Drive the Change
As part of the AA ecosystem, an FIU can use financial data of customers to,
Provide instant access to new products and services
Speedening the process of approvals
Give wider and additional services across spectrums
Data Empowerment a Reality with
the AA Ecosystem
Secure and seamless sharing of data through encryption
User-controlled data sharing with unified consent management
No physical document collection or submission, preventing leakage and misuse
No sharing login credentials with third parties reducing security breach
How to become an FIU?
As per the RBI directive, every entity needs to be a FIP first and then an FIU to ensure the sustainability of the ecosystem. Follow these steps to start your journey as an FIP
Get registered with a Financial Service Regulator
Get registered and regulated by at least one of the Financial Service Regulators (FSR), namely — RBI, SEBI, IRDAI, PFRDA.
Implement the FIU module
Implement RBI-defined API specifications for your callback API functions. Find the details here published by ReBIT.
Test your module
Test your FIU module against one or more of the RBI-approved Account Aggregator Sandboxes.
Enrol your module
Make it official by enrolling in the UAT-Central Registry, a directory of all entities that are testing their implementation in the development environment.
Get certified
Get your certification showing adherence to Technical Standards prescribed by ReBIT by a Sahamati empanelled auditor. See here
Get your details publicised
Get your details added by Sahamati to the Central Registry- a directory of all entities that have gone live on the AA ecosystem.
Launch your service
Start connecting with account aggregators and launch your service with customers.
Solutions by Sahamati
Use the following services offered by Sahamati to seamlessly integrate the AA <br> framework within your organisation.
FAQs
Why should a AA or FIP or FIU get certification?
We strongly recommend that FIP/AA/FIU get their implementation certified. It guarantees interoperability, enabling FIPs and FIUs to seamlessly connect with a network of AAs (and vice versa).
Can the Account Aggregator view the customer’s data as it is shared to FIUs?
No. The data being transmitted through the AA is encrypted. Also, AAs are not allowed to store, process and sell the customer’s data. This is designed to ensure AAs do not have a conflict of interest when designing processes to obtain consent for access to user data.
What kind of data can an FIU access through an AA?
Currently only asset based data is available (bank accounts, deposits, mutual funds, insurance policies, pension funds). Other data types are likely to be added over time.