mumbai fairfaxbacked iifl finance has said that it is among the first movers to launch account aggregatorbased digital lending that will enable it reach millions of newtocredit customers iifl finance has rs 43160 crore of loan assets under management as on june 30 2021 with around 93 of the book in retail including smallticket loans the account aggregator platform conceived by the rbi facilitates customers to give consent to lenders software accessing their bank details this enables loans to be extended to those without credit scoresiifl finance aims to use the account aggregator to better underwrite small enterprises the private lender is focusing on digital underwriting of unsecured loans up to 10 lakh for msme customers can avail instant loans within a few minutes through the mymoney app managed by iifl finance iifl finance chairman nirmal jain said we believe account aggregator would be a game changer in the coming days a lot of borrowers are denied access to credit due to unavailability of financial data creation of account aggregator will solve thathe added that currently around 8 of the users on iifls platform are able to provide digital financial data to process the application we believe the account aggregator will help us bridge the data gap and make 7080 of the businesses eligible to seek digital credit he added