What is Financial Data Aggregation? 

Financial data aggregation is a process of collecting information from a wide array of accounts like investment accounts, bank accounts, credit card accounts, loans, and much more into a single place. After the complete collection of the information, the customer can always check all the financial details in a single place. 

 

Some important points related to financial data aggregation

• Financial data aggregation makes it easy for every customer to make any financial decision as they can check all the financial aspects in a single place, which gives a clear picture of their financial health.
• All the third parties out there are equipped with APIs by financial data aggregation, which helps the companies get permission from the customer to get access to their account details.
• The rise of online banking is acting as a springboard for financial data aggregation, and this is why the demand for financial data aggregation companies is only increasing with time.
• With more people moving towards the digital banking platform, the confidence in technology is growing. This is why, in the future, we can see more solutions like financial data aggregation getting accepted by customers with alacrity.

How Does a Financial Data Aggregator Benefit Businesses? 

• Financial data aggregator helps financial companies increase customer satisfaction rate as with the help of financial data aggregator. They can provide easy access to all the accounts of the customer in a single place.
• Financial companies can also focus on amplifying customers’ loyalty towards the firm. When the customers start getting a seamless and unique add-on with their opted service, they will become bound always to choose your company over others.
• Financial data aggregator not only helps financial companies focus on existing customers but also helps attract new customers. Either through advertisement or word of mouth, more and more people will know about your unique offering in the form of financial data aggregation.
• Staying ahead of the competition can become easy with the help of financial data aggregator companies. While other companies will still use different platforms for different accounts, you can have a centralized system for all the accounts and set yourself apart.
• Financial companies will always provide the best service as customers will always have access to more comprehensive wealth management, which also increases the chances of customers choosing your service over others.

Benefits of Associating With a Financial Data Aggregation company?

• Better relationship with clients

If you provide the clients with a seamless way to manage all the accounts and keep tabs on their financial health without any hassle, it will help build a better relationship with them. 

• Widen service offerings 

With financial data management through financial data aggregation, you always have the option of widening your service offerings and allowing the clients to manage those specific assets that were earlier out of their reach. 

• Increased automation 

When you use a financial data aggregator, you will not have to worry about wasting time in manual operations as everything becomes automated when you have all the accounts on a single platform. This increases the efficiency of the company and clients both. This also eases the process of financial data management.

• Smooth asset and data gathering process

You don’t have to deal with a lengthy step-by-step process for gathering clients’ data and assets, as with the help of a financial data aggregator, you can completely automate the process and thus reduce the time spent on this process. 
 

What is The Scope of Financial Data Aggregators in The Future? 

• With the increasing demand for the online banking system and more people trusting the technological solutions in the financial sector, solutions like financial data aggregators are only expected to grow in the future, too, at a breakneck pace. 
• The financial data management through a centralized system will power all the services and banking apps out there, which will result in all the customers out there making more informed decisions instead of taking a random guess. 
• The advent of the pandemic has also pushed people to the online world, and this change in consumer behavior is here to stay for an extended period. This shift to the digital world has made the future of financial data aggregators safe and secure. 
• All the competitors out there are always looking forward to gaining a competitive advantage in the industry, which can be done with the help of a financial data aggregator. The increasing need to gain a competitive advantage in the industry will also influence the future of this process. 

Why Choose Emissary? 

Artificial intelligence and machine learning powers Emissary. This is how our powerful platform shortens the time spent on data-related projects and reduces risks related to this process. 
 
Emissary acts as the integration platform component of your entire global data management platform. But for all the financial institutions out there, Emissary will serve as the primary data management tool. 
 
Whether you are looking forward to long-term data management outsourcing or one-time rapid data conversion, it doesn’t matter. Emissary will fit like a glove for your needs. Even if you are looking for simply implementing a simple data integration technology, you can still trust Emissary and get expected results. 
 
Emissary also comes with the power of the cloud and allows you to unlock the power of the cloud while using the best financial data management platform. You can streamline your data enrichment and processing by using Emissary’s cloud platform integration feature and stay ahead of the competition without making data management a money-guzzler for your business.