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How Big Data and Open Banking Are Combining To Bring a New Era of Fintech-Driven Banking

Introduction

The rise of technology and digital services has led to increasing customer demands for simplicity and speed. Banks and financial services institutions are continuously searching for new ways to retain and attract customers while aiming to respond to heightened consumer demand for personalized services. For this reason, customer-centric offerings continue to dominate the financial technology (FinTech) landscape. 

Personalization takes advantage of real-time data and cutting-edge technologies to deliver product or service information to customers. In an extremely competitive financial services sector, there is more pressure than ever for FinTech companies to provide customers with a better experience. 

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QuickBooks vs TallyPrime

Overview

It's no secret that both QuickBooks and TallyPrime software are key dominant players in the Indian market. QuickBooks is a cloud-based accounting software from Intuit, with provisioning for Indian currency, Indian tax regulations, and automatic synchronization of QuickBooks accounting information with the Company’s bank transaction information. The best thing is its UI which is way better and is a monthly payment software, making it more convenient for SMEs. Tally Prime, on the other hand, is basically a one-time payment software and is especially for the Indian market, keeping in mind that the Indian enterprise-level organizations need a regulatory regime.

Evolution

QuickBooks was founded in 1983, and it has slowly but steadily climbed the ranks in order to become the giant it is today. Although it was founded in 1983, it took about 19 years to release the first version of QuickBooks. But, after the QuickBooks release, it went through a lot of changes and is still changing to this day; its software has evolved, adding more features and functionality. QuickBooks, at present, is available on a wider international scale throughout the globe. Tally, on the other hand, released its new version TallyPrime, which empowers business owners to be more efficient. Like QuickBooks, Tally has also gone through a lot of changes for the past 30 years, and at present, their newest version TallyPrime is on the Indian market.