Account Aggregator (AA) is an entity who is authorized to manage customer’s consent to share data between Financial Institutions to financial information users. AAs are data fiduciaries that fetch, consolidate, aggregate data from Financial Information Providers (FIPs) and present it to the customer basis explicit customer consent and present these data to Financial Information Users (FIUs).   Simply put, an Account Aggregator facilitates the flow of the loan applicant’s financial information between institutions that hold applicant’s data (FIPs) and institutions that will use this data to offer better services, underwrite loans etc. (FIUs)   In this manner, AAs act as a postman for managing consent of the data principle (loan applicant). It is important to note that Account Aggregators do this in real-time while also being data blind. Account Aggregators cannot view or store any of the data.   The 3 participants in the Account Aggregation Ecosystem are:
  1. Account Aggregators
  2. Financial Information Providers (FIPs)
  3. Financial Information Users (FIUs)
  The AA ecosystem looks like this:    
Following is a list of the Institutions that are active as FIPs in the ecosystem Following is a list of the Institutions that are active as FIUs in the ecosystem
  1. Axis Bank
  2. HDFC Bank
  3. ICICI Bank
  4. IndusInd Bank
  5. Bajaj Finserv
  6. Federal Bank
  7. Karur Vysya Bank
  1. Axis Bank
  2. HDFC Bank
  3. ICICI Bank
  4. IndusInd Bank
  5. Bajaj
  6. Federal Bank
  7. Karur Vysya Bank
  8. Lendingkart
  9. DMI Finance
  10. Epifi
  11. Goalteller
  12. IIFL Finance
  13. Kotak Mahindra
  14. Kairos Capital
  15. NeoGrowth
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