What is an
Account Aggregator (AA) is a Reserve Bank of India (RBI) regulated entity that securely collects and transfers customer data between a network of insurance companies, financial institutions and mutual funds. The purpose of transferring data is to make it easier for customers to quickly get various financial services and for institutions to process customer requests with their data being readily available.
The data is shared safely through encryptions and digital signatures, thus protecting it from getting into unwanted hands. Not even Account Aggregators can read the customer data they collect. Most importantly, any data is shared only with the explicit consent of the customer.