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account aggregation

Account aggregation is the clear compilation of various financial accounts. These can be business accounts, bank accounts, investment accounts, credit card accounts and other accounts, which are automatically collected by a system and compiled in a database or in a clear form.

Account aggregations can be web-based applications and reside as a cloud on the Internet. They are primarily used to aggregate financial data. Depending on the tool, Account Aggregation shows the number of transactions, the transaction date, the gross, net and commission amounts, the sales history of the different accounts over time and much more. Account Aggregation is supported by online banking, by account tools or financial apps.

Example of aggregation of different accounts, Account Aggregation.

Example of aggregation of different accounts, Account Aggregation.

The advantage of Account Aggregation is that it provides the user with a quick and comprehensive overview of financial accounts, transactions and sales.

Informations:
Englisch: account aggregation
Updated at: 23.04.2012
#Words: 140
Links: aggregation, system, database (DB), cloud, Internet
Translations: DE
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