Fintech & Digital Lending

Build Fintech Products on Consented, Verified Financial Data

Role

Role in AA Ecosystem

As FIU (Financial Information User)

Fintech platforms use OMS AA to:

  • Offer instant account linking (no password sharing)
  • Display consolidated financial data
  • Provide income verification for credit products
  • Streamline customer onboarding

As Platform Intermediary

Fintech aggregators connect end consumers with FIUs (lenders, investment platforms), using OMS AA for data transfer.

Value

Key Benefits

1

Superior User Experience

  • Consolidated view of all financial accounts in one dashboard
  • Fast approval for credit products
  • Transparent, consent-first data sharing
2

Reduced Compliance Risk

  • OMS AA handles DPDP Act, 2023 compliance; fintech doesn't store customer financial data
  • Audit-ready consent records
  • Regulatory defense via OMS AA's audit trails
3

Scalability

  • No need to integrate with every bank individually
  • Single integration with OMS AA
  • Instant scaling as you onboard new financial institution partners

In Practice

Fintech Use Cases

1

Personal Finance Aggregation App

  • User links bank, investment, and insurance accounts via OMS AA consent
  • App displays consolidated net worth, asset allocation, cash flow
  • User gets personalized financial insights (without app storing data)
  • Real-time updates as account data changes
2

Loan Marketplace

  • User browses loan offers from multiple lenders
  • Clicks "Apply" and consents to share bank statements
  • Marketplace instantly retrieves verified income data
  • Lender makes quick offer; user accepts
  • Loan funded within 24 hours
3

Investment Platform

  • User links bank accounts for investment funding
  • Shares investment portfolio data with wealth advisor
  • Platform links to OMS AA for real-time account balances
  • Advisor provides investment recommendations based on verified data
4

Buy Now Pay Later (BNPL): As an FIU

  • User requests BNPL at checkout
  • Consents to share income/banking data for instant credit decision
  • FIU accesses consented income and liability data via OMS AA
  • BNPL lender makes instant decision
  • User completes purchase instantly

Regulatory

DPDP Act & RBI Compliance

Fintech Liability

  • Fintech is classified as "Data Fiduciary" for data it receives
  • Must comply with DPDP act, 2023 Sec 8 (security, retention, erasure)
  • OMS AA's audit trails help fintech demonstrate compliance

Consent & Revocation

  • OMS AA handles consent collection and verification
  • Fintech respects customer revocation notifications
  • Fintech must delete customer data upon request or consent expiry

Regulatory Advantage

  • No data storage = lower compliance burden
  • OMS AA's RBI regulation provides regulatory certainty
  • Transparent, audit-ready processes reduce enforcement risk