TSP for Account Aggregator
Digitap is a certified TSP (Technology Service Provider) which develops modules to obtain Financial information of a customer (including the bank statement information) directly from the banks (through APIs) using Account Aggregator framework.
Get Free APIWhat are account aggregators
Account aggregators are RBI licensed NBFCs that enable the transfer of information of customer financial information from one Financial Institution to the other with the consent of the customer
Participants in the AA ecosystem
FIU
Financial institutions asking the customer to provide the financial information
FIP
Financial institutions providing the financial information of the customer
AA
RBI licensed NBFCs that facilitate the sharing of information from the FIP to FIU
TSP
Entities that implement the FIU and FIP modules as per the standards laid down by RBI
Digitap as TSP
- Digitap is a certified TSP that implements the FIU module, enables the certification of the module and provides analytics over and above the raw data shared by FIP
- As a TSP, Digitap has connectivity to all AAs
- Share a wider range of data points, including GST, Insurance, Mutual Funds, equity stocks, and more. Go LIVE with bank & GST analytics solution
End-to-end integrated solution
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For bank statement parsing, Digitap provides an integrated solution with the following modes to fetch data
- Netbanking
- PDF upload
- Fetch through AA
- Digitap will analyse the bank statement from above sources and provide the output containing the categorization and variables needed for credit underwriting
- Go LIVE with bank & GST analytics solution
Key Benefits
Significant cost reduction without any Tech effort for Clients (Tech Bandwidth)
With direct fetch from the source, the clients do not have to deal with fraudulent PDFs
As a TSP, Digitap has connectivity to all Account Aggregators to fetch data and then calculate variables necessary for credit underwriting (including categorization)
Digitap will provide a seamless UI to fetch bank statements from
- Netbanking
- PDF upload
- Through Account Aggregator
Ability to fetch the data multiple times thereby enabling risk monitoring during the duration of the loan
Ability to obtain the complete financial health of the customer and continuously monitor it