Question
Which bank has become the 1st PSU bank to go live on
account aggregator ecosystem?Solution
Union Bank of India becomes the first public sector Bank to go live on the Account Aggregator Ecosystem for participating in Govt. of India’s Digital Initiatives. The Account Aggregator Ecosystem helps the Lenders to leverage on Digital data acquired with the consent from the Customers for providing them a seamless journey and eliminating the need of physical documentation. Financial Information User (FIU) can request for data from the Financial Information User (FIP) based on a simple consent given by the Customer on their Account Aggregator handle.
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