Account Aggregator - What it means and how it works

Learn how account aggregators store financial information securely and provide tools that help businesses make better financial decisions.
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Business Loan
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2 mins
12 November 2025

Account aggregators are licensed by the Reserve Bank of India and are digital platforms that help users manage their financial data. They collect and consolidate financial information from different sources like banks, insurance providers, mutual funds, and pension funds in one place. Users can access this consolidated data to make informed financial decisions, including applying for loans. This process enhances the business environment by facilitating easier financial management.

How do account aggregators work?

  1. Users link their different financial accounts like bank accounts, mutual funds, and other investment accounts with account aggregators.
  2. Account aggregators request and collect data from linked accounts to compile them in a consolidated view.
  3. Users can share their financial data with third-party service providers, like Bajaj Finserv Business Loans, for better loan evaluations. Through guerrilla marketing, businesses can promote such digital financial tools to the right audience effectively.
  4. Users can access their financial data from various sources in one place, leading to better financial planning, budgeting, and investment practices. This helps in making better-informed decisions in the entrepreneurship journey, empowering individuals to grow their businesses with efficient financial planning.
Business Loan
Business Loan

Advantages of the account aggregator (AA) framework

The account aggregator (AA) framework revolutionises financial data sharing, ensuring secure and seamless access to one's financial information across various institutions. This framework enhances financial inclusion, providing individuals with greater control over their data. By streamlining information retrieval, it simplifies loan approvals, investment decisions, and financial planning. The AA framework promotes efficiency, transparency, and privacy, offering a user-centric approach to managing financial data. Additionally, it encourages green marketing by supporting sustainable financial practices and decisions. This innovative system facilitates a more interconnected and empowered financial landscape for individuals and businesses alike.

Account aggregators and better financial Health

Account aggregators can significantly contribute to better financial health by promoting:

  • Budgeting: By being aware of their expenses, users can create a budget and allocate their savings and investments accordingly.
  • Better decision-making: The consolidated view of financial data offers users insights into their financial lives, which help them make informed decisions about investments and loans.
  • Improved savings: With a comprehensive view of their financial situation, users can save more efficiently.

Our business loan and account aggregators

As one of the leading lenders in India, Bajaj Finance offers unsecured business loans to help businesses achieve their funding goals. The loan application involves evaluating the borrower's creditworthiness and income to ensure that the borrower can repay the loan. Access to consolidated financial data through an account aggregator can help borrowers by providing:

  • Comprehensive financial data: account aggregators provide a complete financial picture of the borrower's business, which can help inform lending decisions.
  • Efficient processing: Loan processing becomes more efficient as financial data is directly accessible to the lender.
  • Improved loan approval chances: Lenders can gain greater insight into a borrower's financial position, leading to better risk assessment and improved chances of loan approval.

Helpful resources and tips for business loan borrowers

Types of Business Loan

Business Loan Interest Rates

Business Loan Eligibility

Business Loan EMI Calculator

Unsecured Business Loan

How to Apply for Business Loan

Working Capital Loan

MSME Loan

Mudra Loan

Machinery Loan

Personal Loan for Self Employed

Commercial Loan

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.
For customer support, call Personal Loan IVR: 7757 000 000

Frequently asked questions

How does account aggregator work?

Account aggregator acts as an intermediary between financial institutions and users. It securely collects and consolidates financial data from various sources to provide users with a comprehensive view of their finances in one place.

What is an example of an account aggregator?

An account aggregator is a platform that enables users to access their financial data from multiple sources. For instance, a user can use an account aggregator app to view their bank accounts, investments, and credit card transactions in one dashboard.

What is the function of an aggregator?

The primary function of an aggregator is to collect and compile data from various sources into a single interface or platform. It streamlines information for users, allowing them to manage and monitor their finances more efficiently.

Why use an account aggregator?

Utilising an account aggregator streamlines financial management by consolidating data from various sources. This simplifies budgeting, enhances financial planning, and expedites processes like loan approvals. With increased efficiency and real-time insights, users gain better control over their financial data, fostering informed decision-making and overall financial well-being.

Who oversees the account aggregator?

The development and operation of the Account Aggregator framework in India are overseen by the Reserve Bank of India and governed by the Account Aggregator Regulations, 2020. The framework is managed by licensed Account Aggregator service providers who are responsible for protecting customer data and ensuring data privacy and security.

Who is eligible for using account aggregators?

Account Aggregators (AA) are open to individuals and businesses that need access to their financial data in one place. Eligibility criteria may vary depending on the AA service provider, but generally, applicants are required to have a PAN card and an account with a financial institution or bank that is registered with the AA platform.

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