Shares in online accounting software company Xero rose 5c to $1.65 today after the company said it had reached an agreement with a US based company called Yodlee that will improve automatic feeds of bank accounts into Xero's products.

Yodlee's software development kit can be used to extend automated daily bank account feeds to Xero's online accounting products. This will give customers access to more than 11,000 financial institutions and account sources, including 100 throughout Australia.

The service will be released in the middle of this year to Xero Business customers.

Xero already has automated daily bank feeds with the National Australia Bank, ANZ and Commonwealth Bank in Australia, all the major New Zealand banks and with HSBC in the UK.

The agreement with Yodlee extends the availability of daily account feeds in Australia, the UK and other key regions such as North America.