However, consumers are generally not aware of data aggregators like Plaid and Finicity, which collect consumer data from banks, crunch it and feed it to fintech applications.

Blockchain technology can play a key role in helping data aggregators manage consumer financial data while complying with regulations and empowering consumers.

Blockchain technology can help data aggregators manage data in four key areas: security, privacy, analysis and auditability.

These blockchain protocols can help data aggregators achieve their objectives of analysing sensitive data from multiple sources while preserving its security and privacy.

However, even when regulations don’t directly apply to data aggregators, banks often bolster their own compliance with regulations by requiring data aggregators to enter into data-sharing agreements as a condition of accessing consumer data. | To read full story, visit https://startuparound.com/read/1583044312.5402045/How-Data-Aggregators-Are-Using-Blockchain-To-Empower-Fintech-Players?ref=audio_experience