Fintech & Open Banking

CONNECTING A BANK, IN ONE CLEAR DECISION

A redesign of Finbox's Account Aggregator (AA) flow, the way most users share their bank data for a loan. Fewer steps, consent people can read, and a flow aligned with Sahamati's reference journey.

At a glance
92%

of successful bank connections already came through Account Aggregator.

2 screens

removed for a user with one account, and the OTP sheet merged into the phone screen.

4 moves

each mapped to a principle in Sahamati's design report.

The problem

A simple flow that stopped feeling simple

Users connect their salary account mostly through Account Aggregator, with a phone number and an OTP. Net Banking and statement upload existed, but over 90% chose AA.

On paper the flow was straightforward. In practice, every user walked the same seven steps, including three that added nothing for most of them.

The original path
  1. Bank selection
  2. Mode selection
  3. Phone input
  4. OTP in a bottom sheet
  5. Account selection
  6. Dense consent
  7. Basic success

Red marks the steps that most users didn't need. The screens also leaned on odd fonts, hard shadows and heavy layouts that didn't match the trust at stake with financial data.

So the question became: how can connecting a bank feel fast and trustworthy, without weakening consent?

The context

Three parties and one consent

Account Aggregators are India's rails for open banking. They are RBI-licensed NBFCs, launched in 2021, that move financial data between institutions only with the user's explicit consent.

FIP

Financial Information Provider

Holds the data. For this flow, the user's bank.

AA

Account Aggregator

Carries the data, and asks for and records the user's consent.

FIU

Financial Information User

Uses the data. Here, the lender assessing a loan.

Sahamati, the industry alliance of AAs, FIUs and FIPs, published reference journeys and design principles with IDEO's Last Mile Money team. Many teams treat that report as the gold standard for AA consent in India.

The standard

What an ideal AA flow should be

Educational

Builds awareness of consent progressively, instead of all at once.

Trustworthy

Signals safety and RBI authorisation.

Empowering

Gives meaningful control, including revoking consent.

Transparent

Shows what is shared, without cognitive overload.

I framed the work around three outcomes

  1. 01

    Fewer steps that actually matter

  2. 02

    Consent users can understand, not just accept

  3. 03

    A visual language that feels modern and trustworthy

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