FinTech

The Aggregator business model is gaining popularity especially in the Fintech ecosystem. Fintech players are leveraging digitization by bringing multiple stakeholders on one platform to ease the services for both industry players and consumers. Here are the top 5 fintech firms that have adopted aggregator technology to bring change in the market.

Fintso - Fintso is a deep-tech based platform that aggregates independent financial advisors, end consumers and mutual fund manufacturers on one platform, providing infrastructural and back end support to IFAs, helping them scale their entrepreneurial ventures. Started by two wealth management industry veterans, Rajan Pathak (ex-Bajaj Capital, IFAN Finserv) and George Mitra (ex-Avendus), Fintso recently raised angel funding $ 2.6 million.

Policybazaar – Policybazaar is an Indian insurance aggregator founded by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar. It provides a digital platform in the form of a website and app where users can compare financial services from major insurance companies and help them make an informed decision. Founded in 2008, the company is now known as India's largest insurance aggregator and has also expanded its operations in the United Arab Emirates.

Cams Finserv – Cams Finserv is a secured account aggregator platform licensed by RBI to provide individuals or small businesses an aggregated view of their financial holdings. Account aggregator has undertaken a mechanism which enables collating customer's financial information from multiple financial information providers (FIP) and further sent to the authorised Financial Information User (FIU) after getting the consent of the customer. The customer holds the control on whom the data has to be shared and from where he will seek the data.

Onemoney – Onemoney is another account aggregator owned by FinSec AA Solutions India Pvt Ltd (FinSec) and licensed by RBI. Onemoney provides a consent management platform to consumers and a secured data-sharing platform to financial institutions and other players in an open banking economy.

InsureMile – Insuremile is India's first marketplace for financial protection, founded with the intent to let customers compare multiple insurance policies at a time before making a decision. As an insurance web aggregator, Insuremile enables financial protection to 96% of Indians who are under risk, providing simple, fast, and reliable services. This Bangalore based start-up forays into various insurance products such as life insurance, health insurance, car and bike insurance as well as travel insurance.