An Account Aggregator in India is designed to help Financial Information Users (FIUs) -like an NBFC offering a loan- to gain access to a customer’s complete financial footprint by transferring data from various Financial Information Providers (FIPs) over a single platform. The data is transferred via APIs in an encrypted format after obtaining the consent from the customer. The encrypted point to point, machine readable data transfer ensures data privacy. The consent architecture at the back-end allows for varying levels of consent.
