I am a little confused about aggregators. Why do people use aggregators? What is the use case of Account Aggregator?
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Using Account Aggregator apps like Anumati, Setu, or Finvu offers a secure and efficient way to manage and share your financial data with banks, lenders, or other financial service providers. These platforms are regulated by the RBI and operate under a consent-based system, which means your data is shared only when you approve it. They eliminate the need for physical documents or manual uploads by allowing you to digitally share information like bank statements, mutual fund holdings, or insurance data in just a few taps. This comes in handy while seeking loans, obtaining investment advice, or utilizing fintech solutions since it accelerates verification and approval procedures. Above all else, these apps don’t store your information, keeping your financial data private and encrypted and giving you total control of who gets to see what and for how long.
Hey, In today’s digital world where managing finances can feel overwhelming, why should someone choose to use aggregator apps like Anumati, Setu, or Finvu instead of handling their accounts and policies separately?”
Why Should You Use Aggregator Apps Like Anumati, Setu, or Finvu ?
Managing finances today can feel like juggling multiple balls at once—bank accounts, insurance, investments, and loan payments all scattered across different platforms. This is where aggregator apps such as Anumati, Setu, or Finvu can make life simpler. They act as a one-stop solution for organizing, monitoring, and making sense of your money.
1. Convenience of Having Everything in One Place:
Instead of logging into multiple banking or insurance apps, an aggregator brings all your financial details under one roof.
You can view your savings, investments, insurance policies, and loans in a single dashboard.
This saves time and reduces the stress of switching between different apps or remembering multiple login details.
2. Better Financial Clarity and Tracking:
When finances are spread out, it’s easy to lose track of spending, EMIs, or due dates.
Aggregator apps provide real-time insights into your money flow.
You get a clear picture of your income, expenses, and upcoming obligations, helping you make more informed decisions.
3. Secure and Trusted Data Sharing:
Apps like Anumati, Setu, and Finvu are built on the Account Aggregator (AA) framework regulated by the Reserve Bank of India (RBI).
This means your data is shared securely and only with your consent.
Unlike random third-party apps, they use encryption and consent-driven access, so your privacy is always protected.
4. Personalized Financial Planning:
By bringing all your accounts together, these apps can help you:
• Identify unnecessary spending.
• Track overdue payments or EMIs.
• Plan for investments, savings goals, or retirement more effectively.
5. Empowering Financial Independence:
For individuals who feel overwhelmed managing multiple accounts, these apps act as a financial assistant.
• They reduce dependency on agents or middlemen.
• You gain greater control over your own financial decisions.
Final Thoughts:
Using aggregator apps like Anumati, Setu, or Finvu isn’t just about convenience—it’s about building financial awareness, security, and independence. Instead of feeling scattered and confused about your money, you can see everything in one place, make informed choices, and move closer to your financial goals with confidence.
Account aggregator apps like Finvu, Anumati, NADL etc ensure that the FIUs (be it the fintech platforms or the users themselves) get information with just a few clicks. Users can also track their spends and find more information category wise.
Users can also track the consents they have given to different platforms and companies to use their data and can revoke when they feel the purpose is served.