All Your Assets at One Place
Authentic and accurate data is the foundation of all the innovations in digital finance. If Credit is a fabric, then data is the thread that weaves the fabric. If the threads are more robust, then the fabric will be stronger.
Authentic and accurate data is the foundation of all the innovations in digital finance. If Credit is a fabric, then data is the thread that weaves the fabric. If the threads are more robust, then the fabric will be stronger.
- Are you aware of all the assets, insurance policies, demat account or other financial data that you have?
- If you are, do you know these details about your parents?
- If you are a parent, do you think that your children know these details?
- Have you shared all your important documents with your loved ones?
- Do you have consolidated financial data, medical records and personal documents accessible for yourself and your loved ones?
- If answer to any or these questions is ‘no’, then we are going to help you.
Authentic and accurate data is the foundation of all the innovations in digital finance. If Credit is a fabric, then data is the thread that weaves the fabric. If the threads are more robust, then the fabric will be stronger.
So far, consumers did not have a way to view their unique data (or their life pattern) and use them to seek a tailor-made product. The Account Aggregator (AA) data will allow FIUs to build products and services tailor-made for consumers that suit their lifestyle instead of different segments.
The AA ecosystems should focus on earning customer’s trust in India’s urban centers and rural parts. The ecosystem can earn trust by educating consumers about their data and how to use it for their advantage.
A robust set of privacy laws combined with enforcements allow entrepreneurs with great ideas to build WOW experiences quickly in their garages from the data obtained from AA.
The AA data, combined with other accurate data sources (such as Credit Bureaus), allows FIPs to mine and predict customer behavior from data that are not authentic such as social media, SMS, and telecom.
The AA data will help FIUs provide a friction-free experience for their customers to share their data. FIUs will use the AA data to train their ML models, exponentially increasing the predictability of its outcomes.