Borrowers who share bank data via Account Aggregator are 3x likelier to get business loans

A study finds that loan seekers who share their bank data through the Account Aggregator framework are three times more likely to receive business loans. The framework has significantly changed lending, especially for borrowers with no prior credit history. Loans worth over Rs 3.82 lakh crore have been accessed through millions of accounts, with new-to-credit individuals seeing substantial growth in disbursements. Lenders using the framework have reported faster portfolio expansion and lower delinquency rates. The researchers suggest that improved credit access is also boosting economic activity in the regions where it has taken hold.