Sahamati Annual Report – October 2024
We are pleased to announce the release of our latest annual report.
The report “Data Capital: Unlocking Formal Finance for a Billion Indians” marks three years since the public launch of the Account Aggregator ecosystem, a pioneering cross-sectoral data-sharing initiative in India. This report celebrates the grit and determination of the ecosystem to realize data empowerment for customers in India.
Open Finance: From inclusion to empowerment of MSMEs
The Open Finance: From inclusion to empowerment of MSMEs report is out!
This joint effort from Sahamati and McKinsey & Company highlights the transformative potential of the AA ecosystem in addressing the persistent credit challenges MSMEs face. The report identifies over 15 potential use cases to enhance the efficiency and innovation of the financial services industry catering to MSMEs in India.
Global Open Finance Adoption Report 2024-2030
Be the first to access the Global Open Finance Adoption Report!
This comprehensive report, a collaboration between Sahamati and Open Finance Connect, explores pivotal trends, challenges, and opportunities shaping Open Finance across 48 countries. charts the path to one billion Open Finance users by 2030. It is an essential resource for policymakers, financial institutions, and entrepreneurs, offering insights to accelerate financial inclusion and innovation.
Press Release
India’s Account Aggregator Framework Crosses 100 million Consents in Three Years
The 1059% growth in FY 2023-24 makes it the fastest growing Open Finance Network in the World.
Newsletter
The Sahamati Newsletter September 2024
Find the latest events and updates about Account Aggregator ecosystem.
Event Announcement
Announcing Samvaad 2024!
Riding on the momentum of last year’s outstanding debut, which drew over 1,000 attendees from 450+ organizations—SamvAAd 2024 is poised to be an even more engaging and exciting event!
AA Ecosystem Map
Account Aggregator Ecosystem Map - June 2024
The ecosystem now includes over 600 entities, encompassing regulated entities such as Financial Information Providers (FIPs), Financial Information Users (FIUs), and Account Aggregators (AAs), along with Technology Service Providers (TSPs).
AA Workshop
Account Aggregator Ecosystem Workshop in Bengaluru!
Sahamati hosted its third roadshow on Account Aggregator (AA) Ecosystem in Bengaluru on August 6, 2024. This engaging event brought together over 45 organizations with 70+ attendees, across NBFCs, banks, LSPs, stockbrokers, RIAs, and TSPs.
Accounts Linked
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An Ecosystem that lets You be in Control of Your Data, Always
Learn From Peer
Learn from peers, experts and advocates to adopt and improve customer experience.
Shape The Ecosystem
Debate, discuss and decide key policies and practices to better the framework.
Champion Innovation
Get all the support needed to bring new ideas to life for your customers.
AA Ecosystem Participants
Each participant of the account aggregator network enables easy and secure exchange of data for the customer’s benefit.
Financial Information
Provider (FIP)
Institutions that are the ‘source’ of personal or business data which FIUs can access via requests through an AA.
Account
Aggregator (AA)
NBFCs that deliver data from Financial Information Providers (FIP) to Financial Information Users (FIU) with your consent.
Financial Information
User (FIU)
Institutions that receive the user-consented financial data from FIPsto provide services to thecustomers.
Signatories to Sahamati Participation Terms
Major financial institutions in India have adopted the Account Aggregator framework to provide consented data
HOW SAHAMATI CAN HELP
A Trusted Platform for Collaboration
Participate
Debate, discuss and decide key policies and practices to better the framework.
Adopt
Gain resources and tools to seamlessly integrate the framework within your present structure.
Innovate
Get all the support needed to bring new ideas to life for your customers.
Learn
Learn from peers, experts and advocates to adopt and improve customer experience.
“The Account Aggregator (AA) ecosystem is a fundamental shift in the way business will be done. That's really how we are driving the business at this point. Equipping us to collect client consent to access their bank statements in a structured manner and allow us to underwrite them right, price them right, expand exposures, and monitor the portfolio for early warning is a dramatic shift!”
Rajeev Jain
Managing Director– Bajaj Finance Limited (BFL) in the Q4 FY24 Earnings Conference Call
In the current integrated environment, the Account Aggregator (AA) ecosystem is likely to significantly impact digital lending to underpenetrated segments across Retail and MSME. We were the first Bank to launch digital lending through the AA framework in fiscal 2022 and have since scaled our AA-linked business significantly
Amitabh Chaudhry
MD & CEO Axis Bank in the 2022-23 Annual Report Statement
