Account aggregator framework and how can it help you: Part 1 | In Focus podcast

Harsh Roongta and Srikanth Lakshmanan speak to us about what account aggregators are, and who stands to benefit from this ecosystem.

Updated - June 03, 2023 04:27 pm IST

Published - June 02, 2023 07:33 pm IST

Of late there has been a lot of buzz around what’s known as the Account Aggregator ecosystem or framework. It’s a form of ‘open banking’ that has emerged with the blessings of the RBI and, according to analysts, could transform the financial services industry by making it easy for consumers to give their consent to sharing their personal financial data with different service providers. Although it’s still early days, there are about ten Account Aggregators in operation, with an estimated 7.7 million citizen accounts linked with the various account aggregators.

So how do account aggregators work? Who will benefit the most from this new ecosystem? What are the concerns about privacy and fraud? We explore all these aspects in a two-part podcast with two experts.

In this episode, we look at what Account Aggregators are, what led to their emergence, and how they work.

Guests: Harsh Roongta, the principal officer of Fee Only Investment Advisors and a member of the Governing Council of Sahamati, a non-profit that promotes the Account Aggregator ecosystem in India

Srikanth Lakshmanan of CashlessConsumer, a consumer collective that works on fintech.

Host: G. Sampath, Social Affairs editor, The Hindu.

Edited by Sharmada Venkatasubramanian.

Listen to more In Focus podcasts:

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.