Digital banking is now the default. 76% of global consumers use it in some form. If you’re building in fintech, you’ve probably felt the pain of scattered bank data, slow verifications, and way too much time spent on compliance.
It shouldn’t be this hard to access a user’s financial data.
That’s where account aggregators come in. They connect to multiple banks, consolidate everything into one place, and provide a clean, real-time view, allowing you to move faster and build smarter.
In this guide, we break down the best account aggregators of 2025. What they offer, where they shine, and how to pick the one that fits your stack.
What is an Account Aggregator?
An account aggregator is a platform that consolidates reliable data from multiple data sources into a single, easy-to-access interface, simplifying financial management. Originally, account aggregation began as a personal finance tool. However, as digital banking and fintech evolved, it became a critical technology powering a wide range of applications, including budgeting apps and advanced lending platforms.
Today, in the world of open finance (secure financial data sharing that drives transparency, innovation, and control), top account aggregators have taken on a central role. They enable users to share their financial data with third parties securely. This unlocks personalized services, enhances credit decisions, and accelerates onboarding processes.
Beyond open finance, financial aggregators are key to embedded finance. Businesses can offer loans, insurance, or payments as part of their services without having to build everything from scratch.
This flexibility in application is what makes account aggregators so powerful across different user groups.
- Consumers rely on it to manage all their money in one place
- Businesses use it to gather verified data analytics and create smarter, more efficient products
In both cases, account aggregators have become indispensable to today’s financial wellness.
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Why Account Aggregators Matter in the U.S. Market
Real-time financial information is no longer a luxury. Consumers expect instant updates on their banking and other financial accounts. Lenders and fintech companies rely on live data to make faster, more accurate decisions. 77% of organizations using real-time analytics report better financial performance. That’s a strong indication that timely data has a direct impact on business intelligence and success.
The U.S. landscape stands in sharp contrast to markets like India, where a unified RBI-backed framework guides account aggregation. Currently, the U.S. relies on private partnerships and a patchwork of APIs, a messy approach that introduces friction for fintechs and financial institutions alike. This may soon change as the Consumer Financial Protection Bureau prepares Section 1033 rules, but for now, companies are left navigating technical gaps, screen scraping, and inconsistencies across data providers.
Despite the fragmented landscape, adoption of the best account aggregators is growing fast. The technology supports a wide range of use cases:
- Wealth management firms use it to offer personalized investment advice.
- Lenders use it to assess creditworthiness using real-time income verification and expense data.
- Personal financial apps use it to give users a clear, unified view of their money.
- Fraud detection systems use it to identify unusual activity across accounts.
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Criteria to Evaluate an Account Aggregator
Choosing a reliable account aggregation provider is a crucial decision, particularly when developing products that rely on trust, speed, and data integrity. Here are the core criteria we look at when evaluating one:
1. Data coverage:
Must-have: Support for banking, credit cards, investment accounts, loans, and insurance accounts from a single platform.
What’s desirable: Tokenized connections instead of password or screen scraping for greater stability and security.
Red flags to avoid: Limited account coverage or reliance on brittle, unreliable methods to retrieve data.
2. Security and compliance standard alignment
Must-have: FDX compliance, SOC 2 Type II, and alignment with GDPR or other data protection frameworks.
What’s desirable: Security controls enforced by multi-layer authentication and data encryption.
Red flags to avoid: Solutions that cut corners on compliance or store credentials in plain text.
3. API performance and developer tools
Must-have: API uptime greater than 99.9% with low latency.
What’s desirable: Clear, up-to-date API documentation, SDKs, sandbox environments, and real-time data access and developer support.
Red flags to avoid: Rate-limited or unreliable APIs, poor documentation, and weak developer financial tools.
4. Consent management and transparency
Must-have: Clear, simple consent flows with granular controls (what’s shared, with whom, and for how long) and easy revocation.
What’s desirable: Transparent consent logs and notifications for users.
Red flags to avoid: Confusing consent UX, poor disclosure, or hard-to-revoke authorizations.
5. Pricing and scalability
Must-have: Transparent pricing with flexible plans that can grow alongside your business.
What’s desirable: Ability to handle growing data volumes without performance bottlenecks or dramatic price hikes.
Red flags to avoid: Fixed pricing models or restrictive plans that limit your ability to scale.
The Best Account Aggregators in the USA (2025)
Here’s a closer look at some top financial account aggregators leading the way in 2025.
1. MX (Best for high-performance financial APIs)
MX stands out as one of the top financial account aggregators by transforming messy financial inputs into standardized, enriched data sets. It’s a strong choice for financial institutions that need to uncover spending patterns, identify anomalies, and provide tailored financial products. API performance is a key differentiator, with high uptime (99.9%+) and low latency for real-time delivery, ensuring a smooth and reliable experience even under heavy workloads.
The developer experience is strong, with clear API documentation, SDKs, and sandbox environments that enable flexible and seamless integration. From a compliance standpoint, MX is enterprise-ready. It’s SOC 2 Type II certified and GLBA-compliant, reflecting its ability to handle sensitive financial data safely.
2. Plaid (Best for consumer finance application)
Plaid stands out in the list of best account aggregators by offering a secure and developer-friendly infrastructure that powers many of the most popular fintech apps in the US. Its APIs enable apps to connect to thousands of financial institutions, delivering real-time access for bank account verification, transaction histories, and identity verification data. This makes Plaid a strong choice for both new startups and established platforms.
One of Plaid’s biggest strengths lies in its deep integrations with fintechs and large financial institutions. It’s trusted by leading companies like Venmo, Robinhood, and SoFi, and it’s a key player for streamlining data sharing across banks and credit unions. Plaid is especially well-known for enabling a range of consumer-facing use cases, including banking, lending, and cryptocurrency applications.
The developer experience is strong, with clear API documentation, SDKs, and extensive resources that enable flexible and fast integration. From a compliance standpoint, Plaid maintains enterprise readiness with strong controls and routines for securing sensitive financial data.
3. Yodlee (Envestnet) (Best for wealth management insights)
Yodlee stands out by offering extensive data coverage and deep investment data capabilities. It goes beyond standard account aggregation by providing rich financial insights into investment portfolios, retirement accounts, and other asset classes. This makes it a strong choice for financial advisors, planners, and firms looking for a comprehensive view of financial health.
One of Yodlee’s biggest strengths lies in its enterprise-grade platform, designed for clients who need a scalable, customizable, and secure solution. It’s trusted by many top-tier banks, fintechs, and financial service providers to power financial dashboards, track net worth, and enable sophisticated financial planning.
4. Finicity (Best for loan underwriting)
Finicity stands out by focusing on financial data that helps lenders make faster and more accurate credit decisions. It lets lenders access real-time data for bank account verification and to verify assets, and employment, reducing manual paperwork and speeding up approval processes. This makes it a strong choice for mortgage and personal loan providers who need a clear view of a borrower’s financial health.
One of Finicity’s biggest strengths lies in its ability to streamline and enable a smooth underwriting process for financial institutions. It’s used by banks, fintechs, and other lenders to aid in making informed decisions.
The developer experience is strong, with extensive API documentation and enterprise support. From a compliance standpoint, Finicity maintains rigorous controls and industry-leading standards for data privacy and consumer protection, backed by Mastercard’s enterprise credibility.
Read more: The Ultimate Guide To Document Verification [2024]
5. Morningstar ByAllAccounts (Best for wealth management reporting)
Morningstar ByAllAccounts stands out by focusing on financial data for portfolio management and performance analysis. It pulls data from a wide range of financial institutions to provide a complete view of a client’s holdings. This makes it a strong choice for financial planners, Registered Investment Advisors (RIAs), and advisors who need accurate and up-to-date information to guide their clients’ decisions.
One of ByAllAccounts’ greatest strengths is its ability to streamline portfolio tracking and consolidate financial data in a single platform. It helps advisors produce clear, comprehensive reports and track financial performance over time. The platform’s developer experience includes extensive API documentation and reliable technical support.
6. Aqumulate, Akoya, and Others (Best for bank-friendly data access)
A growing group of newer players is reshaping financial data access with a bank-first, consent-centric approach. Akoya stands out for its strong focus on data privacy and consumer control. It follows FDX standards, making it easier for banks and credit unions to share data securely without resorting to screen scraping. This makes Akoya a strong choice for financial institutions looking for a compliant, bank-friendly solution.
Aqumulate and Akoya focus on delivering clean, standardized, and enriched financial data for enterprise-wide decision-making. From personal finance apps to enterprise platforms, their data helps drive smarter financial services.
Use Cases and Industry Adoption
Financial data aggregation tools are widely used across the fintech ecosystem, with 76% of consumers turning to digital or mobile banking apps to manage their money. This growing demand is reflected in the market’s trajectory. The global account aggregators market was valued at USD 1.2 billion in 2023 and is projected to reach USD 4.8 billion by 2033, signaling strong growth and increasing adoption.
The different financial data aggregation use cases include:
- Personal finance apps: Most consumers prefer managing their finances online or through a mobile app, with nearly three-quarters choosing digital over traditional methods. Among age groups, millennials show the strongest preference at 85%, while Gen Z comes in at 79%.
Personal finance apps use account aggregation tools to give users a clear view of their money. They pull data from multiple bank statements, credit cards, and loans to help consumers track spending, build budgets, and manage financial goals.
- WealthTech platforms: Wealth management tools depend on accurate and enriched data to track investments and assess client portfolios. Aggregation helps financial advisors and platforms offer personalized insights, monitor net worth, and create better financial plans with a complete picture of assets.
- Lenders and Buy Now, Pay Later (BNPL) providers: Lenders and BNPL providers use aggregated data for expedited decision-making. With real-time access to income, employment, and account history, they can speed up loan approvals, reduce risk, and offer a smoother borrower experience.
A real-world example is Qlarifi’s real-time BNPL credit bureau. Qlarifi collects and consolidates up-to-date credit activity from multiple BNPL providers into a single view. This lets lenders see a borrower’s most recent transactions as they happen, helping them make faster and more accurate decisions when assessing new applications.
- Digital banks and challenger FIs: Digital-first banks rely on accurate data aggregation to enhance user experiences. It powers smart account dashboards, helps automate savings and spending insights, and supports key features like instant account linking.
Read more: Streamlining Customer Onboarding: Real-World Use Cases of Digital Bank
Trends Shaping the Future of Financial Aggregation
Financial data is increasingly consumer-controlled and consent-centric, requiring a shift away from legacy methods. Token-based data access is replacing screen scraping, putting control back in consumers’ hands and strengthening data security. Fintech builders should enable consent flows and API-based exchanges instead of password sharing. Integrating with providers like HyperVerge or Finicity prepares your platform for these growing industry requirements.
Open finance is another major shift. Standardized APIs and collaborative frameworks are making it easier for banks and fintechs to share data securely. This means faster integrations, smoother user experiences, and less custom work. Platforms that adopt open standards will ship faster and scale better.
Lastly, privacy-first design isn’t optional anymore. With tighter regulations and more data-aware users, fintech products need to offer clear consent controls, data visibility, and easy opt-outs. It’s not just about compliance. This is how you earn user trust and stay ahead of the curve.
Our Takeaway: Matching Your Needs to the Right Provider
When choosing the best account aggregator, it’s important to match its strengths to your business needs. Each platform brings something unique to the table. Choose MX for clean data and powerful enrichment, Plaid for broad banking access, Finicity for lending flows, and Yodlee for investment data. Newer players like Akoya and Aqumulate are also bringing fresh innovation with open finance and bank-first models.
To make the best choice, align your aggregator selection with your product goals. Think about the use cases you want to support and prioritize factors like data quality, security, compliance, and ease of integration.
HyperVerge’s Account Aggregator platform offers a robust, compliant, and flexible solution designed for financial institutions and fintech companies that need accurate financial data with complete consumer consent.
Here’s why HyperVerge stands out as one of the best account aggregators:
- Secure financial information: Allows users to control what financial information they share and with whom, strengthening data dignity and consent.
- Consent capture: Capture explicit consent from users in a compliant manner, whether as a one-time authorization or periodic renewal.
- Account linking: Support linking of deposit accounts, insurance accounts, mutual funds, equities, and other financial instruments supported by the account aggregator ecosystem.
- 100% success rate: HyperVerge guarantees complete and accurate data delivery, ensuring financial institutions can make faster and more reliable decisions.
Book a demo today with HyperVerge to enable your financial institution to leverage account aggregation safely and efficiently.
Frequently Asked Questions (FAQs)
Which account aggregator is best?
The best account aggregator depends on your specific needs, such as data coverage, compliance, and use case. Leading options include Yodlee, MX, Plaid, and HyperVerge.
Can I switch aggregators later if needed?
Yes, you can switch aggregators, but it’s not always plug-and-play. Each aggregator has different APIs, data formats, and coverage, so switching may require development effort. To make future transitions easier, many teams build an abstraction layer over the aggregator, so the core product doesn’t depend on one provider’s setup.
How do financial data aggregators work?
Financial data aggregators connect to multiple banks and financial institutions (either through APIs or secure user credentials) to collect data like account balances, transactions, and identity details. They standardize this information into a consistent format so that businesses can access real-time, verified financial data from different sources through a single integration.
What is an example of an account aggregator?
HyperVerge Account Aggregator is a great example, offering secure and compliant financial data access for various use cases.
