At Lodge Pro, we prioritize simplicity and accuracy in tax filing, and our Open Banking Integration plays a crucial role in achieving this. By securely linking your bank accounts through Open Banking, we automatically retrieve your transaction data, so you can focus on what matters most getting your tax return filed quickly and accurately.

How Open Banking Works with Lodge Pro

1. Link Your Bank Accounts 
   Using our Open Banking integration, you can securely connect your bank accounts to Lodge Pro. This allows us to retrieve your transaction data from your accounts in real-time, ensuring you have all the financial information you need for your tax return.
   • Step 1: During the tax filing process, you’ll be prompted to securely link your bank account through Open Banking.
   • Step 2: Once authorized, Open Banking will pull relevant transactions from your accounts for the financial year.
2. Real-Time Data Retrieval
   Once your account is linked, Lodge Pro retrieves your transactional data in real-time through Open Banking integration. This ensures that no transaction is overlooked, and you don’t have to manually enter any data.
3. Streamlined Tax Filing with AI
   After retrieving your transaction data, Lodge Pro’s system begins categorizing it for tax purposes, leveraging AI-powered classification to sort expenses and income into the appropriate tax deduction categories.

Related Feature: Learn more about our AI Classification on Expenses and how it optimizes your deductions.

Key Benefits of Open Banking with Lodge Pro

Security and Privacy

While the focus here is on Open Banking, it’s important to note that we operate under strict security protocols, ensuring your data is protected. All data retrieved through our platform is encrypted and securely stored on Australian servers, complying with Australian financial regulations. For more information on how we keep your data safe, visit our Data Protection & Security page.

Step-by-Step: Using Open Banking with Lodge Pro

Step 1: Link your bank accounts.
At the start of your tax filing process, Lodge Pro will prompt you to securely connect your bank accounts using our Open Banking integration.

Step 2: Authorize the retrieval of your financial data
After linking your account, you’ll authorize the retrieval of your financial data. This ensures that Lodge Pro can automatically pull in all relevant transactions for your tax return.

Step 3: Automatically retrieve and categorize your transactions.
Lodge Pro will use the retrieved data to categorize your transactions into income and deductible expenses using AI classification, ensuring that you’re maximizing your deductions and filing accurately.

Why Choose Lodge Pro’s Open Banking Integration?

• Accuracy: With real-time access to your financial data, you’ll never miss a transaction or deduction.
• Simplicity: Link your bank accounts once, and Lodge Pro handles the rest—retrieving and categorizing your financial data automatically.
• Control: You can review, approve, or edit your transactions before filing, giving you complete transparency over your tax return.
• Security: Lodge Pro uses industry-leading encryption and security measures to ensure your data is always protected. 

The Future of Tax Filing with Lodge Pro

By integrating an Open Banking system, Lodge Pro automates one of the most tedious parts of tax filing—manually entering your transactions. Our system pulls all your financial data from your bank accounts and uses AI to categorize those transactions into tax deduction labels. This combination of Open Banking and AI technology means you can file your taxes more quickly, accurately, and confidently than ever before.

Getting Started with Lodge Pro’s Open Banking

Ready to experience seamless tax filing? Get started with Lodge Pro today and link your bank accounts securely through our Open Banking integration for a faster, more accurate tax filing process.