What is an Account Aggregator?
An Account Aggregator (AA) is an RBI-licensed NBFC that moves your financial data between institutions only with your explicit, revocable consent. The data can include bank statements, deposits, and investment or insurance records. The AA only passes data through in encrypted form and cannot read or store it. Lenders use it to fetch verified bank statements in seconds instead of asking for PDFs.
Account Aggregator ek RBI-licensed company hai jo aapki permission se aapka bank statement ya financial data ek jagah se doosri jagah bhejti hai. Woh khud data padh nahi sakti. Lender isse turant verified statement le leta hai, PDF upload karne ki zarurat nahi.
How it works
- The lender (Financial Information User) requests data for a stated purpose and duration.
- You approve the consent in your AA app, choosing accounts and timeframe.
- Your bank (Financial Information Provider) sends the data, encrypted, through the AA.
- You can revoke consent at any time.
Account aggregator vs payment aggregator
An account aggregator moves data with consent. A payment aggregator moves money, collecting payments for merchants. They are unrelated licences.
Why lenders use it
Verified, tamper-proof cash-flow data improves underwriting for thin-file and self-employed borrowers, and cuts document fraud. The consent artefact also fits the DPDP Act's purpose-limited model.
Common questions
What is an account aggregator?
An RBI-licensed NBFC that transfers your financial data between institutions only with your explicit consent, without being able to read it.
Is account aggregator safe?
Data moves encrypted, the AA cannot read or store it, and you control and can revoke each consent.
Account aggregator kya hai?
Account aggregator aapki permission se aapka financial data (jaise bank statement) lender tak surakshit tareeke se bhejta hai.
Related
ZyroAI products for this: Loan Management System · Digital KYC.
Written by the ZyroAI team for people building in Indian BFSI. Regulatory rules change, so for binding requirements check the current RBI, NPCI, UIDAI or relevant regulator circular. Last updated 2026-09-24.