Account Aggregator
Experience the Power of Account Aggregator with Navkar Nivesh
At Navkar Nivesh, we’re committed to simplifying your education loan journey through secure, fast, and intelligent digital solutions. With Account Aggregator, sharing your financial data is now easier, safer, and quicker than ever - helping you focus on what truly matters: your academic dreams. The Account Aggregator (AA) framework is transforming how individuals share and use their financial data - making access to loans and financial products faster, simpler, and completely secure. With Account Aggregators, you can safely and seamlessly share your financial information with lenders or other financial institutions, all through a digital and consent-based process. That means you stay in full control of what data you share, who you share it with, and for how long. At Navkar Nivesh, we’ve always believed in using technology to make education financing effortless. As one of the early adopters of the Account Aggregator framework, we’ve integrated AA into our digital loan journeys - helping students and parents experience faster loan approvals, instant verifications, and a truly paperless process.
What is an Account Aggregator?
An Account Aggregator (AA) is a licensed entity regulated by the Reserve Bank of India (RBI). It allows secure sharing of financial data between two regulated financial institutions - but only with your explicit consent.
Here’s how it works:
- You, the customer, decide whether and what data to share.
- You see why your data is being requested and for what purpose, before giving consent.
- The sharing happens digitally and in real-time.
- Your data is never stored or read by the Account Aggregator — they simply act as a secure bridge between your bank and the requesting institution.
How the AA Network Works
Here’s what the process looks like when you use Account Aggregator in your Navkar Nivesh education loan journey:
Start your digital loan application on our platform.
When prompted to share your bank statements, select the Account Aggregator option.
Choose your bank and give your consent using a one-time password (OTP).
Your bank shares the verified financial data instantly through the AA network.
Navkar Nivesh receives the data in real-time and can process your loan faster - with less paperwork and zero manual uploads.
Why Account Aggregators are a Game Changer
Faster Turnaround Time (TAT)
Since data collection and sharing happen instantly, loan processing times are drastically reduced — helping you get quick approvals.
Secure Data Movement
AAs don’t store or read your data. They only transfer it securely between authorized institutions, ensuring complete data safety.
Greater Transparency & Control
You can see exactly what data is being shared, with whom, and for how long. Nothing happens without your consent, and you can revoke it anytime.
Benefits of Using the AA Network
You’re in control
Choose what to share, with whom, and for how long.
Fully digital
No physical documents or manual uploads — everything happens online.
Highly secure
AAs don’t store or view your data.
Flexible
Choose specific accounts and time periods for data sharing.
Frequently asked questions
How is Account Aggregator different from Aadhaar eKYC or credit bureau data sharing?
Aadhaar eKYC or CKYC helps verify your identity using basic details like name, address, and gender. Credit bureaus provide your credit history and score. Account Aggregators, on the other hand, share your financial transaction data — such as savings account, current account, and deposit information. In the future, AA may also enable sharing of data related to tax, pensions, mutual funds, stocks, insurance, and more.
Is my data safe with the Account Aggregator?
Absolutely. AAs do not store or read your data. They simply transfer it between your bank and the requesting financial institution. Your data always remains with your bank.
Do I need to register with every Account Aggregator?
No. Registering with any one Account Aggregator is sufficient. However, you’re free to register with more if you wish to.
If Navkar Nivesh gets my bank statements through AA, will my credit score still be checked?
Yes. The AA framework helps Navkar Nivesh instantly access your verified income details, making the process faster and more transparent. However, your credit score remains an important factor in assessing your overall creditworthiness before final approval.
Who regulates Account Aggregators in India?
Account Aggregators are regulated by the Reserve Bank of India (RBI). They operate under the NBFC-AA license, ensuring compliance, privacy, and customer protection.
Does using AA make the loan approval guaranteed?
No, it doesn’t guarantee approval – but it accelerates the process by providing verified data quickly and reducing delays caused by manual verifications.
What should I do if my bank is not yet part of the AA network?
If your bank isn’t live on the AA network yet, you can manually upload your bank statements. The system will automatically detect and process them just like before.
Which banks currently support the Account Aggregator framework?
Most leading Indian banks like HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, SBI, and IDFC First Bank have joined the AA ecosystem. You’ll see a list of available banks when you choose the AA option during your loan journey.