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Consents

When you have an account with TallyEdge, banks or financial institutions that require your financial data (Financial Information Users, or FIUs) can send requests to get your consent for sharing the data. Once you approve the consent requests, banks and financial institutions where you have accounts (Financial Information Providers, or FIPs) linked with your VUA will start sharing the required details with the FIUs through TallyEdge. At the time of approving a consent request, you can check the purpose, period for which the data will be shared by the FIPs, time window during which the data will be shared, and frequency of data sharing with the FIU.

If you are applying for a loan, the bank (FIU) that provides the loan will require many documents from your side. These documents include your bank statement, GST returns, and so on, that are issued by the FIPs. When you have an account with an accounts aggregator, it becomes easy for the FIUs to request data and the FIPs to share data, with your permission.

Consents ensure that your financial information is shared only with the FIUs that are authorised by you to receive it. FIUs send consent requests to access your financial information to provide the services you agreed to. Based on such requests you can allow the relevant FIPs to share data with FIUs. The FIPs will share end-to-end encrypted data with the FIUs through TallyEdge so that no third party accesses the data while in transit.

TallyEdge maintains the status of every consent. However, TallyEdge does not retain your data during the process.

In TallyEdge, consents are classified as Pending, Active, and Archive.

  • Pending: All the requests that come from FIUs for your approval are listed under the Pending section. You may approve or reject the request as needed.
  • Active: All approved consents and consents that are completed but not expired are listed in the Active section. You can also revoke any active consent if you want to stop sharing data with any FIU. You may pause any active consent if you want to stop data sharing for some time. Later, you can resume the activity.
  • Archive: All consents that are expired, rejected, or revoked are listed in the Archive section.

Read this page to learn how to view the consent requests sent to you for approval, take action, change the status of each consent as per you needs, and view details of archived consents and the accounts linked to such consents.

 

Approve or Reject Pending Consents

When any FIU raises a request for your consent to obtain data from any FIP, you need to approve the request so that the FIP can start sharing the data. You can also decide to reject the request if the requested data need not be shared. In case you do not approve or reject the consent within the time mentioned in the consent request, the request will expire.

 

The Pending tab

You can see the list of consents that are raised by different FIUs. Number of requests will depend on the requirements or applications you have submitted to different banks or financial institutions.

The name of the FIU is on the top left corner of each request.
pending-consent

Consent details

Consent details show the parameters requested by FIU.
consent-details-pending-consent

  • Type of data: The type of financial information requested by the FIU to view or download such as Transactions, Summary, or Profile.
  • Purpose: The requirement for which the consent request is sent such as Aggregated Statement. For more details, refer to ReBIT | Industry Initiatives.
  • Consent validity period: The interval during which the FIU will be able to access your financial information. 
  • Transaction period: The period for which data needs to be shared. Information from your linked accounts will be shared based on the specified dates, transaction type, and criterion mentioned here.
  • Mode of access & data life: Whether the FIU can view, download or store your financial information during the allowed period.
  • Type of information: Different types of accounts with FIPs, such as Deposit and Recurring Deposit. 
  • Consent received on: Date on which the consent request was received.
  • Consent expires in: Time left for the consent to be approved by you. If you do not approve or reject the consent within this time, the consent request will expire.

Approve Consent Requests

  1. Select ConsentsPending.
  2. Click View Details on the consent you want to approve.
    button-view--details-pending-consent

  3. Verify the details and click Proceed, if you decide to approve the request.
    button-proceed-pending-consent


  4. Select the required accounts and click Approve.
    If any of the required FI account is not linked, click Add Account. Refer to Accounts section to learn how to link accounts.
  5. Enter the OTP and click Submit.
    approve-consent

The consent request is approved. You can see this consent on the Active tab.

Reject Consent Requests

  1. Select Consent > Pending.
  2. Click View Details on the consent you want to reject.
    button-view--details-pending-consent

  3. Verify details and click Reject, if you decide to reject the request.
    button-reject-pending-consent
    Note: If you reject the consent request, you will not be able to revert the consent request.
  4. Click Yes.

The consent request is rejected. You can see this consent on the Archive tab.

Revoke or Pause Active Consents and Resume Paused Consents

All consents that you have approved and the data flows are happening regularly are listed in the Active section. You can revoke any active consent if you want to stop sharing data with any FIU. You may pause any active consent if you want to stop data sharing for some time. You can also view the paused consents in this tab and resume the activity, if needed.

The Active tab

You can see the list of consents that are approved and are active. Number of consents will depend on how many you have approved.

The name of the FIU is on the top left corner of each request.
active-consent

Click View Details on the consent you want to revoke.

    • View Consent: Click to verify details of the consent.
    • Data flow history: Stages of data sharing and the status of each stage. To view the data sharing status, click View History.

Revoke active consents

  1. Select Consent > Active.
  2. Click View Details on the consent you want to revoke.
    button-view-details-active-consent

  3. Click View Consent and verify details of the consent.
  4. Click Revoke if you decide to stop the data flow from FIP to FIU.
    button-revoke-active-consent
    Note: If you revoke the consent, you will not be able to make the consent active again, and the data flow from FIP to FIU will be stopped for the consent.
  5. Click Yes.
  6. Enter the OTP and click Submit.

The active consent is revoked. You can see this consent on the Archive tab.

Pause active consents

  1. Select Consent > Active.
  2. Click View Details on the consent you want to pause.
    button-view-details-active-consent
  3. Click View Consent and verify details of the consent.
  4. Click Pause if you decide to stop the data flow from FIP to FIU for some time.
    button-pause-active-consent
    Note: when you pause the consent, data flow will be paused for the consent.
  5. Click Yes.
  6. Enter the OTP and click Submit.

The active consent is paused. The consent will continue to be displayed in the list on the Active tab. A button with the name Resume can be seen with the consent.

Resume paused consents

  1. Select Consent > Active.
  2. Click View Details on the paused consent you want to resume.
    button-view-details-active-consent
  3. Click View Consent and verify details of the consent.
  4. Click Resume if you decide to restart the data flow from FIP to FIU.
    button-resume-active-consent

  5. Click Yes.
  6. Enter the OTP and click Submit.

The paused consent is made active. The consent will continue to be displayed in the list on the Active tab.

View Data Flow History

TallyEdge shares end-to-end encrypted data, and the details of the process is maintained. No financial data is stored in TallyEdge for future use. You can view the status of the data flow.

  1. Select Consent > Active.
  2. Click View Details on the approved consent.
    button-view-details-active-consent
  3. Click View History.
    view-history-data-flow

    The Data Flow History for <FIU> screen appears.

  4. Identify the date on which you want to view the data flow history and click View.
    The Data Flow Initiated on <date+time> screen appears with the status of instance of every data flow, and the details are below:
    • Request sent: TallyEdge had sent the fetch request to FIP.
    • Data fetch: Data fetching is either successful or failed.
    • Notified <FIU>: TallyEdge had sent a notification to the FIU.
    • Data delivered: The end-to-end encrypted data was sent to the FIU or not.

View Details of Archived Consents

The Archive tab

All consent requests that are rejected, revoked or expired before approval are listed in the Archive tab. This section is useful when you want to check details of any of the old consents that are nor more active.

The name of the FIU is on the top left corner of each request.
archive

The Consent statuses are:

  • Expired (without approval): No action was taken on the consent request within the specified period.
  • Expired: The consent request was approved, but the next steps were not completed within the specified period. This includes cases such as the FIP missed to share your financial information to the FIU.
  • Revoked: Consents approved and revoked before completing the transfer requirements.
  • Rejected: Consents rejected without approval.

View consent details and linked accounts

Under the Archive tab, you can view the consent details and the linked FI Type accounts for the Consent.

  1. Select Consent > Archive.
  2. Click View Details on the approved consent.
    On Consent Details screen, you can view the details of the consent.
    archive-consent-details
  3. Click View Accounts.
    Details of the accounts associated with the consent are shown.

 

Create Consents

You can use a TallyEdge account to aggregate data from your accounts with many FIPs so that you can check your financial health and plan your investments better. For this you can create a consent request to gather data from various FIPs.

Create Consent for Balance Enquiry

You can create a consent for balance enquiry with your FIPs. A consolidated balance statement of your linked accounts will be available for you to check your financial status.

  1. Select Consents > Create Consent.
    create-consent

    The Create Consent screen appears.
    home-create-consent
  2. Select the Consent Type as Balance Enquiry.
    1. Type of Information: Based on the selected type of information, accounts will be fetched to link with this consent.
    2. Type of Data: Your Profile details and summary will be fetched. These fields are auto-checked by default, as you have selected Balance Enquiry.
    3. Consent Validity Period: Your financial information will be fetched during this tenure.
    4. Data Fetch Type: The frequency may be One Time or Periodic.
      If you select Periodic, you have to choose the Frequency and Every
    5. Consent Name: Name the consent as needed.
  3. Click Create Consent Request.
  4. Select the accounts as required and click Approve
    select-accounts-balance-enquiry-self-consents
  5. Enter the OTP and click Submit.

After creating a consent, it will be listed under the Active tab.

Create Consent for Transaction Statements

The Consent will be created for all transactions involving your linked accounts.

  1. Select Consent > Create Consent.
    create-consent

    The Create Consent screen appears
  2. Select the Consent Type as Transaction Statements.
    transaction-statement-self-consent
    1. Type of Information: Based on the selected type of information, accounts will be fetched to link with this consent.
    2. Type of Data: Your Profile details and transactions will be fetched. These fields are auto-checked by default, as you have selected Transaction Statements.
    3. Consent Validity Period: Your financial information will be fetched during this tenure.
    4. Transaction Period: The transactions during this tenure will be fetched.
    5. Data Fetch Type: The frequency may be One Time or Periodic.
      If you select Periodic, you have to choose the Frequency and Every
    6. Consent Name: Name the consent as needed.
  3. Click Create Consent Request.
  4. Select the accounts as required and click Approve
    select-accounts-balance-enquiry-self-consents
  5. Enter the OTP and click Submit.

After creating a consent, it will be listed under the Active tab.

Create Consent for Custom

TallyEdge provide you the flexibility to create a Consent as needed.

  1. Select Consent > Create Consent.
    create-consent

    The Create Consent screen appears.
  2. Select the Consent Type as Custom.
    custom-create-consent
    1. Type of Information: Based on the selected type of information, accounts will be fetched to link with this consent.
    2. Type of Data: You have the flexibility to select the options as required. These fields are not auto-checked by default, as you have selected Custom.
    3. Consent Validity Period: Your financial information will be fetched during this tenure.
    4. Transaction Period: The transactions during this tenure will be fetched. 
      Note: This field will not appear if you not have selected Transactions under the Type of Data.
    5. Data Fetch Type: The frequency may be One Time or Periodic.
      If you select Periodic, you have to choose the Frequency and Every
    6. Consent Name: Name the consent as needed.
  3. Click Create Consent Request.
  4. Select the accounts as required and click Approve
    select-accounts-balance-enquiry-self-consents
  5. Enter the OTP and click Submit.

After creating a consent, it will be listed under the Active tab.

 

View and Share Reports

On your mobile, you can get reports for the consents that you have created. Reports can be viewed or shared through TallyEdge mobile application only.

Note: You can download the mobile application from the below link: 

You can view the reports under Active tab and Reports menu, on TallyEdge and share the reports in PDF, Excel, or XML format as required.

View and Share from Active tab

  1. Go to Active tab and select the consent that you had created. 
  2. Tap NEW DATA REQUEST for the report that you want to view or share.
  3. Select the date as required, and tap NEW DATA REQUEST.
  4. Select VIEW NOW.
    The account information details will be solely based on the consent you had created. 
  5. On the Account Information screen, select Profile InformationSummary Information, or Transaction Information.
  6. On Reports, tap SHARE REPORT, to share the report through e-mail or any messenger applications installed in your mobile device.
  7. Choose the File Type (PDFExcel, or XML) as required and tap SHARE.
  8. Select WhatsApp, e-mail or any other supported application to share the Report.

If you have selected VIEW LATER, you can find it under the Reports menu. Refer to the View and Share from Reports menu section.

View and Share from Reports menu

  1. Go to Reports menu from bottom of the screen. The Reports screen appears.
  2. Tap plus-button-reports button from top-right of Reports screen. 
  3. On Request Data screen, Tap NEW DATA REQUEST for the report that you want to view or share.
  4. Select the date as required and tap NEW DATA REQUEST. The consent is added on the Reports dashboard.
    reports-menu
  5. Tap VIEW VIEW NOW.
    view-now
  6. On the Account Information screen, select Profile InformationSummary Information, or Transaction Information.
  7. Tap SHARE REPORT, to share the report through e-mail or any messenger applications installed in your mobile device.
  8. Choose the File Type as PDFExcel, or XML and tap SHARE.
  9. Select WhatsApp, e-mail or any other supported application to share the report.

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