Account Aggregator Network- A Financial Data-Sharing System
On 10th September, 2021, the Finance Ministry unveiled the Account Aggregator (AA) network in banking with eight of India’s largest banks that could revolutionize investment and credit, giving millions of consumer greater access and control over their financial records and expanding the potential pool of customers for lenders and fintech companies.
About Account Aggregator
- An Account Aggregator (AA) is a type of RBI regulated entity (with an NBFC-AA license) that helps an individual securely and digitally access and share information from one financial institution they have an account with to any other regulated financial institution in the AA network. ....
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