I am a little confused about aggregators. Why do people use aggregators? What is the use case of Account Aggregator?
1 Like
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.