The framework that enables open access to bank transaction data with user consent for financial services is called ________.
- <a>
- AI / Autonomous
- Account Aggregator
- Fab / Foundry
Answer: Account Aggregator
Account Aggregator (AA) ecosystem enables consent-based sharing of financial data between institutions. Users control data sharing via AA apps. FIPs (banks, mutual funds) provide data; FIUs (lenders, wealth apps) consume for personalized services. Reduces documentation, speeds up credit decisions, and promotes competition in financial services.