Account Aggregator

What is an Account Aggregator

• Account Aggregator (AA) is an entity regulated by RBI 
• AA facilitates sharing customers’ financial data between financial service providers, with the consent of the customer 
• AA does not store any customer data; it only passes data from one financial service provider to another
• The whole process happens digitally and instantly 

How does the AA network work

• You register with an AA through their app or website
• Choose the account or accounts you want to link 
• When you apply for a loan, the AA seeks your consent to share information using an OTP
• You select from which account data should be shared and the period for which the data should be shared
• Once the bank receives your data, it does the appraisal and decides on your loan application
• You can revoke the consent anytime you choose

Benefits of the AA network

• The customer decides which data want to share, with whom to share and for how long to share 
• The entire process is digital and instant
• No storing of customer data with the AA, thereby making the whole system secure
• No need to physically upload account statements when applying for a loan or giving the bank access to your entire bank account 

Open Access Blog

Control the data you share when applying for loans online

Frequently Asked Questions