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India launches Account Aggregator to extend financial services to millions

• tsjq 5y ago
  >The new system makes it possible for banks, tax authorities, insurers, and other finance firms to aggregate data of customers — who have provided their consent — to get better understanding about their potential customers, make informed decisions and ensure smoother transactions. >Users who provide consent — and it only takes a few taps to do so — will be able to share their financial information from one Account Aggregator participant to another through a centralized API-based repository. Users get to decide for how long they wish their data to be shared with a particular Account Aggregator participant. that's interesting. I am guessing Tax Authorities would mandate everyone to enable this. like they did with the Aadhaar-PAN linkage. statutory: Aadhaar is fully voluntary and optional