For Financial Institutions
- Speed: The account aggregator framework allows faster and effortless collection of data. It simplifies the process of data sharing. This, in turn, enables faster decision-making, as well as quicker turnaround times for accessing and processing financial products and services.
- Authenticity: The account aggregator framework enables direct sourcing of data from registered entities within the AA network. Data sharing occurs only with explicit consent and is not accessed or stored by the AA system. This eliminates fraudulent data and the chances of data leakage, making the process secure and authentic.
- Cost Efficient: Crif Connect surpasses the overhead costs of paperwork, legwork, and manpower to collect data.
- Democratized Credit: The absence of credit history or the inability to provide collateral, certain categories of borrowers are frequently underserved. The account aggregator framework enables access to a wider range of the individual’s data, enabling a more comprehensive assessment of users’ creditworthiness and financial health.
