Account and Open Banking aggregator

A bank aggregator is an account information service provider, licensed by the regulator, that connects to banks to retrieve a user's account data with their consent. It acts as the technical intermediary between bank interfaces, whose formats and availability vary widely, and the application that uses the data. Two parameters determine its quality: coverage, meaning the number of institutions actually reachable, and the connection success rate, which depends on the stability of the bank interfaces. Relying on a single aggregator therefore creates a dependency: if its access to a bank goes down, the customer journey stops.