Tally Solutions’ account aggregator subsidiary TallyEdge gets RBI nod

Tally Solutions has launched its subsidiary, Tally Account Aggregator Services Pvt. Ltd. with its product TallyEdge. TallyEdge aims to work closely with Banks and NBFCs, which are also called Financial Information Users (FIUs) and Financial Information Providers (FIPs); to help create easy access to lending ecosystem and other financial services for millions of Indians. 

TallyEdge allows users to effortlessly consolidate all their financial information from various financial entities at one place, with a capability to view or share that information securely, in real-time and only with their consent. 

TallyEdge, operating under the framework of an NBFC-AA license, ensures 100% secure digital data access, and consent-based data sharing with financial institutions. And its end-to-end data encryptions and digital signatures completely eliminate the scope of any vulnerability. With TallyEdge, users also have complete control over their data flow, where they can easily approve/reject/pause/revoke any data sharing requests, as per their preference.  

Commenting on this announcement, Tejas Goenka, Managing Director, Tally Solutions, said,
“At Tally, we have been working on our Account Aggregator solution TallyEdge, with the underlying premise of making users the master of their data. We have taken special care to ensure that user’s data is 100% safe with TallyEdge, with no capability for us to read or store user’s data at any point. We are also collaborating with FIUs, in discovering new customer segments, product experiences and financial products for MSMEs and Individuals. 

Tally’s leadership position within the MSME ecosystem in the Business Management software category is a testament to the trust and brand loyalty of MSMEs. With the growing AA network, Tally’s foray is expected to play a critical role in building and expanding this ecosystem further.”  

TallyEdge plans to partner and work closely with Banks, NBFCs, GSTN, insurance companies, payment banks, and others. This is with an aim to ensure that Indian MSMEs and individuals can effortlessly consolidate and share, upon-consent, their financial information with financial institutions, in the simplest, smartest, and most secure manner.