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Account Aggregator

With the introduction of Account Aggregator, the customer can digitally access his financial documents & do away with the hassles of sharing physical financial documents viz bank statements, Mutual fund statements, GST etc.


What is an Account Aggregator?

  • Account Aggregator (AA) is an RBI regulated entity

  • AA facilitates sharing customer's financial data between financial service providers, with consent of the customer

  • The terms and purpose of the data sharing are displayed to the customer prior to data sharing

  • The entire process of data sharing is digital and takes place in near real-time


How does the AA network work?

The following will help you gain a better understanding of how AA works

  • Register with an AA through their app or website
  • Choose the bank account or the accounts you want to link
  • You will be shown the period for which the data should be shared & your consent is taken to share the information
  • Once the bank receives your data (with your consent), it does the appraisal and decides on your loan application


Key Benefits of Account Aggregator?

  • Customer has authority to decide which data to share, with whom to share and how long to share
  • The end-to-end process is digital, safe & instant
  • No storing of customer information with AA, thereby making the whole system secure
  • Improved Turn-around-time (TAT) - As the data is shared digitally in secured manner, it reduces the processing time of your application significantly


Terms of Use as an AA ecosystem participant:

As an FIP

  • To share financial information strictly upon receiving consent from the customer


As an FIU

  • To ensure that any data received from FIPs through an AA is only used for purpose mentioned to the customer while taking their consent



  • To review the details of all requests that they get from FIU’s
  • Customers can choose which accounts they want to link, and share their data at the time of giving ‘consent’ via one of the AA
  • Only provide their consent after having fully verified the details
  • Notify the AA immediately upon becoming aware of unauthorized access or usage of their accounts, if any


Frequently Asked Questions

Currently, there is no fee.

No, registering with one AA is enough. You are, however, free to register with as many Account Aggregators depending on your need.

The customer data is not stored with AA. It continues to remain with your respective bank. AA simply facilitates digital data sharing between two financial institutions.

Yes, AAs are RBI regulated entities.