CRIF Connect is an end-to-end encrypted platform that securely fetches and transfers a consumer’s financial data based on their explicit consent between financial institutions. Thus, making data sharing extremely safe based on RBI-approved guidelines.
Speaking on the announcement, Mr. Wilfred Sigler, Senior Director - CRIF India and South Asia, said “We are pleased to receive the operating license to work as an NBFC Account Aggregator (AA). The Account Aggregator (AA) framework puts the customer in the centre of the ecosystem, giving them control of secured and hassle-free data sharing. It is a game-changer for increasing digital adoption, financial inclusion, and providing financial services with higher operational efficiencies. “
CRIF Connect will be available through a web application ana d mobile application. Through the CRIF Connect App, users can view all their financial information in one place. They can choose what information to share with the financial institution in real time and make changes to their consent which they can give, deny, or revoke at any time.
About CRIF S.p.A: CRIF is a global company specializing in credit bureau and business information, outsourcing and processing services, and credit solutions. CRIF is ranked amongst the prestigious top 100 IDC Fintech Rankings. In India, CRIF, alongside CRIF CONNECT Pvt. Ltd has three companies - CRIF High Mark Credit Information Services, CRIF Solutions Pvt. Ltd., CRIF DIGITAL SERVICES PRIVATE LIMITED, that offer Analytics and Scoring services, Credit Management solutions, Decision solutions, and Business Information Reports. CRIF's services are used by more than 82,000 companies and 1,000,000 consumers.
About CRIF Connect Private Limited: CRIF Connect Private Limited is a subsidiary of CRIF S.p.A. Regulated by the RBI, CRIF CONNECT enables users to share their financial data securely across financial institutions operating in India to avail financial services and products in a swift and efficient manner. For more information, please visit – www.crifconnect.com.
The company is having a valid Certificate of Registration dated 15.03.2023 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or the representations made or opinions expressed by the company and for the repayment of deposits/ discharge of liabilities by the company.
Neither there is any provision in law to keep, nor does the company keep any part of the deposits with the Reserve Bank of India and by issuing a Certificate of Registration to the company, the “Reserve Bank of India, neither accepts any responsibility nor guarantees the payment of deposits to any depositor or any person who has lent any sum to the company.
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