What an Account Aggregator is
An Account Aggregator (AA) is a company licensed and regulated by the Reserve Bank of India to move your financial information from where it is held (your bank) to someone you choose to share it with (for example a lender), only after you approve it.
The AA acts as a consent manager. It passes your data along in encrypted form and is not allowed to read it, store it for its own use or sell it.
How sharing works
- The lender asks for your bank statement and you choose to share it through an Account Aggregator.
- You sign in to the AA with your mobile number and a one-time code, and find your bank account.
- You see a consent request that says exactly what is being asked for, and you approve or reject it.
- If you approve, your bank sends the statement, encrypted, through the AA to the lender.
What a consent request tells you
| In the KFS | What it tells you |
|---|---|
| Purpose | Why the data is needed, for example to assess a loan application. |
| Information type | Which data, for example deposit account statements. |
| Date range | The period of transactions being shared, for example the last few months. |
| Frequency | Whether the data is fetched once or more than once. |
| Consent valid until | When the consent itself expires. |
| Data retention | How long the recipient may keep the data. |
If anything in the request does not match what you expected, reject it and ask the lender why.
Changing your mind
You can see every consent you have given in your Account Aggregator, and revoke one at any time. Revoking stops any further data being fetched under that consent. It does not recall a statement that was already shared for a decision you asked for.
Account Aggregator at TrustLender
- Bank data arrives only through an RBI-licensed Account Aggregator after you approve it, and you can revoke consent.
- We never ask for your netbanking password.
- Prefer not to use an Account Aggregator? You can upload a PDF of your bank statement instead.
- PAN and Aadhaar are used for verification; on screen they are always masked.
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