Account Aggregation


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Account Aggregation

A practice or service in which information on a large number of accounts (such as credits, debts, and so forth) are available on a user friendly sheet or interface. Account aggregation makes management of multiple accounts easier, especially for a financial adviser or investment manager with a large number of clients. Account aggregation began to become common in the middle of the first decade of the 2000s.
References in periodicals archive ?
Grendel's modules include client information management, compliance management, wealth management, account aggregation, email and file archive, client portal, practice management tools, advanced analytics capabilities, and more.
The firm offers APIs that can be used for Account Aggregation, Payment Initiation, Personal Finance Management and Data Enrichment.
"Through the application of the Token.io system, KHCB has laid the foundations for the development of open banking services that will enable it to reach out to a wide range of international financial technology companies and launch a new range of services, including account aggregation services, personal financial management tools and many others."
Fee-only advisors will experience seamless features with the portal, including self-registration and onboarding, mobile web access, account aggregation and organization, and unlimited, secure document storage.
Hundreds of independent RIAs come to T3 every year to shop for the latest in client portals, wealth reporting platforms, mobile apps, rebalancing tools, account aggregation systems, workflow automation and more.
"Our clients appreciate the ease of doing business that comes with the Ameriprise's technology, including its e-signature and account aggregation tools," Bailey said in a statement.
There are many examples on the impact of Fin Tech and Digitisation on Financial Services, but corporate banking has not seen the full impact yet." Talking about key developments in transaction banking, he said,"The transaction banking ecosystem is opening up at a fast pace: fintech and software vendors are offering corporate clients account aggregation and a user experience that global banks have been struggling to provide.
a global provider of financial services software and software-enabled services, today announced that its Black Diamond wealth platform was recognized as the top technology provider for Account Aggregation at 2016 WealthManagement.com Industry Awards.
* Mass affluents are relatively skeptical about the benefits of money management and account aggregation services.
The study calculated scores based on whether credit unions digitally offered services including online banking, audio response/phone-based services, ATMs, kiosks, mobile banking, member applications, new loans, account balance inquiry, share draft orders, new share accounts, loan payments, views of account history, share account transfers, bill payment, downloads of account history, electronic cash, account aggregation, electronic signature authentication/certification, e-statements, external account transfers, merchant processing services, remote deposit capture and mobile payments, as well as whether they had a website.
The Reserve Bank will regulate and supervise the activity of account aggregation with a view to ensuring that the services provided and the terms at which these are provided conform to prescribed standards.
Pearson recommends that advisors considering RIP software weigh the benefits of using applications that offer one-time data entry and account aggregation. She's found that having to enter information in three or four places kills productivity and using aggregation software brings "a lot of very valuable financial planning information into the software."