Account Aggregator

Consent-driven access to rich financial data

Get diverse financial data, with user consent. Build trust with your users, by letting them know why you need their data, and unlock new financial products for them.
Offer finance management, improve loan underwriting or provide investment recommendations.

Try out Setu’s sandbox for account aggregator on our developer console

View API docs ↗
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Watch the launch of our Account Aggregator Sandbox! Learn more about Account Aggregators with our previous webinar. Join us on Slack for product updates.

What are account aggregators?

Account aggregators are RBI-regulated entities that allow people to share and manage their financial data with companies under the new Data Empowerment And Protection Architecture framework. Learn more ↗
Setu partners with licensed account aggregators, and we provide pre-built, customisable screens for your users to register, approve/reject/manage data consent requests.
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The user is the custodian of their data

Users can register, link their data providers and approve sharing data with other apps or websites.

  • Consent to what data is shared with whom, and how often.
  • Know how data is stored and used.
  • View and manage data requests in one place.
  • Access financial products, based on the data.

At the heart of this framework lies the consent request—which defines the reason for data request, the duration of data storage, frequency of request and more. There are three types of data—


Super fast integrations for any financial data

Gain access to any data block a financial institute has to offer—bank transactions, account information, insurance summary, mutual fund statements, and many more—with just one integration.
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Full-fledged sandbox

A robust testing environment that mocks actual flows for user registration, data requests, consent approvals or rejections or expiry.

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Customised testing

Test how consent artefacts work in live situations. Use Setu’s high quality mock data, or upload your own data for custom scenarios.

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Optimised UX

Pre-built, responsive mobile or desktop screens for user registration, consent approval and management.

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Match your brand

Theme our pre-built screens to match your brand. Set custom logo, colours, fonts and language.


Build customer trust with high conversions

Make use of our extensive research on data sharing principles with diverse users. We guide you every step of the way to help explain to your customers how the account aggregator consent framework works.
Building trust with customers—
  • Establish authenticity—highlight security features, surface trusted institutions.

  • Provide visuals—give details on how data is shared with consent.

  • Nudge to make informed choices—explain how the data is used, pros and cons.


Unlock diverse use cases

Create innovative customer products on top of data blocks from multiple financial data providers—build personal finance management apps, credit underwriting models, investment products, and more.
Access data that is available for any financial information block—like bank accounts, insurance, deposits, credit cards and more.
  • Personal finance management

    Do a periodic bulk fetch and show users a summary of spends, investments and more.

  • Credit underwriting

    Request for detailed transaction data from multiple banks, to offer your customers appropriate loan interest rates.

  • Investment recommendation engine

    Recommend investment products to customers once you know their risk appetite from existing investment and savings.

  • User verification

    Verify name, address, bank account details and PAN easily.


What is an account aggregator?

An account aggregator is a special class of NBFC defined by the RBI, to enable easy sharing of financial data, while also providing an inbuilt consent framework for users. Easy sharing of financial data allows for new financial products to be unlocked for a wider set of customers.

An AA acts like a postman between entities that can provide financial information (FIPs) and those that want to request for and consume such data (FIUs). The data is only shared once the customer reviews a data request and approves it.


What are FIPs and FIUs?

An FIP, is a financial information provider—like a bank or an insurance company—that is able to share financial data around a user of their product or service.

An FIU, or financial information user, is an entity that is requesting for data from an FIP—for their customer—for purposes like verification or enabling financial products for users.


How does the account aggregator’s consent framework work?

When an app/website requests for financial data from a customer, the customer can review details of the data request on an account aggregator app/website that they have registered with. The data request includes details like—

  • Type of data

  • Purpose and frequency of request

  • Duration of access to the data

...and more

The customer uses this information to approve or reject the request with a simple PIN based authentication.

A customer can also revoke consent for the data being shared. This gives complete control to users and also opportunities to financial apps and websites to build trust with their customers.