Xero has extended its global footprint into Asia with agreements with two major banks that chief executive Rod Drury says will make it much easier for Australasian businesses to export into the region. The Wellington-based cloud accounting software developer this week signed deals with Hong Kong Shanghai Banking Corp and the Development Bank of Singapore to bring the Asian lenders into Xero's expanding "financial web". Drury says the new Asian bank agreements give Xero a lead on its competitors. "It's the emergence of global platforms, not just software, but networks of companies using it," Drury said from Singapore. "Since the TPPA [stalled], we've got a lot of people thinking about how they really need to get into Asia."

Source: New Zealand Herald March 10, 2017 16:01 UTC