abhishreshthaa
Abhijeet S
Account Aggregation
Account aggregation is a service that gathers information from many websites, presents that information to the customer in a consolidated format, and, in some cases, may allow the customer to initiate activity on the aggregated accounts.
The information gathered or aggregated can range from publicly available information to personal account information (e.g., credit card, brokerage, and banking data).
Aggregation services can improve customer convenience by avoiding multiple log-ins and providing access to tools that help customers analyze and manage their various account portfolios.
Some aggregators use the customer-provided user IDs and passwords to sign in as the customer. Once the customer's account is accessed, the aggregator copies the personal account information from the website for representation on the aggregator's site (i.e., "screen scraping").
Other aggregators use direct data-feed arrangements with website operators or other firms to obtain the customer's information. Generally, direct data feeds are thought to provide greater legal protection to the aggregator than does screen scraping.
Account aggregation has evolved with single sign-on at most major banks such as Bank of America. With SSO (usually implemented via SAML) major financial institutions are now expanding their aggregation services into new areas.
Rich Presentment (getting all the information about a bill that you owe) is a service that uses Aggregation extensively, and can be seen at AOL, using AOL Bill Pay. Aggregation also powers applications such as Funds Transfer, New Account Openings, Card Based Bill Pay and so on.
:SugarwareZ-057:
Account aggregation is a service that gathers information from many websites, presents that information to the customer in a consolidated format, and, in some cases, may allow the customer to initiate activity on the aggregated accounts.
The information gathered or aggregated can range from publicly available information to personal account information (e.g., credit card, brokerage, and banking data).
Aggregation services can improve customer convenience by avoiding multiple log-ins and providing access to tools that help customers analyze and manage their various account portfolios.
Some aggregators use the customer-provided user IDs and passwords to sign in as the customer. Once the customer's account is accessed, the aggregator copies the personal account information from the website for representation on the aggregator's site (i.e., "screen scraping").
Other aggregators use direct data-feed arrangements with website operators or other firms to obtain the customer's information. Generally, direct data feeds are thought to provide greater legal protection to the aggregator than does screen scraping.
Account aggregation has evolved with single sign-on at most major banks such as Bank of America. With SSO (usually implemented via SAML) major financial institutions are now expanding their aggregation services into new areas.
Rich Presentment (getting all the information about a bill that you owe) is a service that uses Aggregation extensively, and can be seen at AOL, using AOL Bill Pay. Aggregation also powers applications such as Funds Transfer, New Account Openings, Card Based Bill Pay and so on.
:SugarwareZ-057: