Summary
An Account Aggregator is a secure system that allows Nance to access your financial data (like bank transactions) with your consent. It acts as a bridge between your bank and Nance—without sharing your login details.
How This Works in Nance
Nance uses the Account Aggregator (AA) framework to connect to your bank accounts in a secure, consent-driven way.
What is an Account Aggregator?
An Account Aggregator is a regulated financial data-sharing system in India that:
- Lets you share your financial data with apps like Nance
- Works only after you explicitly approve (consent)
- Does not store or misuse your data
Think of it as a trusted middle layer between your bank and Nance.
Why Nance Uses It
Nance uses the AA system to ensure:
- No sharing of bank credentials
→ You never give your username/password to Nance
- Secure OTP-based authentication
→ Your bank verifies you directly
- Read-only access
→ Nance can only view your transactions, not perform actions
- Consent-controlled data sharing
→ You decide what gets shared and can revoke it anytime
What Happens When You Connect a Bank
- You select your bank in Nance
- You approve a consent request via OTP
- The Account Aggregator securely fetches your data
- Nance receives your transaction data and starts syncing
All of this happens without exposing sensitive credentials.
Why This Matters
- Your financial data stays private and protected
- You remain in full control of access
- Nance can provide accurate insights without compromising security
No passwords. No shady access. Just clean, consent-based data flow.