Account Aggregator System: When A Billion Indians Took One Big Step Towards A Better Financial Future

Sahamati earlier this month announced that all major private and sector banks were live on the account aggregator network. It marks a major milestone because this one move brought nearly a billion Indians closer to having better access to a whole host of financial services ranging from credit to investments and more. The AA framework was conceptualised as a platform to give more control to individuals over their financial information while enabling seamless and secure access to this data for regulated entities within the AA ecosystem. The entire flow of information in the AA network is dependent on the individual granting explicit consent to share their financial data for a specific period. Data Security From credit to investment advisory to personal finance management, most financial services require customers to share information.