Account Aggregator API - setu API

Overview

• The Account Aggregator API by setu is India's first gateway for Account Aggregator.
• It provides consented sharing of financial data by utilising the DEPA framework.
• This API allows users to verify income, monitor credit, and manage personal finances all in one place.

Major Customers Using It

• Major customers using this API are IND money, ET Money, Snapmint, One card, Flexo loans etc...

• Source : (https://setu.co/data/financial-data-apis/account-aggregator/)

Features & Integrations

• The API facilitates consented sharing of financial data.
• It allows users to verify income, monitor credit, and manage personal finances.
• The API utilizes the DEPA framework for data sharing.

Use Cases

• The API is used to aggregate financial account information.
• It can be used by financial institutions to verify a user's income and credit status.
• Personal finance management platforms can use this API to provide a comprehensive view of a user's financial status.

Documentation Link

• The API documentation can be found (here).

Developer Support

• Developer support is provided through community forums and dedicated support channels.
• Extensive resources and documentation are available for developers to get started with the API.

Advantages

• The API provides a comprehensive financial data aggregation solution.
• It uses the DEPA framework, ensuring secure and consented data sharing.
• The API is versatile and can be integrated into various financial platforms.

FAQs

• (FAQs) for the API can be found on the setu website.

Company Information

• The API is provided by setu, a leading provider of API solutions in the FinTech industry.
• setu is known for its innovative API solutions and has received significant industry recognition.

Year Company Founded

• setu was founded in 2019.

Social Profile Links

Linkedin: (https://www.linkedin.com/company/setu/)

FAQs - Account Aggregator API - setu

1. What is the setu Account Aggregator API?

• The setu Account Aggregator (AA) API is India's first gateway for Account Aggregator services. It enables consented sharing of financial data leveraging the DEPA (Data Empowerment and Protection Architecture) framework, allowing users to verify income, monitor credit, and manage personal finances securely.

2. Who are the major customers using setu’s Account Aggregator API?

• Major customers include digital financial platforms such as INDmoney, ET Money, Snapmint, OneCard, and Flexiloans, who use the API to access financial data securely and with user consent.

3. What are the key features of setu’s Account Aggregator API?

• Consent-driven sharing of financial data based on RBI regulations
• Utilizes the DEPA framework for secure data transactions
• Multi-AA gateway capability for connecting with multiple licensed Account Aggregators with smart routing for better performance
• Enables income verification, credit monitoring, and personal finance management
• Provides embeddable UI components for user consent management
• Standardized, error-free data payloads for seamless integration

4. What are common use cases for this API?

• Aggregation of financial account data for a comprehensive customer financial profile
• Income verification for lenders and financial institutions
• Credit status monitoring for risk assessment
• Personal finance management by fintech and digital platforms

5. How does the consent process work with setu AA API?

• Users receive notifications when a data consumer (e.g., lender) requests access to specific financial data. The user can explicitly approve or reject the consent request, controlling what data is shared, for how long, and for what purpose. Consent can also be withdrawn at any time to ensure user data privacy.

6. What developer resources and support does setu provide?

• Setu offers extensive API documentation, integration guides, community forums, and dedicated support channels. Developers can access a sandbox environment for testing and build applications with embeddable consent UI components.

7. Is setu AA API secure and compliant?

• Yes, setu is RBI-licensed and ensures compliance with all regulatory standards around data privacy and security. The use of the DEPA framework guarantees secure, consent-based data sharing.

8. Where can I find the official documentation for integration?

• Official API documentation is available at:
  https://docs.setu.co/data/account-aggregator/api-integration

9. How does setu handle multiple Account Aggregator integrations?

• Setu provides a multi-AA gateway with smart routing that dynamically selects the most performant Account Aggregator from multiple licensed partners. This architecture improves conversion rates and reliability for data access.

11. When was setu founded and where can I connect with them?

• Setu was founded in 2019. Their LinkedIn profile is:
  https://www.linkedin.com/company/setu/

12. Where can I find setu’s FAQs for more information?

• Additional FAQs can be found on the setu website at:
  https://setu.co/data/financial-data-apis/account-aggregator/