WHAT IS AN ACCOUNT AGGREGATOR ?
An Account Aggregator (AA) is a type of RBI regulated entity (with an NBFC-AA license) that helps an individual securely and digitally access and share information from one financial institution (referred to ad Financial information Provider/FIP) that they have an account with to any other regulated financial institution ( referred to as Financial Information User/FIU) in the AA network or withdraw is selectively. Data cannot be shared without the consent of the individual.
Star Union Dai-ichi Life Insurance (SUD Life) shall act both as FIU as well as FIP in the AA Network.
