Business News

Class boosts international asset capability

Class has added the ability to process information pertaining to international assets through incorporating direct-connected data feeds from HSBC in its SMSF administration software application.

The latest data feed inclusions will provide information from HSBC savings, transaction and term deposit accounts.

The automated data to be received from HSBC includes that from transaction offerings where customers can hold up to 10 different currencies in the one account with access to foreign exchange trading and real-time currency conversion.

The HSBC agreement adds to Class’s ability to process international asset dealings, having already provided clients with fully automated general ledger accounting for international shares.

Commenting on the announcement, Class chief executive Kevin Bungard said: “The need for accountants to support SMSFs investing internationally is a continuing trend.

“HSBC’s offering is a great example of the products that SMSF trustees are taking up and Class is thrilled to add them to our data feeds list.”

HSBC head of wealth Scott Ellis said the bank was pleased to be able to provide a simple foreign exchange account solution for accountants and SMSF clients in conjunction with Class.

Banks, share brokers and wrap accounts now provide Class with over 180 audited direct-connect data feeds. The audit function provides SMSF auditors with an ASAE3402 certificate.

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