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NEWSLETTER · JUNE EDITION |
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As the Account Aggregator (AA) ecosystem enters a new phase of maturity, this edition of Varta explores the momentum shaping its future.
We spotlight insights from Sahamati’s Data Unlocked Report FY26, examining how consent-based data sharing is unlocking new opportunities across capital markets and insurance while creating more seamless, trusted, and customer-centric financial experiences.
Also, stay abreast with updates from across the ecosystem and key developments that reflect the growing scale, impact, and collaborative spirit of India’s open finance journey.
As always, we hope this edition offers valuable perspectives on the ideas, innovations, and partnerships that continue to drive the evolution of the AA ecosystem.
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A financial plan for every Indian by 2047 may sound like an ambitious aspiration. Yet, the Account Aggregator (AA) framework is bringing that vision closer to reality.
For the first time, AA is making it possible to seamlessly present a comprehensive view of an individual’s personal financial information through secure, consent-based data sharing. This has the potential to fundamentally transform financial advice, making it not only more informed and contextual but also more personalized, timely, and accessible to every Indian.
The momentum behind this transformation continues to grow. Sahamati’s Data Unlocked Report FY26, released in June, highlights how the AA ecosystem is reshaping the capital markets and insurance industry. During FY26, the AA framework facilitated the delivery of over 3.76 crore financial products and services across these industries, enabling financial institutions to build deeper customer relationships by aiding access to trusted financial data and helping strengthen risk assessment.
As the ecosystem scales, robust governance becomes increasingly important. For Sahamati, the Reserve Bank of India’s recognition of Sahamati as the SRO for India’s AA ecosystem is both an affirmation of the role we have played in the evolution of the country’s AA framework and a responsibility we are privileged to shoulder.
We remain committed to working with all stakeholders to build a resilient, innovative, and trusted open finance ecosystem that advances India’s journey towards financial inclusion.
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The Pulse: Ecosystem Stats |
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2887+ M
Accounts Enabled
295 + M
Monthly Data Shares
176
FIPs Live on AAs
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1972+ M
Consents Raised
19+ M
Monthly Consents Fulfilled
1076 FIUs Live on AAs
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493+ M
Consents Fulfilled
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1117
Live entities on AA
17 Total Operational AAs
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SamvAAd 2026- India Open Finance Summit Is Back ↗️
It’s time for SamvAAd 2026, the flagship annual community event hosted by Sahamati, bringing together leaders from across India’s open finance ecosystem.
After two successful editions, the third event will be hosted from October 14-15, 2026, in Mumbai. This year’s event, which runs under the theme “Smarter Risk and Inclusive Finance,” will explore how shifts in these two areas are reshaping the financial ecosystem and creating new opportunities for innovation and inclusion. Registrations for the summit will open soon.
The Data Unlocked Report FY26 Is Live ↗️
Sahamati launched the Data Unlocked Report FY26 last month. As the relevance of AA broadens across financial sectors, the report spotlights the ecosystem’s significant milestones, particularly its role in transforming the capital markets and the insurance industry. It also offers a glimpse of AA’s growing role across financial services, highlighting the key factors shaping the next phase of growth.
Introducing a Framework for AI Agents in the AA Ecosystem ↗️
Sahamati Labs has published a design paper, “A Framework for AI Agents in the Account Aggregator Ecosystem”, proposing how AI agents acting on consumer financial data can be governed within the AA ecosystem. The paper is currently a draft for discussion and invites perspectives from the ecosystem on how AI agents can be designed to operate in alignment with consumer consent.
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SAANS Alerts on the FIP Performance for AAs Timely, reliable information is the foundation of a well-functioning ecosystem. Through the Sahamati API Analytics and Notification System (SAANS), Sahamati provides Account Aggregators with structured visibility into Financial Information Provider (FIP) health across key Application Programming Interface (API) performance indicators. This enables AAs to understand how a FIP is performing and compare it against the broader ecosystem.
The SAANS FIP alert report gives AAs a clear, consistent view of where the ecosystem needs attention. As SAANS expands to cover FIPs and Financial Information Users (FIUs), this intelligence will become available to all Sahamati Members, equipping every member with the same quality of operational insight and raising ecosystem accountability.
Refer below to know more about the FIP Health Alert Dashboard 👇 | |
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Sahamati’s First Members-Only Meet Sparks Dialogue on the Future of the AA Ecosystem Sahamati’s first Members-Only Meet brought together ten member organizations on June 17, 2026. Participants engaged in an afternoon of focused conversations on what comes next for the AA ecosystem. Key topics that were covered included ecosystem direction, communication and coordination across the network, policy and governance, and a roadmap for member success. We thank every member organization that joined us and contributed to the conversation. We also invite members who missed this event to participate in our next meet.
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India’s Digital Public Infrastructure (DPI) continues to be recognised as a global model for advancing financial inclusion. During a recent meeting with Her Majesty Queen Máxima of the Netherlands, also the United Nations Secretary-General’s Special Advocate for Financial Health, India’s DPI, including the AA framework, was highlighted for making financial services more accessible, affordable, and empowering for citizens at scale. The discussion also reaffirmed India’s commitment to sharing its experience with partner countries around the world.
Sahamati CEO BG Mahesh attended the meeting, underscoring the growing role of the AA ecosystem in India’s global conversations on digital public infrastructure and financial inclusion.
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Citing Sahamati’s Data Unlocked Report FY26, Economic Times highlights the AA ecosystem’s evolution beyond credit underwriting into a broader financial services infrastructure. This growth underscores how the Account Aggregator framework is becoming a foundational layer for secure, consent-based financial data sharing and innovation across India’s financial ecosystem.
SME Street announces the launch of Sahamati Labs’ new framework for AI agents in the AA ecosystem, underlining its foundational elements of consent, accountability, audibility, and trust. The framework marks a significant step toward enabling responsible AI adoption in finance by ensuring that intelligent agents operate within a secure, transparent, and consent-driven digital ecosystem. |
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From the Ground: The AA Impact Story |
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The insurance aggregator sells almost 25% of India’s life insurance via its digital platform. Yet, for most insurance companies, like the insurance aggregator, financial underwriting to evaluate an applicant’s financial situation and determine their coverage amount can be a laborious process.
To address this, the insurance aggregator created a simpler, seamless customer experience, replacing manual data collection with secure, consent-based data sharing.
The AA solution: Leveraging the AA ecosystem, the insurance aggregator enabled consent-based access to customers’ bank accounts, facilitating life insurance underwriting. For income verification, it redirected customers to the AA flow so that they could share bank data securely.
The Impact Created: The insurance aggregator streamlined and transformed its financial underwriting process in three simple ways:
#1. Automated income verification, accelerating the underwriting process and policy issuance. #2. Lower customer friction, simplifying the digital onboarding journey. #3. Structured financial data, reduces manual verification and enables greater straight-through processing.
Together, this enabled the insurance aggregator to assess its customers’ financial eligibility and issue insurance policies faster than it had ever done before. Results delivered: Powered by the AA framework, the insurance aggregator reshaped its underwriting process, making it quicker and more efficient. Its new model also significantly strengthened India’s digital distribution of life insurance. | |
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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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