In today’s fast-changing digital world, data has become the new currency, and managing it securely is paramount. In India, the Account Aggregator (AA) framework emerges as a game-changer in the financial ecosystem, giving individuals control over their financial information.
Through its efforts to simplify data sharing, address consent challenges, and establish a standardized approach, the AA framework proves to be of substantial value for FinTech companies. Its role in implementing key rights outlined in the Digital Personal Data Protection Act, 2023 (“DPDPA”) positions it as a contributor to a user-centric, secure, and efficient approach to future financial data management. This article aims to examine the benefits that the AA framework offers, highlighting its role in shaping financial data management practices in India.
Please click here to read the full article by Probir Roy Chowdhury, published in ET Edge Insights.
Probir specializes in Corporate Commercial, Venture/Private Equity and Information Technology/FinTech. He has been involved in corporate transactions focused on the high technology industry including cross border Mergers & Acquisitions.