India’s Account Aggregator ecosystem facilitates nearly 3.8 crore financial services in FY26

India's Account Aggregator ecosystem facilitated nearly 3.8 crore financial products and services in FY26 and has delivered over 45 crore cumulative consents and more than 500 crore data fetches, a report said on Wednesday.

The report from the industry alliance of India's Account Aggregator (AA) ecosystem -- Sahamati -- said the network now processes over 7 lakh consents daily and underlined AA ecosystem's evolution beyond credit underwriting into a broader financial services infrastructure.

India's Account Aggregator (AA) ecosystem has 5.96 crore Personal Finance Management users, a user base growing at a compound annual growth rate of 164 per cent since FY23.

Nearly 67.65 lakh futures and options accounts were verified via AA network in FY26, with 70–80 per cent of income verification at leading brokers conducted through the system.

Nearly 1.51 lakh life insurance policies were issued using AA during the fiscal year.

With nearly 6 crore users accessing AA-powered PFM experiences, banks, Registered Investment Advisors (RIAs), and wealth platforms are helping customers gain a consolidated view of their finances across bank accounts, investments, insurance, pensions, and other assets.

The report said that PFM is evolving from awareness and tracking towards insights, planning, and informed financial decision-making.

AA system is streamlining income verification and compliance workflows, reducing friction and turnaround times for investors in capital markets.

The report also highlighted use cases of the AA framework in compliance use cases, including monitoring for prevention of insider trading.

While insurance adoption remains at an earlier stage than lending or capital markets, the report identified encouraging signs of momentum as life insurers increasingly use consented financial data to improve underwriting outcomes for customers.

"The Account Aggregator ecosystem is demonstrating what becomes possible when individuals are empowered to control and use their own financial data," said BG Mahesh, CEO, Sahamati.

The long-term value of AA lies not just in enabling data sharing, but in helping individuals unlock better financial outcomes from their own data, he added.