DBS Bank and Tally Offer GST-enabled Connected Banking Solution for SMEs

DBS Bank India and Tally Solutions have entered into a partnership to launch a first-of-its-kind connected banking platform, to enable convenient GST payments and accounting processes for SMEs.

The connected banking solution, available to DBS Bank’s SME customers on the GST-ready version of Tally, allows seamless management of GST and supplier payments entirely within the ERP. This gives Tally users the opportunity to go digital, without migrating from their preferred platform.

With a single login, SMEs can make payments, track payment transaction status and automatically send payment receipts, along with suppliers’ invoice details.

Niraj Mittal, MD and head of Institutional Banking at DBS Bank India, said: “For the first time, Tally users have the opportunity to digitize their tax payment and accounting processes. Our connected banking solution will ease their transition to the new tax regime and bring substantial savings in terms of time and effort.

"This innovation is a testament to our continuous efforts to simplify banking for the consumer. Given Tally’s leadership position in the ERP software market, this partnership will help us better serve our existing customer base and continue our aggressive growth in the SME market.”