An Account Aggregator (AA) is a regulatory entity under the Reserve Bank of India (RBI). An Account Aggregators employ advanced technology to securely transfer an individual’s information within a network of financial institutions, insurers, and mutual funds. This process involves robust encryption and digital signatures. Importantly, none of this data can be moved without the explicit consent of the individual. An Account Aggregator also empower consumers to selectively share or withdraw their information, opening doors to a multitude of financial services tailored to individual and business needs.
To know more about Account Aggregator ecosystem, please visit https://sahamati.org.in/what-is-account-aggregator.