Account Aggregator Stack
- A unified API to manage consent and data flow from the financial institutions to consumers.
Some terms and definitions
- FIU : Financial Information Users
- FIP : Financial Information Providers
- AA : Account Aggregators
A account aggregator FIU has to go through 3 major steps
- Request consent: Initiate a request consent. And wait for the user to the Account aggregator app and approve the
consent and come back to the app and say the consent step is complete. In the background, A consent artifact was
generated for us, can be got using the account ID and product ID.
- Request consent list: Pass in your account ID and product ID, you will get a list of consents given for this
particular combination. If the customer has actually given consent, it will show up here. One important field in the
response here is the consent ID. This is critical for making the next set of requests.
- Request FI data: Now since we have the consent ID, we use the consent ID to get the financial data of the customer. We
get back a lot of transaction data from these guys.