Account aggregation
Bringing a customer's accounts from several providers into one view, ideally through regulated data access.
Account aggregation is an industry term for bringing a customer's accounts from several providers into one view. Regulated routes exist for it, such as UK open banking, which the FCA describes as a secure and regulated way to share access to payments data with trusted apps, and the US personal financial data rights rule for authorised third parties. For agents, aggregation through scoped, revocable access is safer than screen scraping with the customer's credentials.
Agent Minute explains this term on 3 March 2027.
Related terms
Account information serviceAn online service providing consolidated information on a user's payment accounts held with other providers.Open bankingCustomers letting authorised third parties access their payment account data and initiate payments through secure APIs.Authorized third partyUnder the US data rights rule, a third party that has met the authorisation procedure to access a consumer's data.Screen scrapingA third party logging in with a customer's credentials to read data from the bank's customer interface.Permission dashboardA place where a customer sees and withdraws the data-access permissions they have granted.