Terms & Conditions

Data privacy and security: Account Aggregators need to comply with data privacy regulations to ensure that the user’s financial data is collected, stored, and shared securely.
User consent and authorization: Regulatory frameworks require explicit consent from users before their financial data can be accessed and shared. The user is informed of this consent, which is revocable at any time.
Risk management and compliance: Account Aggregators may be required to implement risk management practices to mitigate the risk of data breaches, fraud, or unauthorised access. Compliance frameworks may include regular audits, reporting requirements, and penalties for non-compliance.
Consumer protection: Regulatory frameworks aim to protect consumers from abusive practices by Account Aggregators and misuse of their financial data. This may include requirements for transparent disclosures, dispute resolution mechanisms, and liability frameworks in case of data breaches or unauthorized transactions.
Licensing and registration: Regulators may require account aggregators to obtain licenses or registrations to operate legally. These licenses may be subject to specific criteria, such as financial stability, technical competence, and compliance with regulatory requirements.