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The Account Aggregator framework is set to revolutionise digital finance in India. Today, 162+ participants are a part of the AA Ecosystem, 6 entities have received an Operating Licence and 8 have In-Principle Approval. The framework will unlock and supercharge the industry’s potential, and ease and quicken processes for customers as well, all while ensuring consent is key and adhered to. AAs are expected to participate in OCEN and ONDC by providing data for credit underwriting. Additionally, Financial Institutions, Insurance Providers and Wealth Players will tap into the AA framework to underwrite, power data driven cross-sell and upsell, as well as reduce customer drop offs by making the process seamless and paperless. Users, on the other hand, will benefit from potential offerings like: – Net Worth Analyser – Personal Finance Management – Expense Analyser Additionally, if phone and utility payment data is brought into AAs, then more NTB customers will be able to build their credit scores and thus become eligible to avail credit. Check out ‘Deep Dive into Account Aggregators’ now.

Source:, The Digital Fifth analysis

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