Well behind on the posting sorry! But Xero announced it’s move into Personal finance and is launching to market early 2010 with Xero Personal. Xero have been working away on Xero Personal for sometime no doubt, and announced they will be working initially in partnership with the BNZ before going out to the rest of New Zealand at some point in the future, then beyond.
The rest of the world aside, as a country powered by small businesses, New Zealand alone has over 400,000 business owners, and depending on what numbers you get, around three quarters of these are sole traders - 1 man bands or couples. To many of these people, the family money and budget are based around the business, and all financial decisions in either business or personal completely effect each other.
So along side the massive and increasing opportunities in personal finance, Xero is stepping into a very strategic position with small business owners and will be able to capture these people as customers through either their business or personal finances, then convert them into a customer on the other… a well oiled machine…
For a quick video teaser of Xero Personal
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