Last updated: 31 July 2020 06:20 PM
No PFM platforms support multi user/household level financial monitoring
Lack of a standardised consent framework for downstream data sharing leads to a fragmented user experience while engaging with multiple financial service providers.
Current frameworks do not support enabling joint/group consented sharing of aggregated data with regulated third parties.
Single /Multi user data consolidation capability
Easy monitoring and control of data shared outside the PFM platform
Secure data sharing framework with data category level consent definition for individuals and groups with regulated third parties.
Rule based data sharing templates to ensure user shares only pre-defined and relevant information with a regulated third party.
Extending the existing AA consent model to include granular data category level configurations
Designing the group consent framework keeping in mind data privacy and security issues for an individual while ensuring the individual has complete control of the consent at any point of time
Standardized data consent templates for specific downstream financial institutions require further investigation based on shared and the expected financial data to be shared.