Title: A developmental study to create use cases to address the financial and other relevant issues faced by millennials through account aggregation

Authors: Prashant Goyal; Anjali Krishna; Eshwar Inuganti; Nitin Sankaran; Shivam Nathani; Sonali Jajodia

Addresses: IFIM Business School, Bangalore, India ' IFIM Business School, Bangalore, India ' IFIM Business School, Bangalore, India ' IFIM Business School, Bangalore, India ' IFIM Business School, Bangalore, India ' IFIM Business School, Bangalore, India

Abstract: The role of the study was to determine the gaps felt by millennials in the established commercial system and, consequently create use cases for bridging the existing gaps wherever possible through account aggregation. Account aggregation is a process that promotes structured financial data sharing from financial information providers (FIPs) to financial information users (FIUs), which retain a log of the consent provided and offering the ability to withdraw or manage the consent originally provided by the client. The research paper revolves around identifying the possibilities of solving existing financial issues through account aggregation. Hence, the research was based on a survey conducted on the millennial population, which was further classified into three categories for the study. The study led to the development of use cases in various sectors that can be utilised in developing the account aggregator ecosystem.

Keywords: account aggregation; data encryption; data privacy; financial information providers; FIPs; financial information users; FIUs; millennials.

DOI: 10.1504/IJBIR.2024.137608

International Journal of Business Innovation and Research, 2024 Vol.33 No.4, pp.506 - 529

Received: 20 Jan 2021
Accepted: 15 Jun 2021
Published online: 02 Apr 2024 *

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