Account Aggregators: What Are They and How Will They Change the Fintech Ecosystem?

Written by parallelhq | Published 2020/10/25
Tech Story Tags: fintech | data-security | data-privacy | data-sharing | account-aggregators | fintech-trends | fintech-and-banking | india

TLDR Account Aggregators (AAs) are about to take the fintech market by storm in India. They share data securely between FIPs and FIUs - banks, insurance companies, mutual funds, pension funds, etc. An AA app is like Dunzo, picking up something for you and delivering it to another place. AAs will be used to transfer financial data rather than funds. An AA will facilitate the process of consent, much like how a UPI app facilitates the transfer of funds from one bank account to another.via the TL;DR App

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Written by parallelhq | We help innovative organisations create powerful, high-impact digital products in days, not months 🚀
Published by HackerNoon on 2020/10/25