Citizens should be able to link their accounts with multiple financial institutions to a single handle created with an Account Aggregator of his choice
To take a real life example, a citizen who has bank accounts with ICICI Bank and State Bank of India and an insurance policy with Max Life Insurance. If he now wishes to choose Account Aggregator 1 as his trusted consent manager and link all three accounts to a single handle, he should be allowed to do so. This would mean that the two banks and his insurance company should be integrated with Account Aggregator 1.
This explains the first guiding principle of interoperability “All FIPs need to be connected to all AAs”
Citizens should be able to use his existing handle created with an Account Aggregator of his choice to give a consent to share data with any FIU
In the above example, if now the citizen wants to apply for a loan with HDFC Bank and hence, has to share his account statements from ICICI Bank and SBI with HDFC Bank through Account Aggregator. He wishes to share the information through his chosen Account Aggregator 1 with which he has a handle created and has already linked his bank accounts. Hence as a superior customer experience best practice, HDFC Bank will be obliged to present an option to the citizen to share data through Account Aggregator 1 and not ask the customer to another Account Aggregator as his consent manager.
The above explains the second guiding principle of interoperability “All FIUs need to be connected to all AAs”