By Katie Hawking FMAAT, Director of Group Operations, TaxAssist Accountants
Katie leads strategic initiatives that support the growth and development of the TaxAssist Accountants network. Drawing on experience in accountancy practice and accounting technology, she works closely with franchisees to help them embrace innovation, improve client service and build stronger, future-ready practices.
For accountants, the question is no longer whether technology will change the profession. It already has.
The real question is how practices can use these developments to deliver greater value to clients while protecting the trusted adviser relationship that has always sat at the heart of accountancy.
At TaxAssist Accountants, we believe embedded fintech represents one of the biggest opportunities the profession has seen in years - provided accountants remain at the centre of the client journey.
What is embedded fintech?
Embedded fintech describes the growing trend of financial services being built directly into software and digital platforms that businesses already use every day.
Rather than logging into separate systems, business owners can increasingly access banking, bookkeeping, invoicing, payments, lending and cashflow tools through one connected platform. Many banks are now offering accounting functionality alongside business current accounts, while accounting software providers continue to expand into financial services.
For small business owners, this creates a simpler, more connected experience. For accountants, it raises an important question. As technology becomes more integrated, what role will the accountant play?
Technology is changing the way accountants work – not why clients need them
There is understandable concern that embedded fintech could encourage more businesses to manage their own finances without professional support. In reality, I don't believe that's where the profession is heading.
Technology has always changed how accountants work. Cloud accounting, automated bank feeds, digital record keeping and electronic tax submissions have all reduced manual administration. Embedded fintech is simply the next stage in that evolution. The routine processing of financial data will continue to become faster, more accurate and increasingly automated. But clients rarely seek professional advice because they struggle to enter transactions. They seek advice because they need someone to interpret the information, understand the wider implications and help them make informed decisions. Technology processes transactions. Accountants provide judgement. As legislation becomes more complex and business owners face increasingly challenging commercial decisions, that judgement becomes even more valuable.
Making Tax Digital is accelerating change
Making Tax Digital has fundamentally changed expectations around record keeping. Quarterly submissions, digital record keeping and connected software mean businesses can no longer rely on manual processes in the way they once did.
At the same time, modern accounting platforms increasingly rely on automated bank feeds to keep financial records accurate and up to date. This is changing the role of business banking.
Rather than simply holding money, digital business bank accounts are becoming an important part of the accounting ecosystem, providing real-time financial information that supports bookkeeping, tax compliance and business decision-making.
For accountants, access to timely and accurate data creates opportunities to provide more proactive advice throughout the year instead of focusing solely on year-end compliance.
Better data creates better conversations
One of the greatest benefits of embedded fintech isn't automation, it's access to better information. When bookkeeping happens in real time, accountants gain greater visibility of how clients' businesses are performing throughout the year.
That creates opportunities to have more meaningful conversations about:
- Cashflow
- Tax planning
- Profitability
- Business investment
- Funding requirements
- Financial resilience
Rather than spending valuable time chasing records or correcting errors, accountants can focus on helping clients make better decisions while there is still time to influence the outcome. This is where technology and professional advice complement one another.
How TaxAssist is embracing embedded fintech
At TaxAssist Accountants, we believe our role is not simply to keep pace with technological change but to help our franchisees stay ahead of it. As client expectations evolve, we continue to assess emerging technologies and develop strategic partnerships that strengthen the support available across our network.
One example is our partnership with Tide, which enables franchisees to introduce clients to a modern digital business banking solution alongside the accountancy and advisory services they already provide.
Our client research highlights why this is important. A recent TaxAssist client survey found that almost one third of respondents said they would consider opening a business current account if it were recommended by their accountant. That demonstrates the level of trust clients place in professional advice and highlights an opportunity for accountants to help clients adopt better financial tools with confidence.
Many small businesses continue to operate using personal bank accounts, creating unnecessary compliance risks and making financial record keeping more difficult. By helping clients move to digital business banking solutions that integrate with modern accounting software, accountants can improve data quality, simplify bookkeeping and support Making Tax Digital compliance while strengthening long-term client relationships.
The accountant remains at the centre of the relationship
Some commentators have questioned whether banks and software providers are beginning to compete directly with accountants. I see it differently. Banks are experts in banking. Software providers build excellent technology.
Accountants combine financial expertise with commercial understanding, tax knowledge and personal relationships. Each has an important role to play. The greatest opportunity lies in collaboration rather than competition.
When financial data flows more efficiently between clients, banks and accountants, everyone benefits. Business owners receive quicker insights and accountants spend less time on administration. Advice becomes more timely and client relationships become stronger.
Preparing practices for the future
Running a successful accounting practice has never simply been about completing accounts or submitting tax returns. Increasingly, clients expect their accountant to help them improve efficiency, adopt new technology and make informed business decisions and that expectation will only continue to grow.
For practice owners, embracing embedded fintech isn't about replacing traditional services. It's about enhancing them. Those who understand how these technologies work will be better placed to advise clients, strengthen relationships and differentiate their practices in an increasingly competitive market.
Building future-ready accounting practices
At TaxAssist Accountants, helping our franchisees build modern, resilient practices means continually investing in technology, training and strategic partnerships that add genuine value.
Alongside our partnerships with leading accounting software providers, we've introduced services such as TaxAssist Plus Financial Planning, expanded specialist advisory support and, through our partnership with Tide, are giving franchisees another way to help clients embrace smarter digital financial management.
Our role is to evaluate new technologies, understand where they genuinely benefit accountants and ensure our network has the knowledge, systems and support needed to use them effectively.
The future of accountancy won't be defined by technology alone. It will be shaped by accountants who combine innovation with trusted advice, using digital tools to deliver deeper insights, stronger client relationships and greater value than ever before.
Technology will continue to evolve, but trust, judgement and human expertise remain the qualities that clients value most.
