An Account Aggregator is a regulated financial entity that securely collects and shares a user’s financial data—such as bank accounts, loans, and investments—with consent, to help access better financial services.
An Account Aggregator (AA) is part of India’s digital financial ecosystem designed to give users full control over their financial data. Instead of submitting physical documents or PDFs, users can digitally share verified financial information with banks, lenders, or fintech companies through a secure and consent-based system.
Account Aggregators do not store or use customer data. They only act as a bridge between financial institutions and users. Data sharing happens only after explicit user approval and is encrypted to ensure privacy and security.
This system helps speed up loan approvals, improves credit assessment, reduces paperwork, and enables personalized financial products. Account Aggregators are regulated by the Reserve Bank of India (RBI) to ensure safety and transparency.
"If a customer applies for a personal loan, they can use an Account Aggregator to instantly share bank statements and income details with the lender, eliminating the need to upload documents manually."