Account Aggregator
Consent-based financial data sharing framework enabling users to share financial information across institutions
Analysis Summary
| Property | Assessment | Summary |
|---|---|---|
| Governance, Ownership, and Development | partial | RBI-regulated framework; private sector Account Aggregators licensed by RBI |
| Economic and Business Model | partial | Fee-based model; AAs charge for data fetch transactions |
| Openness and Transparency | yes | Open API specifications; ReBIT maintains technical standards |
| Security and Vulnerability Management | yes | End-to-end encryption; data never stored by AAs; security audits required |
| Data Collection, Storage, Sharing, and Linking | yes | User-controlled data sharing; data flows directly between FIPs and FIUs |
| Coercion and Consent | yes | Explicit consent required for each data request; granular control over sharing |
| Accountability, Metrics, and Oversight | partial | RBI oversight; Sahamati ecosystem governance; public usage dashboards |
Overview
The Account Aggregator framework enables consent-based sharing of financial data between Financial Information Providers (FIPs) and Financial Information Users (FIUs).