Unacores AA Solutions Pvt. Ltd., operating under the brand name INK Account Aggregator (INK AA), is an RBI-licensed Account Aggregator based in Chennai, Tamil Nadu. Incorporated in November 2021, it received its AA licence from the RBI in September 2022. The company was established solely to provide AA services, with a clear focus on compliance, secure technology, and financial data privacy. This article explores how INK AA works, the range of services it offers, and the benefits it brings to both users and financial institutions.
Overview of INK Account Aggregator and its Services
| Aspect | INK Account Aggregator Overview |
|---|---|
| Parent Organization | Operated by Unacores AA Solutions Pvt. Ltd., based in Chennai, Tamil Nadu. |
| Core Services | Account Aggregator services with a focus on compliance, secure technology, and financial data privacy. |
| Target Users | Banks, NBFCs, fintechs, insurers, and other financial institutions seeking secure consent-based data sharing. |
| Differentiator | Established solely to provide AA services, with strong emphasis on regulatory compliance and data security. |
| Use Cases | Facilitating consent-driven data sharing for lending, verification, financial management, and digital onboarding. |
| Market Position | An RBI-licensed Account Aggregator (since September 2022), emerging as a dedicated and compliant AA player. |
What is Account Aggregator?
An Account Aggregator is a framework introduced by the Reserve Bank of India (RBI). It allows users to share their financial data digitally and securely, with consent. Instead of uploading documents or statements, users can grant access through a simple and secure process. If you want to learn more Account Aggregator we have made a comprehensive guide.
Services Offered by INK Account Aggregator
1. For Consumers
- INK provides a mobile app and web portal where users can register, link their bank and financial accounts, and approve or revoke consent requests. The app also allows them to track both active and past consents in one place.
2. For Financial Information Providers (FIPs)
- Banks, insurers, pension funds, and mutual funds can connect to the AA ecosystem through INK. Using secure APIs and infrastructure, these institutions share data with requesting entities strictly on the basis of user consent.
3. For Financial Information Users (FIUs)
- Lenders, insurers, and wealth managers can integrate with INK to receive consented financial data directly from FIPs. This enables them to access verified information for credit processing, underwriting, or financial planning without building their own AA infrastructure.
By offering these services across consumers, FIPs, and FIUs, INK fulfills its role as a regulated Account Aggregator under the RBI framework.
How INK Account Aggregator Works ?
INK AA follows a consent-based process that is simple for users and secure for financial institutions. The main steps are:
- A user applies for a loan, credit card or financial product on an app or website
- The app requests financial data like bank statements through INK AA
- A consent screen appears, showing:
- What data will be shared
- For what purpose
- For how long
- The user selects the accounts to link, enters the OTP and approves the request
- Setu AA fetches the data from FIP and delivers it securely to the requesting app (FIU)
- The user can revoke access anytime, stopping further data sharing instantly
Use Cases of INK Account Aggregator for Fintechs
INK is widely used by lenders, insurers, and fintechs to streamline underwriting, enhance finance apps, and simplify everyday digital journeys. Built on the AA framework, it enables secure, consent-based data sharing directly from user-linked accounts. Some of the key use cases of INK include:
- Faster Loan and Credit Approvals
- Personal Finance Apps
- Simpler Daily Transactions
By providing verified financial information instantly, INK helps lenders assess eligibility more accurately, reduces paperwork for consumers, and allows apps to give users a consolidated view of their finances all while ensuring complete control over data consent.
Benefits of Using INK Account Aggregator
1. Self-Consent Option
One of INK’s distinctive features is its self-consent option, which allows users to fetch and view their own consolidated account data directly through the INK app. This makes the AA utility a personal tool for checking balances and transactions across banks without needing an external financial institution to request the data.
2. Flexible Pricing Structure
Another unique aspect is INK’s transparent pricing model. Unlike most Account Aggregators that only operate through institutional integrations, INK openly publishes plans for use cases such as personal finance, wealth aggregation, and lending support. This flexibility helps fintechs and enterprises adopt AA services in ways that match their scale and requirements.
3. Purpose-Built for RBI Framework
INK belongs to the newer wave of AAs designed specifically for the RBI framework rather than evolving from older businesses. Its platform, from APIs to mobile apps, has been built from the ground up with compliance, security, and ease of use in mind.
INK vs Other Account Aggregators (OneMoney, Finvu, Anumati, NADL)
| Factor | INK AA | OneMoney | CAMSFinServ | NADL (NeSL) | Anumati |
|---|---|---|---|---|---|
| Network Coverage | Headquartered in Chennai they have 30 FIPs live with them | Headquartered in Hyderabad they the highest FIPs live 88 | Part of MF registrar CAMS, they are Headquartered in Chennai and 61 FIPs live with them | Government-backed via NeSL, they are Headquartered in Mumbai and 60 FIPs are live with them | Part of Perfios, headquartered in Bengaluru they have 68 FIPs live with them |
| Data Handling | Simplified consent management is the main USP of them | Provides encrypted real-time data with APIs and SDKs for decision insights. | Primarily compliance-focused, handling financial data with high security and oversight. | Acts as statutory repository of verified financial data with government oversight. | Built for lenders, combines financial data with underwriting and credit insights. |
| Role & Flexibility | Works as an verified data tunnel for NBFCs, to sanction loans to SMEs and people | Helps NBFCs for credit risk assessment, with multiple data points | Natural fit for traditional institutions like banks, insurers, and asset managers. | Utility role, high trust but less flexibility for custom solutions. | Institution-focused, aligned with credit platforms needing insights. |
| Differentiators | They provide custom solutions to companies which have any special requirements | First AA in India and with the highest number FIPs onboarded 88 | Trusted financial record-keeper, compliance-first with decades of credibility. | Government credibility, high adoption among many institutions players. | Perfios is already a big player in BFSI sector and they have one of the highest number of FIPs 68 |
Future Roadmap of INK Account Aggregator
1. Short Term
- Enhancing the mobile app and web portal with simpler account linking, multilingual support, and better consent tracking to drive wider user adoption.
- Promoting self-consent so individuals can directly fetch and view their consolidated account data in real time.
2. Mid Term
- Expanding coverage by integrating more FIPs, giving users and FIUs access to a broader range of financial data.
- Building more simpler partnerships with fintechs in lending, personal finance management, and wealth services to make adoption of AA data flows easier through INK’s APIs and SDKs.
3. Long Term
- Scaling infrastructure to handle higher transaction volumes as the AA network grows.
- Ensuring continuous compliance with evolving RBI regulations while maintaining security and reliability.
FAQs on INK Account Aggregator
1. What is INK Account Aggregator?
Ans: INK Account Aggregator (INK AA) is an RBI-licensed Account Aggregator operated by Unacores AA Solutions Pvt. Ltd., headquartered in Chennai. It enables users to share their financial data digitally and securely with consent.
2. When did INK receive its licence?
Ans: INK AA received its NBFC-AA licence on September 2022 from RBI.
3. What services does INK provide?
Ans: INK provides core Account Aggregator services for consumers, FIPs, and FIUs. It helps users manage consents, financial institutions share data securely, and fintechs or other FIUs receive verified information for their financial services.
4. Does INK allow users to see their own data?
Ans: Yes. INK offers a unique self-consent option that lets users fetch and view their own consolidated account data directly in the INK app.
5. Can small businesses use INK?
Ans: Yes. SMEs can share their bank and transaction data through INK with lenders to simplify loan underwriting and credit access.
6. How do I use the INK app?
Ans: Users can register on the INK mobile app or web portal, link accounts, and manage consents. The app provides full visibility into active and past data-sharing requests.
7. What makes INK different from other Account Aggregators?
Ans: INK is one of the newer AAs built specifically for the RBI framework. It offers a self-consent feature, transparent pricing plans for enterprises, and a modern interface designed for compliance and ease of use.
8. What is INK focusing on in the future?
Ans: INK’s roadmap includes expanding financial institution coverage, building fintech partnerships, improving the user experience, and scaling infrastructure as the AA network grows.
9. Can NRIs use INK to link their accounts?
Ans: Yes. NRIs with Indian bank accounts can use INK to link and share their financial data, subject to support from the participating institutions.
Conclusion
INK AA, operated by Unacores AA Solutions Pvt. Ltd, is a new entrant in India’s AA ecosystem built directly on the RBI framework. It blends compliance, security, and a user-friendly interface to deliver core AA services. Distinct features like self-consent and transparent pricing make data sharing more accessible for individuals, lenders, and fintechs.
Looking ahead, INK aims to expand its financial coverage, build stronger partnerships, and enhance user experience. With a modern, purpose-built platform, it is well placed to help consumers access services faster and support institutions in adopting consent-driven data flows with ease.
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