In a digital-forward economy, borrowers have to repeatedly share extensive personal and financial data with lenders throughout their lifetime, which often poses both inconvenience and security risks. On top of that, this sensitive information includes profile details, addresses, credit card information, bank transactions, and investment details, all of which are vulnerable to potential breaches. With […]
The Reserve Bank Of India introduced the Account Aggregators (AA) framework in September 2021 to facilitate access to financial data and encourage financial inclusion. An Account Aggregator collects a user’s digital financial data from one or more accounts and delivers it to the financial institution providing services like loans or insurance to the user. The […]
The account aggregator framework allows financial institutions to share data. These institutions – banks, mutual fund companies, insurance companies, and pension funds – store customer financial data required by lenders, wealth managers, insurers, and personal finance managers. Using an account aggregator is a great option if you’re looking for a way to speed up your […]
