Cygnet Account Aggregation Pvt. Ltd. is an RBI-licensed Account Aggregator headquartered in Ahmedabad, Gujarat. The company was incorporated in February 2020 and received in-principle approval in October 2022 to operate as an NBFC-AA. It is part of the wider Cygnet group, which provides technology and compliance solutions in areas such as GST, financial reporting, and digital transformation, and has now extended its capabilities into the AA framework.
An Account Aggregator is a framework introduced by the Reserve Bank of India (RBI) that allows users to share their financial data digitally and securely, with consent. Instead of manually submitting physical statements, users can grant approval online, making the process faster and safer.
Cygnet provides Account Aggregator services under the RBI framework, allowing users to link their bank and financial accounts and share information securely with consent. Through its app and portal, individuals and businesses can manage consents, track data-sharing history, and revoke access whenever they choose.
In addition to consumer-facing AA services, Cygnet also offers integration support for Financial Information Providers (FIPs) and Financial Information Users (FIUs). As part of its role in the ecosystem, it provides APIs and onboarding tools that help banks, insurers, and fintechs connect to the AA network without building the infrastructure themselves.
The company is also listed with Sahamati as a Technology Service Provider (TSP), offering modules that assist institutions with data connectivity, consent management, and compliance. This dual role of providing both AA services and technical enablement makes Cygnet distinct in the ecosystem.
This consent-driven process ensures data is always shared securely, with full transparency and control in the hands of the user.
Cygnet helps lenders speed up loan underwriting by enabling access to verified financial data directly from user-linked accounts. This reduces reliance on physical statements and makes credit decisioning faster and more accurate.
Fintechs building personal finance or wealth tools can use Cygnet’s infrastructure to pull consolidated financial information, with user consent, from multiple institutions. This helps them create products that give customers a single view of their finances.
Financial Information Providers such as banks and insurers can also use Cygnet’s modules to quickly onboard into the AA framework. By relying on Cygnet’s APIs and compliance-ready workflows, they avoid the cost and effort of developing their own infrastructure.
Through these use cases, Cygnet supports both financial institutions and fintechs in adopting the AA ecosystem and delivering consent-driven digital services.
As a user, you may not directly interact with Cygnet since it does not have its own consumer app. Instead, you will come across Cygnet’s services when financial institutions you deal with are connected to the AA network through its platform.
When applying for a loan or credit card, your bank or NBFC may use Cygnet’s infrastructure to fetch your bank statements or transaction history digitally once you give consent. This replaces the need to submit physical documents and helps your application move faster.
If you use a fintech app that provides personal finance or wealth tracking features, it may rely on Cygnet’s technology to access your consented data from different financial institutions. You experience this as a smoother, integrated service inside the app.
In daily life, Cygnet’s role is to make sure that whenever you share financial data with consent, the process is secure, seamless, and invisible in the background.
A key benefit of Cygnet is that it operates not only as an Account Aggregator but also as a Technology Service Provider (TSP) listed with Sahamati. This means it offers ready-made modules for FIPs and FIUs such as consent flows, onboarding, and compliance checks so institutions can connect to the AA framework without building their own systems from scratch.
Another unique strength is Cygnet’s background in tax and compliance technology through the wider Cygnet group, which has expertise in GST, e-invoicing, and financial reporting. This background gives it a strong foundation in handling regulated data flows, something many other AAs do not have.
Cygnet also differentiates itself by providing enterprise-grade integration support. Instead of only serving consumers, it focuses heavily on helping large banks, insurers, and fintechs adopt AA quickly with minimal technical hurdles, positioning itself as both a service provider and an enabler of the ecosystem.
Cygnet differs from newer players like INK and OMS Fintech, which were set up solely to operate as Account Aggregators. While these AAs mainly provide consumer-facing consent journeys, Cygnet combines its AA role with being a Technology Service Provider. This allows it to go beyond consent management and offer backend tools to financial institutions that want to integrate with the AA framework.
Compared to NADL, which carries government backing under NeSL, Cygnet comes from a private-sector technology background. Its roots in GST and e-invoicing solutions give it expertise in managing regulated data flows, making it stand out among AAs that do not have such compliance-driven history.
When placed alongside early movers like CAMSFinServ, Cygnet positions itself as a more modern, infrastructure-oriented entrant. While CAMS leverages its deep financial industry network, Cygnet emphasizes enterprise-grade integrations and technical enablement, which makes it attractive to banks, NBFCs, and fintechs seeking faster adoption of the AA ecosystem.
Cygnet Account Aggregation is an RBI-licensed Account Aggregator based in Ahmedabad, Gujarat. It enables secure, consent-driven sharing of financial data between institutions.
Cygnet was incorporated in February 2020 and received in-principle approval from the Reserve Bank of India in October 2022 to operate as an NBFC-AA.
No. Unlike some AAs, Cygnet does not offer a direct-to-consumer app. Its focus is on enabling banks, NBFCs, insurers, and fintechs to integrate with the AA framework.
Cygnet provides Account Aggregator services and also functions as a Technology Service Provider (TSP), offering APIs, onboarding workflows, and compliance modules for FIPs and FIUs.
Yes. SMEs can share transaction data through institutions that use Cygnet’s infrastructure, making it easier to access loans or other financial services.
Cygnet stands out because it combines its AA licence with its role as a TSP. This allows it to provide both regulated data-sharing services and backend technology for institutions joining the AA ecosystem.
Yes. The AA framework is a regulatory initiative of the Reserve Bank of India, and Cygnet operates within this framework for Indian financial institutions and users.
Its roadmap includes expanding coverage to more financial data sources, enabling end-to-end digital lending, introducing faster onboarding for institutions, and strengthening analytics tools.
Yes. NRIs with Indian financial accounts can share data through institutions connected to the AA network, provided their banks or FIPs are integrated via Cygnet.
Cygnet Account Aggregation Pvt. Ltd. has established itself as a distinctive player in the Indian AA ecosystem by combining its role as a licensed AA with that of a TSP. With roots in tax and compliance technology through the wider Cygnet group, it brings strong expertise in regulated data flows and enterprise integration, making it an important enabler for financial institutions entering the AA framework.
Looking ahead, Cygnet is expected to expand its coverage of financial data sources, strengthen analytics, and simplify onboarding for banks, NBFCs, and fintechs. By focusing on backend infrastructure and compliance-driven services rather than consumer-facing apps, it is positioned to play a key role in scaling the AA ecosystem in India and supporting the delivery of faster, more transparent financial services.
<p>Protean Account Aggregator Ltd., operating under the brand SurakshAA, is an RBI-licensed Account Aggregator headquartered in Mumbai, Maharashtra. Incorporated in…</p>
<p>Saafe, operated by Dashboard Account Aggregation Services Pvt. Ltd., is an RBI-licensed Account Aggregator headquartered in Mumbai, Maharashtra. Incorporated in…</p>