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Eight of India’s major banks joins the Account Aggregator (AA) network

  • Published
    8th Sep, 2021

Account Aggregator System has the potential to revolutionize how financial data is transferred and used. Discuss. (150 Words)

Approach:

  • Introduce by providing an overview of what account aggregator system is and how it functions.
  • Use diagram to show relationships between Individuals, Financial information providers and Financial information users
  • Discuss how the system will help in increasing credit availability, financial inclusion and better financial services. Discuss its potential impact on Fintech industry
  • Briefly highlight concern regarding data privacy and security
  • Way forward/ Conclusion
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