Why do I need an Account Aggregator account on PhonePe?

With an Account Aggregator account,

• You can view account statements of your linked bank accounts anytime
• You can share your bank statements and financial information securely with Financial Information Users (FIUs)
• You can manage and keep track of your consents to know which FIUs have fetched your financial data.

Note: An Account Aggregator ID (AA ID) will be linked to FIP accounts to help identify and fetch relevant financial information.

Related question(s):
How do I register and link my bank account on Account Aggregator?
Will I be charged for using Account Aggregator services on PhonePe?
​​​​​​​What is AA ID?