OMS Fintech Account Aggregator Pvt. Ltd. is an RBI-licensed Account Aggregator headquartered in Chennai, Tamil Nadu. Incorporated in November 2020, the company was established specifically to build an AA platform and later received its NBFC-AA licence from the Reserve Bank of India after securing in-principle approval in 2021. Though a relatively new entrant, OMS represents the growing diversity of licensed AAs across India. This article explores how OMS AA works, the range of services it offers, and the benefits it brings to both users and financial institutions.
| Aspect | OMS Fintech Account Aggregator Overview |
|---|---|
| Parent Organization | Operated by OMS Fintech Account Aggregator Pvt. Ltd., headquartered in Chennai, Tamil Nadu. |
| Incorporation & License | Incorporated in November 2020. Secured in-principle approval in 2021 and later received its NBFC-AA license from RBI |
| Core Services | Consent-based financial data sharing across banks, NBFCs, insurers, and fintech platforms under the RBI’s AA framework. |
| Target Users | Banks, NBFCs, fintechs, insurers, and individual consumers. |
| Differentiator | A relatively new entrant established with the sole purpose of building an AA platform, adding to the growing diversity of licensed players in the ecosystem. |
| Use Cases | Loan processing, income verification, digital onboarding, and enabling secure data exchange between financial institutions. |
| Market Position | A new AA player positioned as part of the expanding ecosystem, contributing to greater choice and competition among licensed AAs in India. |
An Account Aggregator is a framework introduced by the Reserve Bank of India (RBI). It allows users to share their financial data digitally and securely, with consent. Instead of uploading documents or statements, users can grant access through a simple and secure process. If you want to learn more Account Aggregator we have made a comprehensive guide.
OMS offers a mobile app where users can register, link accounts, approve or revoke consents, and track their data-sharing history. This ensures individuals remain in control of their financial data at every step.
OMS acts as a bridge between FIPs such as banks, insurers, pension funds, and others. All data transfers are encrypted, fully compliant with RBI norms, and never stored, ensuring trust and security in the process.
Lenders, fintechs, and other FIUs can access user-consented financial data seamlessly through OMS. Its independent operations, position it as a lean and focused provider committed solely to delivering secure and compliant AA services
OMS AA follows a consent-based process that is simple for users and secure for financial institutions. The main steps are:
OMS is used by banks, NBFCs, fintech lenders, and wealth platforms to enable faster, paperless financial services. Built as an independent Account Aggregator, it provides secure, consent-based data sharing that helps institutions simplify credit, lending, and wealth management processes. Some of the key use cases of OMS include:
By delivering verified customer data such as bank transaction history and income proof, OMS reduces paperwork, speeds up credit assessments, and makes loan or credit card applications much faster. Fintech lenders benefit from smoother onboarding journeys without manual uploads, while wealth platforms can offer consolidated financial views and tailored advice.
For users, the OMS mobile app ensures complete transparency and control by letting them approve or revoke consent requests at any time. In daily life, this means secure sharing of financial information with banks, lenders, or fintechs becomes simple, safe, and efficient.
| Factor | OMS Fintech | VC backed or Legacy AAs (Anumati, Finvu, CRIF, CAMSFinServ) | NADL (NeSL) |
|---|---|---|---|
| Network Coverage | Headquartered in Chennai, they only have 4 FIPs live on their network which is very low | Backed by established financial technology firms or VC funding, giving them wider coverage and resources to scale faster. | Government-backed via NeSL, they are headquartered in Mumbai and 60 FIPs are live with them |
| Data Handling | Did not find any special data handing uses | Often add analytics (TSP), SDKs, or domain expertise (e.g., CAMS in mutual funds, CRIF in credit data) on top of core AA functions. | Acts as statutory repository of verified financial data with government oversight. |
| Role & Flexibility | Private, standalone player which is flexible in approach but limited by lack of financial backing and existing infrastructure. | Benefit from strong parentage or funding, enabling faster integrations, deeper partnerships, and scalable operations. | Utility role, high trust but less flexibility for custom solutions. |
| Differentiators | Independence from any large firms as its a standalone entrant which makes it agile but challenged by lack of capital and parent networks for expansion | Either leverage existing infrastructure (CAMS, CRIF) or investor funding (Anumati, Finvu) for growth and competitive advantage. | Government credibility, high adoption among many institutions players. |
OMS Fintech is an RBI-licensed Account Aggregator based in Chennai. It helps people share their financial data digitally and securely with consent, instead of relying on physical paperwork.
OMS Fintech was founded by Nitin Sawant, a SEBI-registered investment advisor, who has been actively involved in building the AA platform and outlining its long-term vision.
Yes. OMS provides a mobile app where users can register, link their bank or financial accounts, approve or revoke consents, and monitor their data-sharing history at any time.
Unlike many AAs that are backed by large financial companies or venture capital investors, OMS is an independent player. This gives it neutrality but also means it has to grow without the same financial runway that bigger players enjoy.
The company wants to maximize consent flows, build a strong bridge between banks and fintechs, empower millions of users to control their data, and collaborate across the financial ecosystem to expand AA adoption in India.
Yes. Small businesses can use OMS to share financial records and transaction data with lenders, which can help them qualify for loans and other credit products more easily.
OMS has not disclosed its client list publicly yet. However, as part of the AA ecosystem, it is expected to expand integrations with more banks, NBFCs, and fintechs over time.
Individuals applying for loans or credit cards, small businesses seeking working capital, and users who want a simple way to track and manage data consents can all benefit from OMS Fintech.
OMS Fintech is one of the newer AAs in India, built to deliver secure and compliant consent-based data sharing. Unlike many peers backed by corporates or VCs, OMS is fully independent, giving it neutrality and focus. Its consumer-facing app strengthens this position by giving individuals direct control over how their data is shared and managed.
Looking ahead, OMS plans to scale by driving consent flows, building stronger bridges between banks and fintechs, and empowering millions of users to manage their financial data. While it lacks the institutional backing of other AAs, its independence and clarity of purpose position it to play a meaningful role in India’s shift toward a fully consent-driven financial ecosystem.
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