Ahmedabad: Tally Solutions today announced the launch of their new endeavor to strengthen the adoption of the Account Aggregator (AA) framework in the state of Gujarat. The company aims to assist over 18L MSMEs in the region.

The AA framework was launched by the Reserve Bank of India in the year 2016 to boost the open-banking ecosystem. Aligned with this, Tally launched its subsidiary, Tally Account Aggregator Services Pvt Ltd, with its product TallyEdge allowing users to consolidate all their financial information from various financial entities in one place; with the capability to view or share that information securely, in real-time and only with their consent. TallyEdge provides users with comprehensive control over their data, allowing them to approve, reject, pause, or revoke any data-sharing requests.

“Gujarat has emerged as a hotspot for global investments and industrial growth. However, credit gap and debt demand in the region stand at 14 Lakh Crores and 1.81 lakh Crore respectively. Tally is aiming to bridge this gap through the account aggregator syndication. TallyEdge will not only strengthen the AA ecosystem, but also help more MSMEs reach their growth aspirations,” the company said.

According to Vikas Shetty, General Manager – Financial Services, Tally Solutions, “As a key player in the Business Management Software (BMS) sector, we currently hold a 75% market share in the country and Gujarat plays a significant role in it. With TallyEdge, our goal is to further extend our support to MSMEs facing challenges in accessing formal lending. In Ahmedabad, we are set to organize a series of awareness sessions in partnership with our allies and industry bodies in the coming months to promote an in-depth understanding of the AA framework and its potential for businesses.”

The company further states that TallyEdge will extend secure digital data access and consent-based data sharing with financial institutions, making the lending process easy. The brand looks forward to partnering with large financial institutions to extend its reach. Through these efforts, Tally aims to make a contribution to facilitating the formal lending journey of MSMEs.