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

PB Financial Account Aggregator Pvt. Ltd. is an RBI-licensed Account Aggregator based in New Delhi. Incorporated in 2019, it received its NBFC-AA license in March 2023 and is promoted by Punjab National Bank (PNB), one of India’s largest public sector banks. By extending PNB’s trusted legacy into digital data sharing, PB Financial aims to help individuals and businesses share financial information securely for faster credit and financial services.

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 PB Financial Account Aggregator

• Account Aggregator Services: Lets users securely share their financial data with regulated institutions through encrypted, consent-driven channels. Users have full control over what data is shared, when, and with whom.
• Support for Lending Platforms: As part of the PB Fintech group, PB Financial enables platforms like Paisabazaar and other lending partners to access verified customer financial information such as bank statements and credit history to make faster and more reliable credit decisions.
• Seamless Digital Experience: The platform focuses on simplicity and ease of use with a clear consent flow. Data sharing is encrypted, real-time, and tamper-proof, ensuring information moves safely between financial institutions.

By combining secure AA services with integration into the PB Fintech ecosystem, PB Financial extends beyond a utility and positions itself as a natural enabler of digital lending and financial services.

How PB Financial Account Aggregator Works ?

PB Financial acts as a bridge between users and financial institutions, allowing data to be shared securely with full consent. The process works as follows:

• A financial institution such as a bank, NBFC, or lending platform requests specific financial data through PB Financial.
• The user is shown a consent screen explaining what data is being requested, why it is needed, and how long it will be accessible.
• The user selects the accounts they wish to share and confirms consent using secure authentication.
• PB Financial fetches the requested data directly from connected financial institutions and delivers it safely to the requesting platform.
• Users can track and manage their consent journeys through the financial platform they are interacting with, since PB Financial currently works in the background and does not operate a standalone user app.

This consent-driven process ensures data is always shared securely, with transparency and control resting in the hands of the user.

Use Cases of PB Financial Account Aggregator for Fintechs

PB Financial is designed to support lending and credit services within the PB Fintech ecosystem and beyond. Its strongest use cases include:

• Loan Applications on Paisabazaar: Customers applying for personal or business loans through Paisabazaar can have their financial data shared securely with lenders, reducing delays and making approvals faster.
• Credit Access for Thin-File Customers: For users with little or no credit history, PB Financial helps lenders access real financial records like bank transactions and income flows, improving the chances of loan approval.
• Better Risk Assessment for Lenders: By receiving verified data directly, lenders on platforms connected to PB Financial can make more accurate credit decisions, lowering the risk of defaults.
• Support for Business Borrowers: Small enterprises using Paisabazaar for loans can share their financial data through PB Financial, enabling smoother access to working capital and business credit.

Where Can You Use PB Financial Account Aggregators in Daily Life?

PB Financial works in the background, enabling data sharing without the need for its own app or direct user interface. It mainly comes into play during financial activities where quick and verified data access is important.

• Applying for Loans on Paisabazaar: When users apply for personal or business loans through Paisabazaar, PB Financial allows their financial data such as bank transactions and income details to be shared securely with lenders. This makes the loan process smoother and approvals faster.
• Tracking Finances with PB Fintech Platforms: PB Fintech also offers tools like PBMoney, where PB Financial helps consolidate information such as bank balances, mutual funds, and stock holdings into one place, giving users a better view of their overall financial health.
• Helping New-to-Credit Customers: Individuals or small businesses with limited credit history can use PB Financial to share their verified financial records with lenders, improving their chances of accessing formal credit.

Client Adoption: At present, PB Financial mainly serves PB Fintech’s own platforms, including Paisabazaar.

Benefits of Using PB Financial Account Aggregator

A key benefit of PB Financial is its integration with Paisabazaar, where it powers faster and more reliable loan journeys by providing lenders with verified financial data. For customers, this means fewer delays and less paperwork when applying for credit, even though they never interact with PB Financial directly.

Another strength is its role in supporting thin-file and new-to-credit borrowers. By enabling lenders to access income and transaction data through consent, it helps extend credit to individuals and businesses who lack traditional records.

It is also important to note that PB Financial is not designed as a consumer-facing product. Instead, it works in the background and is used by businesses, lenders, and platforms that integrate it into their services. Looking ahead, it plans to expand into investment advisory and money management solutions, making it a more complete enabler of financial services within the PB Fintech ecosystem.

Comparison with Other AAs

Most Account Aggregators such as Setu, Finvu, and others position themselves as broad platforms that serve individuals, wealth managers, and fintech apps. PB Financial is different because it is closely tied to the PB Fintech ecosystem and is mainly used to power lending journeys through Paisabazaar.

Other AAs have their own focus areas. CAMSFinServ is strong in mutual fund and investment data because of its background in registrar services. CRIF Connect uses its expertise in credit bureau data to support lenders with detailed credit reports. In contrast, PB Financial is centered on lending, particularly helping borrowers with limited or no credit history access formal credit through Paisabazaar.

It is also important to note that PB Financial is not a consumer-facing product. While some AAs provide apps for individuals, PB Financial works in the background and is used by businesses, lenders, and platforms that integrate it into their services.

Future Roadmap of PB Financial Account Aggregators

PB Financial continues to evolve its role within the broader PB Fintech ecosystem and expand into new financial capabilities:

• Stronger role in lending: It plans deeper integration with Paisabazaar to make loan journeys smoother and extend credit access to a broader segment of borrowers.
• Investment advisory and wellness tools: The platform is expected to move beyond credit support by offering investment advice and financial wellness tools, enriching the user experience.
• Expansion into new financial services: Beyond lending, PB Financial aims to support emerging business requirements, such as data-driven solutions for enterprises.
• Linking with payments: With PB Pay (PB Fintech’s payment aggregator) coming up, PB Financial may eventually integrate lending, payments, and advisory into one seamless ecosystem.
• Scaling with PB Fintech’s growth: As PB Fintech broadens into insurance, payments, and healthcare, PB Financial will expand its influence in tandem.
• Venturing into healthcare-backed services: As part of PB Fintech’s larger ambitions, PB Financial could one day support credit and advisory needs tied to healthcare expenses and offerings.

PB Financial remains only one part of this broader strategy. The bigger vision is to develop new business verticals and build the PB Fintech brand as a diversified financial services platform, not just an Account Aggregator.

FAQs on PB Financial Account Aggregators

1. What is PB Financial?

   PB Financial Account Aggregator Pvt. Ltd. is an RBI-licensed Account Aggregator promoted by PB Fintech, the parent company of Paisabazaar and PolicyBazaar. It enables secure sharing of financial data with consent.

2. When did PB Financial receive its license?

   PB Financial was incorporated in 2019 and received its NBFC-AA license from the Reserve Bank of India in March 2023.

3. Who owns PB Financial?

   PB Financial is part of PB Fintech, the group that operates Paisabazaar and PolicyBazaar.

4. Is PB Financial meant for consumers?

   No, PB Financial is not a direct consumer-facing app. It works in the background and is mainly used by businesses, lenders, and platforms such as Paisabazaar that integrate it into their services.

5. How does PB Financial help borrowers?

   By allowing lenders to access verified financial data with consent, PB Financial helps borrowers get faster loan approvals and improves access for those with little or no credit history.

6. What makes PB Financial different from other Account Aggregators?

   Unlike general AAs that serve a wide variety of use cases, PB Financial is designed specifically to power lending journeys in the PB Fintech ecosystem, especially on Paisabazaar.

7. Does PB Financial store my data?

   No, PB Financial does not store user data. It only acts as a secure channel to transfer information between financial institutions with user consent.

8. What are the future plans of PB Financial?

   PB Financial plans to expand beyond lending support into areas like investment advisory, payments integration, and financial wellness tools as part of PB Fintech’s larger strategy.

9. Can individuals outside Paisabazaar use PB Financial?

   Currently, PB Financial is primarily used within the PB Fintech ecosystem. As the network grows, it may support more external use cases in the future.

10. Is PB Financial safe to use?

    Yes, PB Financial follows the RBI’s Account Aggregator guidelines. All data transfers are encrypted and consent-driven, ensuring security and privacy.

PB Financial has been set up as part of PB Fintech’s push to expand into regulated financial services. With its RBI license, it plays a specialized role in powering lending journeys within the Paisabazaar platform. Unlike many other Account Aggregators that cater broadly to individuals or wealth use cases, PB Financial is positioned as a behind-the-scenes enabler that strengthens credit access and makes loan approvals smoother for borrowers.

Looking ahead, PB Financial is expected to evolve beyond lending by supporting investment advisory, financial wellness, and even payments integration. While the Account Aggregator is one important piece of the puzzle, the larger vision is for PB Fintech to create multiple verticals and grow as a diversified financial services brand rather than focusing on any single firm.