CRIF Connect Private Limited, a subsidiary of CRIF S.p.A recently received the approval to commence operations as an NBFC Account Aggregator (AA) from the Reserve Bank of India. With CRIF’s legacy, knowledge and experience, CRIF Connect is uniquely positioned to benefit both consumers and financial institutions, CRIF said in a release.
CRIF Connect is an end-to-end encrypted platform that securely fetches and transfers a consumer’s financial data based on their explicit consent between financial institutions. Thus, making data sharing extremely safe based on RBI-approved guidelines, it added in the release.
Wilfred Sigler, Senior Director – CRIF India and South Asia, said “We are pleased to receive the operating license to work as an NBFC Account Aggregator (AA). The Account Aggregator (AA) framework puts the customer in the centre of the ecosystem, giving them control of secured and hassle-free data sharing. It is a game-changer for increasing digital adoption, financial inclusion and providing financial services with higher operational efficiencies.”