How Account Aggregators can help you & bring in open banking

AA merely acts as a conduit or a channel between FIUs and FIPs

Last week, the Account Aggregator (AA) network went live. The Reserve Bank of India (RBI) has been discussing the AA framework since 2016 and it has also been tested for a while. Financial experts say opening the network to all customers, as has now been done, is the first step towards bringing open banking in India and empowering millions of customers to digitally access and share their financial data across institutions in a secure and efficient manner.

What are Account Aggregators? 

Account Aggregators are licensed non-banking finance companies (NBFC) which enable instant exchange of financial data between financial information providers