Solutions

Overview

OMS AA's solutions are built around the core Account Aggregator function: secure, consent-based financial data transfer. Our platform enables various use cases across different financial institutions, all grounded in regulatory compliance and data security.

What We Offer

Solution Categories

A

Consent Management Infrastructure

What It Is: End-to-end consent lifecycle management built into OMS AA's platform, enabling FIPs and FIUs to request, collect, manage, and revoke customer consent in full compliance with the DPDP Act, 2023.

DPDP Act Compliance (Sec 6):
  • Itemized, granular consent (data category by data category)
  • Clear affirmative action (no pre-ticks, no bundled consent)
  • Instant revocation ("as easy as giving consent")
  • Consent records and audit trails
How It Works:
  1. FIU customizes consent template (data categories, purposes, validity)
  2. OMS AA displays to customer via secure web/mobile UI
  3. Customer approves specific data categories and account sources
  4. OMS AA records immutable consent artifact
  5. Consent notifications sent to relevant FIPs
  6. Customer can revoke anytime via dashboard or support
Use Cases:
  • Banks: loan application, credit line expansion
  • NBFCs: Income verification for personal loans
  • Fintech: Account linking for aggregator apps
  • Insurance: Income and asset verification for underwriting
B

Secure Financial Data Sharing

What It Is: Real-time, encrypted, consent-based financial data sharing from multiple Financial Information Providers (FIPs) to Financial Information Users (FIUs), facilitated via OMS AA.

RBI Compliance (Para 8(4), Para 14(6), Para 36):
  • Presentation only: no processing or storage
  • No secondary use of data
  • Zero knowledge of customer's financial information except during active transfer
How It Works:
  1. FIU requests data via OMS AA API (with customer consent ID)
  2. OMS AA facilitates real-time data sharing from FIP(s)
  3. Data forwarded in standardized format
  4. Encrypted data sharing with FIU
  5. Automatic deletion of interim data (no storage)
Technical Features:
  • RESTful API with rate-limiting and throttling
  • Webhook notifications for asynchronous processing
  • Support for batch and real-time requests
  • Standardized data schema (ReBIT specs)
Use Cases:
  • Taxation: Facilitating financial data access for tax-related workflows
  • Loan Underwriting: Access verified bank statements, tax returns, investment details
  • Income Verification: Automated income assessment for salary-based loans
  • Credit Decisioning: Data-driven credit risk assessment
C

Account Aggregation for Customers

What It Is: A customer-facing view where individuals can see a consolidated snapshot of their financial accounts (bank accounts, loans, investments, insurance) across multiple institutions, for informational purposes and to facilitate sharing with authorized institutions.

DPDP Act & RBI Compliance:
  • Customer sees only their own data (Para 35, RBI Directions: customer rights)
  • No analysis or advice (Para 14(6): AA cannot provide advisory)
  • Granular consent controls for sharing with FIUs
How It Works:
  1. Customer links their bank/investment accounts via OMS AA
  2. Gives consent for OMS AA to fetch and display data
  3. Views consolidated dashboard: total bank balances, liabilities, investments
  4. Can share specific data with financial institutions via consent mechanism
  5. Real-time account updates
Use Cases:
  • Retail Banking: Wealth management
  • Loan Applications: Self-service consent for data sharing
  • Insurance: Review insurance policies across providers