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Fueling Financial
Solutions with the
Future of Data Sharing

How did Account Aggregators come into picture?

Businesses and individuals seeking access to credit and other financial solutions had several hurdles to overcome.

First of all, financial Institutions like banks and other NBFCs provided loans and credit-based financial services to individuals and businesses only after assessing their repayment capability. Having no credit history or collaterals strictly shut the possibility of availing the financial services. This created an urge for a solution that would ensure financial inclusion - empowering all the segments of the society avail financial solutions alike.

Secondly, prior to providing financial services, the financial data sharing process posed a lot of complications. Earlier, financial data was shared in physical form, or in form of soft copies in PDF/Excel or other formats. Sometimes there was a need to notaries or stamp the documents, and in the worst case scenario, there was even a need to share your user name and passwords with the financial institutions to fulfil your financial needs. This mode of sharing financial data was time consuming, not secure and you don't really know whether the data is being used for the actual purpose for which it was shared or by the person/entity it was shared to.

In this scenario, a new form of NBFC was approved by RBI in 2016 – account aggregators, opening doors to the future of digitally sharing your data with your consent. A simplified approach to financial data sharing, account aggregators can revolutionize the financial services entirely. AAs empower data owners to leverage their own data and the data owners can decide who can access their data, thereby, eliminating the scope of data theft or document tampering.

Who are the important
parties in the Account
Aggregator ecosystem

In the account aggregation process,
there are four main parties involved:


Customer - Businesses and individuals seeking various financial solutions


Financial Information Providers (FIP) – These are entities that act as overseers of the user data. FIPs include financial institutions like banks, NBFCs, pension funds and mutual funds. They function as the source of user data which is accessible by FIUs through requests routed via Account Aggregators. To maintain sustainability, all institutions must be FIPs initially and then turn to FIUs.


Financial Information Users (FIU) – These are entities that can actually use the data provided by the user. The use of data is strictly as per a data-sharing agreement or Consent Artefact that clearly defines the parties who have the user’s consent for data access and the purposes and duration for which the data can be used.


Account Aggregators- These are RBI-regulated NBFCs that collect data (with the user’s consent) from FIPs and share with FIUs during scenarios where the user is availing a loan or other financial services.

How does an Account Aggregator work?


What kind of data can be
shared using AA platform?

Account Aggregators facilitate the sharing of data including

  • Profile, Summary and Transactional statements for
  • All your bank accounts including Term Deposits and Recurring Deposits
  • Mutual funds and Securities
  • Pension Funds
  • Insurance Policies
  • and much more

A trusted, RBI licensed Account Aggregation platform that empowers you to share your financial information securely and with your consent.

Contact Info

AMR Tech Park II, No.23 & 24, Hongasandra,
Hosur Main Road, Bangalore 560 068, India.
Customer support: [email protected]
Business enquiries: [email protected]

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