Account Aggregator

An Account Aggregator is a regulated data access framework that lets customers permission third parties to securely fetch financial data from multiple institutions in a standardized format. Aggregators act as consent managers, not data warehouses, brokering encrypted transfers between data fiduciaries such as banks and data users such as lenders or fintechs. In KYC and underwriting, this enables real time income, cash flow, and liability insights without uploading statements.Strong programs log explicit, granular consent, minimize requested scopes, and enforce time bound access with revocation. Governance covers provider due diligence, encryption, key rotation, and audit trails of every data pull. When orchestrated with ID verification and risk scoring, account aggregation speeds onboarding, reduces document fraud, and improves affordability assessments while maintaining customer control and regulatory compliance.