Anumati – India’s Fastest Growing Account Aggregator Network

Srikanth Rajagopalan

Updated on Jul 20, 2022

Already has the largest number of banks on its platform, PSU banks joining steadily 

With the launch of the Account Aggregation framework in India, the Reserve Bank of India (RBI) has successfully bridged the gulf between the demand and supply of retail lending. Credit can now percolate to a large volume of borrowers without a significant credit history. In 2016, RBI approved a new category of non-banking finance companies which could operate as Account Aggregators. Over the years, the framework has been refined, with better definition and understanding of AAs, leading to a public launch in September 2021. Account Aggregators (AA) are RBI-approved and regulated entities that help customers access their financial data securely and digitally from their banks and share it – if they so desire – with other participating financial institutions. The AA cannot “see” the data for themselves, which gives customers the peace of mind that only they are in control of their data. 

There are four parties in the account aggregation ecosystem – 

  1. The Data Principal – the end customer – who holds an account with a bank, AMC, Insurance provider, etc. 
  2. A financial institution where the customer holds an account. These are the FIPs. 
  3. A regulated institution which comes under the supervision of the Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), PFRDA, can be an FIU. Where relevant, FIUs also participate as FIPs 
  4. Account aggregators (AAs) are licensed entities that help Data Principals in safely accessing their data held by FIPs and share these data with FIUs of her choice. AAs are essentially consent managers. 

Fig. Data flow among FIPs, FIUs, users and account aggregators 

So, what’s special about Anumati? 

While the RBI has approved 6 AAs till date, Anumati is already the clear leader thanks to three key differentiators 

Spun off from Perfios Software, the market leader in extracting, aggregating, and analyzing data for over 250 financial institutions, Anumati speaks the FIU’s language. We understand what it takes to offer FIUs and customers a truly frictionless and safe experience while accessing and sharing sensitive data. 

Anumati is the largest single network of FIPs – 15 and growing – that collectively represent over 40% retail and SME accounts. We are working closely with several PSU Banks who are keen to join the network; when that happens, this number will grow exponentially! 

Anumati counts Bajaj Finserv, HDFC Bank, ICICI Bank, SBI as strategic investors. These institutions are the bedrock of India’s financial ecosystem and are committed to seeing Anumati becoming the largest and most trusted data network in India. 

For more information, drop us an email at  

Author Name: Srikanth Rajagopalan

Designation: CEO, Perfios Account Aggregation Services Pvt. Ltd.

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