Account Aggregators (AAs) are about to take the fintech market by storm. Remember how UPI completely changed how people send money? No more awkwardly splitting restaurant bills, or digging for exact change to pay off that friend who’s been bugging you for months.

Account Aggregators (AAs) are about to do that for all other types of financial transactions in India!

Imagine sending your bank statements in a single click, rather than having to print and deliver them. Or small businesses being able to share their financial data and get a loan in minutes, not months. Or sharing valid financial documents without having to sign them 100 times and show 10 forms of ID.

Whether you’re a fintech startup or a financial giant, it’s imperative to learn the ins and outs of AAs before they transform the Indian fintech industry.

Looking for a primer on what an Account Aggregator is? Or how your fintech company can use it? Or where it should fit into your fintech product? Or what DEPA, OCEN, and the rest of the AA jargon actually means?

Keep reading for an explanation of all Account Aggregator concepts in layman’s terms, a clear understanding of the changing fintech landscape, and how to prepare your product infrastructure and internal capabilities to adapt to AAs.

What Exactly Is an Account Aggregator?

• Financial Information Providers (FIPs): organisations that hold your financial data e.g banks, insurance companies, mutual funds, pension funds, etc.
• **Financial Information User (FIUs): **organisations that consume financial data to provide consumer services e.g. banks, lending agencies, insurance companies, personal wealth management companies, etc.

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