Definition
Account Aggregator (AA)
The Account Aggregator framework is an RBI-regulated, consent-based system that lets you securely share your financial data from one institution with another through a licensed intermediary.
An Account Aggregator (AA) is an RBI-licensed NBFC that acts as a consent manager: it does not see or store your data but moves it, in encrypted form, from data providers (banks, insurers, mutual funds) to data users (lenders, advisers) only with your explicit, revocable consent.
The framework lets you grant time-bound, purpose-specific access — for example, sharing bank statements to get a loan faster — and revoke it later. It is built on the DEPA (Data Empowerment and Protection Architecture) approach, putting you in control of your own financial footprint.
AAs reduce reliance on manually shared PDFs and screenshots, aiming to make lending, advisory and personal finance management more seamless and secure.
Related terms
- Video KYCVideo KYC is an RBI-permitted process where customer identity is verified through a live video interaction with an official, allowing fully remote account or loan onboarding.
- Digital Lending GuidelinesRBI's Digital Lending Guidelines are rules that govern app- and platform-based lending in India to ensure transparency, fair practices and protection of borrowers' data.
- API BankingAPI banking lets businesses and fintechs connect to a bank's services programmatically through application programming interfaces to enable payments, account opening and data flows.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.