What does Account Aggregation involve?

Account aggregation primarily involves providing a summary of transactions from different accounts. This process allows individuals to view their financial information from multiple sources in one unified interface. By aggregating account data, users can easily monitor their spending, income, and overall financial health without needing to log into each financial institution or platform separately.

This practice is particularly beneficial in personal finance management, as it facilitates better budgeting decisions and helps users track their financial activities across various accounts. Through aggregation, individuals can access insights that they may not see when viewing their account information in isolation, such as spending patterns and financial trends over time.

While the other options mention aspects related to financial accounts, they do not accurately capture the essence of account aggregation. Instead, they might pertain to different financial services or mechanisms that do not combine account information into a singular view, which is the hallmark of account aggregation.