Fetch digitally signed, tamper-proof financial statements easily
Enable users to have more control over what personal or financial Information they want to share and who they want to share it with
Capture explicit one time or periodic consent of the user to access financial information in a compliant manner
Support linking of deposit accounts, insurance accounts, mutual funds accounts and equities accounts and other financial information types supported by AA ecosystem
High Drop-offs
High drop-off rates in Net Banking based statement fetch flows
Privacy-Conscious
Conscious consumers who are wary of data being collected during acquisition flows
Fraudulent Activities
Sophisticated document tampering and fraud attempts lead to bad quality activations
| Income Proof Validation during F&O onboarding |
| Loan monitoring for early warning signals and reducing non-performing assets/loan defaults |
| Income estimation of policy holder to offer discounts on insurance premiums | Avoiding fraud and increasing transparency during policy information declaration by the customer |
| Tracking finances, creating financial plans and achieving financial goals |
Minimise manual efforts, optimise conversions
Analytics dashboard for identifying points of drop-off
Plug-and-play module for easy integration
Foolproof system with digital signatures of banks and FIPs
What is an Account Aggregator, and how does it work?
An Account Aggregator (AA) is a regulated entity authorized by the Reserve Bank of India (RBI) that facilitates the seamless sharing of financial information between various financial institutions. It acts as an intermediary between users and financial institutions, allowing individuals to securely access and share their financial data with consent. The process involves the Account Aggregator obtaining data from different financial institutions (known as Financial Information Providers or FIPs) where the user holds accounts, consolidating this data, and then presenting it to the user or authorized third parties upon their request.
Who can benefit from using Account Aggregator services?
Account Aggregator services cater to a wide range of stakeholders within the financial ecosystem. These include individuals, financial institutions, personal finance management apps, wealth managers, insurance providers, and more. Individuals benefit by gaining greater control over their financial data, allowing them to make informed decisions and access personalized financial services. Financial institutions can leverage Account Aggregators to streamline customer onboarding, reduce friction, and enhance the efficiency of their services.
What are the key features and advantages of using an Account Aggregator?
Account Aggregators offer several key features and advantages, including:
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