BITS publishes aggregation guidelines

Washington, DC -- BITS, a non-profit consortium of the largest financial institutions in the US, has published new voluntary guidelines for financial services aggregation data-handling promoting sound, private and secure services.

The guidelines, released in mid-January, update BITS’s 2001 aggregation guidelines, focusing specifically on issues such as security, privacy, consumer education and the regulatory environment. Financial account aggregation appeals to customers because it enables them to manage different financial relationships from a single web page through PCs, mobile phones and wireless devices – usually supplied by a third-party service supplier. Access to the service allows customers to