CRIF Connect is based in Pune, Maharashtra, and was incorporated in 2019 to provide Account Aggregator services. The company received its NBFC-AA license from the RBI in March 2023. It is a subsidiary of CRIF S.p.A., a global credit bureau and analytics company headquartered in Bologna, Italy, which also operates CRIF High Mark in India.
This blog takes a closer look at CRIF Connect, explaining how it operates within the Account Aggregator ecosystem, the unique services it delivers, and the value it creates for consumers, small businesses, and financial institutions alike.
| Aspect | CRIF Connect Overview |
|---|---|
| Parent Organization | Operated by CRIF, a global leader in credit bureau and business information services. |
| Core Services | Account Aggregator services, credit bureau integration, risk assessment, and data analytics. |
| Target Users | Banks, NBFCs, fintechs, insurers, investment platforms, and individual consumers. |
| Differentiator | Combines regulated AA framework with CRIF’s global expertise in credit scoring and financial data solutions. |
| Use Cases | Income and cashflow verification, loan underwriting, credit monitoring, personal finance management, and SME lending support. |
| Market Position | Emerging as a strong AA player in India, leveraging its trusted credit bureau background. |
An Account Aggregator is a framework introduced by the Reserve Bank of India (RBI). It allows users to share their financial data digitally and securely, with consent. Instead of uploading documents or statements, users can grant access through a simple and secure process. If you want to learn more Account Aggregator we have made a comprehensive guide.
CRIF Connect Account Aggregator combines RBI-regulated data-sharing with CRIF’s trusted credit intelligence to deliver secure, seamless, and insight-driven financial services. Its offerings benefit consumers, Financial Information Providers (FIPs), and Financial Information Users (FIUs) alike.
• Unified Financial Overview
CRIF Connect allows users to view balances, deposits, investments, loans, and transactions from multiple banks and financial institutions in a single, easy-to-understand dashboard. This enables better financial tracking and smarter decision-making.
• Granular Consent Management
Users remain fully in control of their financial data. CRIF Connect provides transparent tools to:
Approve or deny data requests
Pause or revoke sharing anytime
Set data-sharing purpose and validity period
This ensures complete transparency and strong data privacy.
• Secure & Standardized Data-Sharing Framework
CRIF Connect enables banks, NBFCs, insurers, mutual fund companies, and other FIPs to share user-authorized financial information safely and reliably. All exchanges follow the RBI’s Account Aggregator guidelines, ensuring accuracy, standardization, and high compliance.
• Enhanced Insights with Credit Intelligence
FIUs—including lenders, fintech platforms, and wealth managers can combine AA-sourced financial data with CRIF’s credit bureau insights. This results in richer, more actionable intelligence for:
Credit assessments
Risk profiling
Underwriting
Wealth and investment advisory
CRIF Connect merges account aggregation, advanced consent management, and CRIF’s proven credit analytics into a single platform. This makes it highly valuable for:
Individuals looking for a unified money-management tool
Institutions seeking reliable, data-driven decision support
The result is a more transparent, efficient, and intelligent financial ecosystem.
CRIF Connect Account Aggregator operates on a fully consent-driven and RBI-regulated framework. The process ensures that users maintain complete control over their financial data while financial institutions receive accurate, verified information instantly. Here’s how it works step by step:
The process begins when a user applies for a loan, credit card, investment, or any financial service on a website or mobile app.
To assess eligibility, the platform asks for access to the user’s financial information such as bank statements, deposits, or transaction data through CRIF Connect Account Aggregator.
A consent screen is shown to the user, clearly detailing:
What financial data will be shared
The specific purpose for data usage
The duration for which consent remains valid
This transparency ensures that users know exactly how their data will be used.
The user selects the bank accounts to link, verifies with an OTP, and approves the consent request. Data is shared only after explicit user permission.
CRIF Connect securely retrieves the required financial information from the respective Financial Information Provider (FIP) such as a bank or insurance provider.
The encrypted financial data is shared with the requesting Financial Information User (FIU) for example, a lender, fintech platform, or wealth app—to enable faster, more accurate decision-making.
Users have complete control and can pause or revoke data-sharing at any moment, instantly stopping further data flow.
CRIF Connect Account Aggregator is trusted by leading banks, NBFCs, and fintech platforms across India. By combining the RBI-regulated AA framework with CRIF’s global expertise in credit insights and risk analytics, it helps institutions offer faster, smarter, and more personalized financial services.
• Better Access to Credit
Lenders use CRIF Connect to instantly access verified transaction data, enabling quicker approvals, deeper income analysis, and support for new-to-credit customers who lack traditional credit history.
• Financial Management Apps
Personal finance and wealth apps rely on CRIF Connect to aggregate financial data from multiple institutions, helping users track spending, view investments, and manage their financial life in one place.
• Personalized Banking Solutions
Banks use AA data paired with CRIF’s credit intelligence to create hyper-personalized offers, targeted financial products, and improved customer journeys.
• MSME Credit Workflows
CRIF Connect supports small businesses by enabling lenders to assess cash flow, GST-linked insights, and bank statement data quickly—helping MSMEs access credit more efficiently.
By linking verified financial data with CRIF’s powerful analytics, CRIF Connect helps financial institutions:
Strengthen risk assessment
Serve underbanked and new-to-credit customers
Streamline onboarding and underwriting
Build smarter, data-driven financial products
Meanwhile, users retain full control through transparent, consent-based data sharing.
CRIF Connect Account Aggregator offers powerful advantages for lenders, fintechs, and consumers by combining secure data-sharing with CRIF’s industry-leading credit insights. Here are the key benefits:
One of CRIF Connect’s strongest differentiators is its ability to integrate AA-sourced financial data with CRIF’s existing credit bureau and risk analytics.
This gives financial institutions a holistic and accurate view of a customer’s financial health, enabling:
Better income and cash-flow analysis
More precise credit scoring
Faster and more reliable lending decisions
Reduced fraud and manual verification errors
Small businesses often struggle to access credit due to limited documentation or thin credit files. CRIF Connect addresses this by supporting GST-linked data flows along with aggregated bank statements.
This results in:
Deeper insight into business turnover and cash flow
Fairer assessments for SMEs and MSMEs
Faster loan processing for small businesses
Improved credit availability for underserved segments
With CRIF’s powerful analytics engine, financial institutions can use AA data to deliver highly personalized and relevant financial solutions, such as:
Custom loan offers based on real income patterns
Smarter investment and portfolio recommendations
Better risk-adjusted products for users
Tailored banking experiences across channels
This helps fintechs and banks improve customer engagement while ensuring users receive services that truly match their financial needs.
| Factor | CRIF Connect | Finvu | Setu | CAMSFinServ | OneMoney |
|---|---|---|---|---|---|
| Network Coverage | Part of CRIF, headquartered in Pune they have 31 FIPs live with them | Backed by VCs, headquartered in Pune they have 61 FIPs live with them | Backed by Pine Labs, headquartered in Bengaluru and they have 18 FIPs live with them | Part of MF registrar CAMS, they are Headquartered in Chennai and 61 FIPs live with them | Headquartered in Hyderabad with the highest number of FIPs live: 88. |
| Data Handling | Combining their Credit rating data with this gives NBFC more power for risk Assessment | offers unique AA IDs to customers to simplify customer journey end-to-end | Tech-first approach with API-driven infrastructure they are optimized for smooth plug-and-play integrations. | Primarily compliance-focused, handling financial data with high security and oversight. | Provides encrypted real-time data with APIs and SDKs for decision insights. |
| Role & Flexibility | Using the AA framework with its in-house TSP gives many roles to choice from | Acts as an AA catering to fintechs and institutions, also have a in-house TSP | Developer-friendly AA designed for fintech adoption with highly flexible in integrations. Uses the network of Pine Labs for supplementary services | Natural fit for traditional institutions like banks, insurers, and asset managers. | Helps NBFCs with credit risk assessment using multiple data points. |
| Differentiators | Unique in combining credit bureau expertise with AA data flows for detailed lending insights | Early VC support & really large number FIPs onboarded 61 | Blends regulatory compliance with fintech-first usability, Pine Labs’ backing also connects it to many merchants | Trusted financial record-keeper, compliance-first with decades of credibility. | First AA in India and with the highest number of FIPs onboarded: 88. |
CRIF Connect Account Aggregator is evolving rapidly to support deeper financial insights, better credit access, and more personalized digital banking. Its roadmap focuses on strengthening data intelligence and expanding value for both individuals and businesses.
• Closer Integration with CRIF High Mark Credit Bureau
In the near term, CRIF Connect aims to deepen its integration with CRIF High Mark’s credit bureau data.
This will allow lenders to use AA financial data + credit bureau information simultaneously, helping them:
Build more accurate and reliable credit models
Improve underwriting speed and precision
Enhance fraud detection and risk scoring
• Stronger Solutions for MSMEs
The platform plans to expand its MSME-focused offerings by combining GST data with bank account transaction flows.
This will help lenders:
Assess real-time turnover and repayment capacity
Support small businesses with limited credit history
Make lending more inclusive and data-driven
By improving visibility into business performance, CRIF Connect can help MSMEs access credit faster and more fairly.
• Analytics-Driven Personalization for Banks & Fintechs
In the long run, CRIF Connect aims to leverage its AA data and CRIF’s analytics engine to deliver hyper-personalized financial services. This includes:
Tailored loan and credit products
Smarter financial and investment advice
Risk-adjusted recommendations optimized for each user
This personalization will empower financial institutions to create more meaningful customer experiences while helping users make better financial decisions.
Ans: CRIF Connect is an RBI-licensed Account Aggregator based in Pune. It is operated by CRIF S.p.A., a global credit bureau and analytics company headquartered in Bologna, Italy.
Ans: CRIF Connect received in-principle approval in February 2022 and was granted its NBFC-AA license by the RBI in March 2023.
Ans: CRIF Connect allows users to link accounts across banks, deposits, pensions, and investments. It also offers consent management tools and supports data flows for lenders, insurers, and wealth platforms.
Ans: Unlike most AAs, CRIF Connect is backed by a global credit bureau. This gives it the ability to combine AA data with bureau insights, supporting stronger credit decisions and more personalized services.
Ans: You may see CRIF Connect during loan applications, investment onboarding, or when using digital finance apps. It appears as a consent screen where you approve what data to share and for how long.
Ans: Yes. By combining GST-linked data with account flows, CRIF Connect is working to make it easier for MSMEs to access credit.
Ans: CRIF Connect is part of the CRIF group, which also operates CRIF High Mark, one of India’s licensed credit burees. Together they create a stronger ecosystem by combining account aggregation with bureau insights.
Ans: Banks, NBFCs, insurers, wealth platforms, and fintech companies can integrate with CRIF Connect through its APIs to access verified financial data with user consent.
Ans: CRIF Connect differentiates itself through its global credit bureau expertise, combining account aggregation with risk analytics, while older AAs focus mainly on data transfer alone.
CRIF Connect brings together the strengths of an RBI-licensed Account Aggregator with the global credit expertise of the CRIF group. By combining account aggregation with bureau analytics, it offers financial institutions a more complete picture of customer risk and financial health.
Looking ahead, CRIF Connect is set to play a bigger role in lending, MSME financing, and personalized financial services. With its focus on deeper integration, risk-based insights, and user-controlled data flows, it is positioned to help banks and fintechs deliver fairer credit access and smarter financial products in India’s evolving digital ecosystem.
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