What is the primary role of aggregators in financial services?

The primary role of aggregators in financial services is to serve as a service bureau that provides bill presentment and payment consolidation services. Aggregators aim to streamline the financial experience for consumers and businesses by consolidating various financial transactions into a single platform. This allows consumers to view and manage their bills and payments efficiently, providing a comprehensive overview of their financial obligations in one place.

By offering these services, aggregators help users to track payments across different vendors and simplify the payment process, often leading to enhanced user convenience and better financial management. This role is especially critical in the context of electronic transactions, where the need for integrating multiple payment sources is vital for a seamless experience.

The other roles mentioned in the other options, such as issuing credit cards or providing personal financial planning services, do not capture the core functionality of aggregators, which revolves specifically around the consolidation and management of payment and billing information. Similarly, operating traditional banking branches is outside the scope of what aggregators do, as they typically operate in a digital environment, focusing on electronic transaction facilitation rather than physical banking services.