Account Aggregator

Also called Account Aggregator Framework

An RBI-regulated intermediary that moves a person's financial data, such as bank statements, investments and insurance, from the institutions that hold it to a business they choose, only with their consent and without being able to read or store it.

Why it matters

It lets a lender, wealth app or accounting tool get verified financial data in minutes instead of asking for PDF statements, which speeds up credit decisions and onboarding. A business that receives the data can use it only for the purpose the customer agreed to.

For example

A small-business lender asks an applicant to approve, through an account aggregator, sharing twelve months of bank statements, and makes a loan decision the same day.

Go deeper

What is Account Aggregator? Sahamati · article The explainer from Sahamati, the industry body for the account aggregator network, on who holds the data, who moves it, who uses it, and how consent works. Open sahamati.org.in →

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