow users to select which accounts they wish to share and click 'continue'.

8. Connect Additional Bank Accounts (if needed) 7:30

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  • Provide an option to connect additional bank accounts if desired.

  • Repeat the process of entering ID and OTP for each additional bank.

9. Completion of Data Sharing Process 8:37

  • Notify users that they can click 'done' once they have finished connecting accounts.

  • Confirm that data will now be available in Xero for the accounts shared.

Cautionary Notes

  • Ensure users understand that they are agreeing to terms and conditions by continuing.

  • Remind users to keep their verification codes secure and not share them with others.

Tips for Efficiency

  • Encourage users to have their mobile device handy for receiving OTPs.

  • Suggest users review all permissions carefully to avoid any data sharing errors.

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