What is Account Aggregator, and why it’s safe

When you apply for a loan with LoanDidi, we ask to look at your bank statement — not because we're nosy, but because your real cashflow tells us far more about whether you can repay than any single number can. The way we do this safely is through the Account Aggregator (AA) framework, built and regulated by the RBI. Here's what it is, in plain words.

The old way vs the AA way

Earlier, sharing your bank data meant downloading PDF statements, sometimes handing over your net-banking password, or letting an app screen-scrape your account. All of that is risky. The Account Aggregator system replaces it with something cleaner: a secure, consent-based pipe between your bank and the lender — with you holding the tap.

How it actually works

1. You pick your bank inside an RBI-licensed Account Aggregator app.
2. The AA asks you to approve a specific request: "Share 6 months of statement for the purpose of a loan check."
3. You approve it with an OTP. The data flows directly from your bank to the lender — encrypted, end to end.
4. You can see, and revoke, that consent any time from the AA app.

Why it's safe — four guarantees

• You never share your password. The AA never asks for your bank login. Consent is given separately, with an OTP.
• It's purpose-bound and time-bound. You approve exactly what is shared, for what reason, and for how long — not blanket access.
• The AA can't read your data. By design, the Account Aggregator only carries the encrypted data; it cannot open or store it.
• It's revocable. Change your mind later? Withdraw consent in a couple of taps and the sharing stops.

At LoanDidi, we only ever request what's needed to judge your repayment capacity, and we never sell your data. The AA framework is what lets us lend responsibly to people with little or no CIBIL history — because your honest, day-to-day cashflow gets to speak for you.