What is Account Aggregator system in banking?

Bank News

The Account Aggregator (AA) system is a financial data exchange where banks, fintech, or NBFCs can exchange customer data after taking consent from such users. The entities which facilitate the data exchange are known as account aggregators. Under the account aggregator system, a lender who requests the data is called financial information user (FIU), and…

Solvency certificate why is it required?

Financial Analysis

Solvency is defined as the ability of an individual or entity to meet long-term financial commitments. A solvency certificate is a most important document that provides information about the financial stability of an individual or partnership firm or company. A solvency certificate is required for applying for tenders, obtaining contracts, Visa interviews, Legal/court matters like…