CRED launches personal finance manager for India’s affluent

throttleAddict · 25th July 2024, 16:58

What do T-Bhp'ians-think about this ? People using CRED, do you think this is another data hoarding app ?

Comrade · 25th July 2024, 17:42

Seems like a marketing ploy. Especially terms like finance manager & affluent.

RBI has introduced account aggregator (AA) framework in 2016, and today there are 15 approved AAs including well-known majors like CAMS, NeSL, Protean (NSDL), Perfios, PhonePe, Tally & Yodlee. Cred is just using Finvu, one of the 15 AAs.

You don't even need CRED to use this functionality. You can directly use Finvu if you have android device!

There are many challenges with AA framework currently like it only supports certain account types and APIs don't always work but thats a seperate discussion.

25th July 2024, 16:58	#1
throttleAddict BHPian Join Date: Apr 2024 Location: Coimbatore Posts: 79 Thanked: 116 Times	CRED launches personal finance manager for India’s affluent What do T-Bhp'ians-think about this ? People using CRED, do you think this is another data hoarding app ? Source : Tech Crunch Last edited by throttleAddict : 25th July 2024 at 17:24.
	(1) Thanks

25th July 2024, 17:42	#2
Comrade BHPian Join Date: Jul 2008 Location: HYD Posts: 690 Thanked: 2,012 Times	Re: CRED launches personal finance manager for India’s affluent Seems like a marketing ploy. Especially terms like finance manager & affluent. RBI has introduced account aggregator (AA) framework in 2016, and today there are 15 approved AAs including well-known majors like CAMS, NeSL, Protean (NSDL), Perfios, PhonePe, Tally & Yodlee. Cred is just using Finvu, one of the 15 AAs. You don't even need CRED to use this functionality. You can directly use Finvu if you have android device! There are many challenges with AA framework currently like it only supports certain account types and APIs don't always work but thats a seperate discussion.
	(5) Thanks