Digi Account Aggregator: Services, How it Works, Use Cases and Benefits

Digio Internet Pvt. Ltd., headquartered in Bengaluru, Karnataka, was incorporated in December 2021 and received its NBFC-AA license from the Reserve Bank of India soon after. The entity was specifically set up to operate as an Account Aggregator under the brand name DigiAA, building on Digio’s earlier work since 2016 in digital onboarding solutions such as Aadhaar e-sign, eKYC, and paperless mandates. The company is backed by prominent investors including Groww and Rainmatter Capital (the investment arm of Zerodha).

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.

Services Offered by Digi Account Aggregator 

• Digital Onboarding Solutions: Aadhaar e-sign, eKYC verification, and paperless NACH/UPI mandates form the foundation of Digio’s offerings, helping banks, NBFCs, insurers, and fintechs onboard customers quickly and securely.
• Consent Management Frameworks: Tools that make it simple for users to grant, monitor, or revoke data-sharing permissions, while giving institutions a compliant way to handle consent at scale.
• Multi-AA Gateway: A single integration layer that allows financial institutions to connect with multiple Account Aggregators at once, improving coverage and reducing technical effort.
• Account Aggregator Services: Under the DigiAA license, Digio provides secure, consent-based financial data sharing across banks, investments, and insurance. This is offered as a supplementary service built on top of its legacy digital onboarding stack, rather than as a separate business line.

Together, these services position Digio as a complete digital infrastructure provider, combining onboarding, consent, integration, and AA capabilities in one package.

How DigiAA Works ?

• A financial platform (like a bank, NBFC, or fintech app) requests a customer’s financial information through Digio.
• A consent screen is displayed, showing what data is being requested, the purpose of use, and the duration of access.
• The user selects which accounts to share and confirms consent using OTP.
• Digio retrieves the data directly from the respective financial institutions (FIPs) and securely delivers it to the requesting institution (FIU).
• At any point, the user can view active consents and revoke access instantly if they choose.

This consent-driven process ensures data is safe, transparent, and fully under user control.

Use Cases of DigiAA Account Aggregator for Fintechs

• Seamless Customer Onboarding: Fintechs, banks, NBFCs, insurers, and capital markets firms use Digio’s Aadhaar e-sign, eKYC, DigiDocs, and DigiSign to simplify onboarding workflows, making identity and document verification secure, fast, and compliant.
• Automated Recurring Payments: Platforms rely on DigiCollect (NACH and UPI mandates) to set up and manage recurring payments with minimal manual effort while meeting regulatory standards.
• Account Verification for KYC/AML: Digio’s Bank Account Verification API is used by financial institutions to verify account details such as penny-drop, IFSC, or VPA checks for both KYC and AML compliance.
• Account Aggregator Integration: As a licensed NBFC-AA under DigiAA, Digio provides consent-based access to financial data that supports loan underwriting, portfolio aggregation, and risk assessment.

Together, these use cases show how Digio enables fintechs to manage customer onboarding, recurring payments, compliance, and data integration within a single ecosystem.

Where Can You Use Digi Account Aggregator in Daily Life?

• Opening an account: When you open a bank, trading, or investment account online, Digio may be the tool in the background helping verify your identity and letting you sign forms digitally.
• Applying for a loan or insurance: Instead of printing and signing papers, many lenders and insurers use Digio so you can sign agreements on your phone and share account details safely.
• Setting up regular payments: If you start a SIP, pay insurance premiums, or subscribe to a service, Digio can handle the UPI or NACH mandate that lets payments run automatically every month.
• Sharing financial data: When asked to share your bank or investment records for a loan or financial product, Digio’s Account Aggregator helps you give consent and send data directly from your accounts.
• Using finance or budgeting apps: Some personal finance apps rely on Digio to show your balances, investments, and spending in one place so you can track money better.
• Running a small business: MSMEs can use Digio to share data with lenders for working capital, or to set up automatic collections from customers.

In short, Digio shows up in many day-to-day money tasks—whether you’re opening an account, paying regularly, signing a form, or sharing data for credit.

Benefits of Using Digi Account Aggregator

Digio makes many financial tasks faster and more reliable. Services like Aadhaar eKYC, e-sign, and UPI or NACH mandates allow people to open accounts, sign loan or insurance forms, and set up SIPs online without paperwork. This saves time and avoids errors that come with manual processes.

Its Account Aggregator service puts users in full control of their financial information. You decide what data to share, with whom, and for how long. Consent can be withdrawn at any time, and all information is transferred securely, ensuring privacy at every step.

For banks and fintechs, Digio combines onboarding tools with Account Aggregation in one place. Institutions receive verified identity checks, digital signatures, payment mandates, and financial data in a standard format. This makes it easier to review applications, assess credit, and provide services without repeated requests for documents.

Comparison with Other Account Aggregators

Digio stands out among India’s Account Aggregators because it did not just set out to be a data-sharing platform. Unlike AAs that focus purely on moving financial information between institutions, Digio already offered tools for identity verification, digital signing, and payment mandates before gaining its RBI license. That background gives it a wider role, serving both as a digital onboarding platform and as an Account Aggregator.

While many AAs offer only the ability to collect and deliver financial data, Digio combines that with services used every day such as Aadhaar-based eKYC, e-signing documents, and handling payment mandates. This makes it more of a complete infrastructure partner for banks and fintechs.

Most other AAs concentrate on making secure and RBI-compliant data exchange possible. Digio, by contrast, fits into more of the customer journey. It provides the tools institutions need to bring someone on board, set up automatic payments, and share financial information, all in one platform.

This means Digio supports a wider set of use cases, serving individuals who need quick, paperless onboarding, and businesses that want automated workflows. Its combined approach makes it less of a standalone AA and more of an integrated digital infrastructure provider.

Future Roadmap of DigiAA

• Wider FIP coverage: Digio aims to expand connections with more banks, insurers, and investment platforms so that users and institutions can access a broader range of verified financial data.
• Support for small businesses: By combining mandate solutions with Account Aggregator data, Digio is expected to make it easier for SMEs to prove cash flow and qualify for working capital.
• Better payment automation: The company plans to strengthen its NACH and UPI mandate systems so that recurring payments for SIPs, insurance, and subscriptions become even smoother.
• Richer financial insights: With data from both onboarding tools and AA services, Digio can help institutions create clearer views of customer profiles for credit, investment, and risk management.
• Improved user awareness: Since many people are still new to AAs, Digio is likely to invest in education and simpler user flows so customers understand and trust consent-based data sharing.

These priorities suggest that Digio is positioning itself not only as an Account Aggregator but also as a broader digital infrastructure player that supports both individuals and businesses.

FAQs on Digi Account Aggregator

1. What is DigiAA?

   DigiAA is the RBI licensed Account Aggregator operated by Digio Internet Pvt. Ltd. It lets you share your financial data securely and only with your consent.

2. When did DigiAA get its license?

   Digio Internet Pvt. Ltd. was incorporated in December 2021 and received its NBFC-AA license from the Reserve Bank of India shortly after.

3. Who runs DigiAA?

   It is operated by Digio Internet Pvt. Ltd., based in Bengaluru, and supported by investors like Groww and Rainmatter Capital (Zerodha’s fund).

4. What does DigiAA offer?

   DigiAA enables consent-driven sharing of financial data across your banks, investments, insurance, and more. It builds on Digio’s earlier tools such as eKYC, e-sign, and UPI/NACH mandates for a seamless and secure experience.

5. Does DigiAA store my financial data?

   No, DigiAA does not store your data. It acts as a secure channel that passes information from one institution to another with your approval.

6. How is DigiAA different from other Account Aggregators?

   DigiAA is more than just a data-sharing service. It is built on top of Digio’s onboarding infrastructure, letting users and institutions complete identity checks, digital signatures, payments, and data exchange in one place.

7. What is DigiAA focusing on in the future?

   The roadmap includes expanding connections with more banks and insurers, helping SMEs access credit more easily, and making consent-based data sharing simpler for everyday users.

8. Where might I encounter DigiAA in everyday life?

   You might see DigiAA when applying for loans or insurance, opening investment or banking accounts, or using finance apps that ask for verified account data.

DigiAA combines the strengths of an RBI licensed Account Aggregator with Digio’s long standing digital onboarding services. By offering tools such as eKYC, e-sign, mandates, and secure data sharing, it has positioned itself as more than just an AA and as a complete digital infrastructure provider. Its backing from trusted investors like Groww and Rainmatter Capital adds to its credibility in the financial services space.

Looking ahead, DigiAA is expected to play a bigger role in credit access, SME financing, and digital finance adoption. With its focus on speed, privacy, and reliability, it is well placed to support both individuals and institutions as India’s financial ecosystem continues to grow more digital and consent driven.