How Is Account Aggregator Framework A Boon To The Financial Institutions
From the age of having a savings account to reaching a current account, a salary account, or a business account, people surely go through a long way by the time they have touched their 30s. Amidst this, managing each of the accounts and taking care of the financial transactions becomes very difficult. If you are facing the same situation, then there is something to help you out. This is the new account aggregator framework initiated by the Reserve Bank of India. Why Is The Account Aggregator Framework Initiated? Earlier companies experienced a lack of transparency of financial information because it had to be accessed and disclosed among several accounts at once. This led to ambiguity and translucency in managing financial issues. Thereby, the core reason behind the development of account aggregators is how it is easing out the manageability of financial account transactions and broadening the idea of making compelling financial decisions in the industries. This helped in ...