"Xero is winning globally, but we are still seen as small in the US," he said.
Wells Fargo head of digital virtual channels Brett Pitts said Xero was the first technology company to join its "data sharing journey".
"In an era of increasing concern about the security of electronic financial data, it is time to move towards more secure and more reliable data exchange methods," Pitts said.
"As a result of this agreement, we're creating a much better experience for our small-business customers, who will benefit considerably from the improved process that comes out of this innovative agreement."
Xero first began expanding in to the United States two years ago. Since then it has signed deals with a number of companies including Apple, Google, Silicon Valley Bank, City National Bank, Paypal and Stripe.
It has recently surpassed 700,000 subscribers in more than 180 countries worldwide.
Drury said the company had been using New Zealand and Australia as a "test lab", and hopes the signing of this deal will enable other large-scale opportunities to follow.
