Introduction to Account Aggregators

Account aggregators(AAs) are regulated entities (opens in a new tab) that facilitate consented sharing of financial data by utilising the DEPA framework. They act as the bridge between data providers such as banks, and data consumers such as lenders, investment advisors, insurers and other regulated entities—to enable the sharing of a user’s financial data based on their explicit consent. Setu AA is a fully-licensed AA that received its certificate of registration from the Reserve Bank of India.

Data providers are called Financial Information Providers (FIPs) and data consumers are called Financial Information Users (FIUs) in the AA ecosystem

Here’s a high-level diagram of the AA consent and data fetch flows—