How AA framework is changing your financial life for the better
- Banks and insurers have started offering customers instant access to their financial products with AA ecosystem
Opening a bank account is usually the first step in your financial journey. And in India, there is no limit on the number of bank accounts that you can have, although financial advisers would have you open no more than three or four of them for ease of managing the accounts. Many people though end up opening separate accounts in multiple banks for various reasons, be it lower interest rate on home loans or for buying other financial products. A change in jobs, for instance, also leads to a new bank account as organizations usually tie-up with a particular bank for salary accounts. But multiple bank accounts can only lead to a fragmented view of your savings. That’s where the Account Aggregator (AA) framework will help you keep an hawk’s eye on all your accounts.