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Open
Finance
and
the
AA
ecosystem
aren’t
only
changing
how
financial
data
is
shared
and
used;
they
are
driving
how
Personal
Finance
Management
(PFM)
services
are
reshaping
financial
awareness
and
overall
financial
health
in
India.
That’s
what
CGAP’s
recent
customer
research
survey
confirmed.
Today,
PFM
services
go
beyond
static
budgeting.
As
the
Open
Finance
ecosystem
deepens
and
AI
capabilities
evolve,
it
is
powering
how
digital
customers
manage
daily
finances,
access
emergency
funds,
plan
for
the
future,
and
build
their
net
worth.
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As
one
financial
year
closes
and
another
begins,
it is a
natural
moment
for
reflection
on the
financial
well-being
of
millions
of
Indians.
The past
year has
reinforced
that
financial
inclusion
is not
just
about
access.
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Access
is
only
the
starting
point;
true
impact
is
realized
when
inclusion
is
sustainable
and
consistently
used,
resulting
in
meaningful
outcomes
that
improve
financial
health
for
every
Indian. Personal
Finance
Management
(PFM)
services
are
powerful
catalysts
in
such
a
transition.
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By
bringing an
individual’s
financial
information into
a single,
actionable view
and layering
intelligence
through AI,
these tools help
users stay
engaged with
their finances
and make
repeated,
informed
decisions that
turn them into
active financial
decision-makers.
For the AA
ecosystem, this
signals a clear
direction.
Open
Finance,
anchored
in the
AA
framework,
is not
just
about
data
enabling.
It is
about
ensuring
that
consented
data is
consistently
translated
into
meaningful
financial
outcomes.
As
we step
into the
new
financial
year,
the
focus
must
remain
on
ensuring
that
access
evolves
into
sustained
financial
benefit
for
every
individual.
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The Pulse:
Ecosystem
Stats
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431+
M
Consents
Fulfilled
22+
M
Monthly
Consents
179
FIPs
Live
on
AAs
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284+
M
Accounts
Linked
12+
M
Monthly
Accounts
Linked
989
FIUs
Live
on
AAs
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276+
M
Monthly
Data
Shares
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1157
Live
REs
on
AA
17
Total
Operational
AAs
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Sahamati
is delighted to
welcome four
distinguished
leaders to its
Board of
Directors
↗️
Each
of
them
brings
a
lifetime
of
institution-building,
public
service,
and
sector-shaping
work.
Together,
they
reflect
the
growing
recognition
of
the
Account
Aggregator
framework
as
a
foundational
infrastructure
for
India’s
financial
future,
and
of
Sahamati’s
role
in
stewarding
it:
·
Mr.
R.
Gandhi,
Former
Deputy
Governor
of
the
Reserve
Bank
of
India
·
Mr.
Nandkumar
Saravade,
Founding
CEO
of
Reserve
Bank
Information
Technology
Pvt.
Ltd.
·
Ms.
Monika
Halan,
Founder-
Dhan
Chakra
Financial
Education
·
Mr.
Suraj
Moraje,
former
Senior
Partner
at
McKinsey
&
Company
and
former
CEO
of
Quess
Corp
Limited.
The
journey
ahead
is
one
worth
every
bit
of
the
effort,
and
with
this
Board
as
part
of
our
journey,
it
promises
to
be
even
more
exciting.
Let
us
continue
to
build
with
even
greater
purpose,
energy,
and
speed.
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Common
Standards and Best
Practices
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As
part of our
#FairUseExplained
series, Sahamati
recently hosted a
webinar on
“Fair Use
Explained:
Understanding PFM
and Wealth
Management
Templates”.
The session explored
how PFM and Wealth
Management templates
define the
boundaries of
responsible
financial data use
on Account
Aggregator, setting
upper limits on the
scope of data that
may be requested and
the guardrails
designed to
safeguard user
interests.
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Products
and Services
Securing the
Ecosystem:
Introducing the New
Entity Secret
Rotation Portal
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To
strengthen security
across the Account
Aggregator ecosystem,
Sahamati has launched a
streamlined web portal
for Entity Secret
rotation—a
critical security
practice that was
previously only
available through API
calls, which many
participants found
challenging to
implement.
With
Client Secrets now
expiring every 180 days,
entities are required to
rotate their secrets
regularly to maintain
uninterrupted access and
prevent token misuse or
compromise.
Recognizing the friction
in the API-only
approach, our new
self-service portal
makes the rotation
process simple and
intuitive, enabling
designated authorised
users to rotate secrets
in just a few
clicks.
This
user-friendly solution
removes technical
barriers while
maintaining the highest
security standards,
ensuring all ecosystem
participants can easily
comply with the rotation
mandate and protect
their
credentials.
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Taking
the
AA
Framework
to
Registered
Investment
Advisors
We
are
pleased
to
announce
that
BG
Mahesh,
CEO
of
Sahamati,
participated
in
ARIA
Aspire
2026,
the
flagship
annual
conference
and
summit
hosted
by
the
Association
of
Registered
Investment
Advisers
(ARIA)
in
India.
This
year’s
summit
convened
key
stakeholders
across
the
financial
services
sector
around
the
theme
Unbiased
Financial
Advice
for
Viksit
Bharat.
Mr
Mahesh
spoke
about
the
evolving
AA
ecosystem
and
the
benefits
of
using
it
for
Registered
Investment
Advisors
in
his
fireside
chat
on
AA’s
Next
Milestones
for
RIAs
–
Challenges
and
the
Way
Forward.
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Sahamati
Showcases
India’s
Open Finance
Journey to
Brazilian
Delegation
Sahamati
recently hosted a
delegation from
Brazil at our
Bengaluru office for
an interactive
session on
India’s Open
Finance journey. The
discussion explored
the design choices
behind India’s
AA ecosystem,
demonstrating how it
is enabling secure,
trusted data sharing
through its
consent-based,
federated model.
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From
the Ground: The
AA Impact
Story
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L&T
Finance
has
embedded
Account
Aggregator
(AA)
integrations
across
multiple
lending
journeys,
including
personal
loans,
two-wheeler
financing,
and
microfinance.
This
is
particularly
impactful
for
self-employed
and
thin-file
customers,
where
access
to
verified
financial
data
has
traditionally
been
limited.
Challenge
Lending
to
underserved
segments
often
involves
incomplete
or
unverifiable
financial
information,
leading
to
conservative
underwriting,
lower
loan-to-value
(LTV)
ratios,
and
higher
interest
rates.
Additionally,
risks
such
as
multi-funding
in
personal
loans
pose
challenges
to
credit
quality.
Solution
By
leveraging
the
AA
framework,
L&T
Finance
enables
the
secure
and
consented
flow
of
financial
data
directly
into
its
AI/ML-driven
underwriting
systems.
This
allows
for
real-time,
reliable
assessment
of
borrower
profiles
across
lending
products.
Key
Outcomes
Improved
Data
Availability:
Around
70%
of
two-wheeler
loan
applications
are
now
supported
with
AA-enabled
bank
data
Enhanced
Underwriting:
Use
of
consented
financial
data
has
enabled
higher
LTV
ratios
and
more
competitive
interest
rates
Stronger
Risk
Controls:
Improved
credit
risk
management
in
personal
loans
through
detection
and
prevention
of
multi-funding
Scalability:
AA
adoption
is
expected
to
expand
further
across
all
loan
products
Impact
The
integration
of
AAs
has
strengthened
both
access
and
risk
intelligence—enabling
L&T
Finance
to
serve
underserved
segments
more
effectively
while
maintaining
robust
credit
discipline.
By
combining
consent-driven
data
sharing
with
advanced
analytics,
the
institution
is
setting
a
benchmark
for
scalable,
inclusive,
and
responsible
lending.
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Sahamati
Foundation
is a
member-driven
industry
alliance
formed to
promote and
strengthen
the Account
Aggregator
ecosystem in
India.
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