Account Aggregator
Account Aggregator https://www.fundstiger.com/account-aggregator/ Account Aggregator Simplify Sharing of Financial Data And Reduce Processing Time In September 2016, the Reserve Bank of India (RBI) had proposed setting up of an account aggregator that would act as a common platform capturing all your financial details in one place. The account aggregator will help individuals and small businesses share their financial data with third parties in a safe and secure manner, and give them greater control over how their data is being used. The four major financial regulators — RBI, IRDA, PFRDA and SEBI (regulating banks, insurance, pensions and markets, respectively) – came together to allow regulated entities under their control to share data with user consent with account aggregators. To promote the account aggregator ecosystem a body, named Sahamati, has been formed. It will work towards accelerating the adoption of the framework by building awareness about the new technology an...