Interoperability and Trust Will Shape the Next Phase of India’s Account Aggregator Ecosystem
India’s Account Aggregator (AA) ecosystem is entering a new phase, with interoperability, data standardisation and responsible innovation emerging as key priorities.
Delivering the inaugural keynote at Sahamati’s SamvAAd 2026, Shri Kesavan Ramachandran, Executive Director, Reserve Bank of India (RBI), emphasised that customer consent remains the foundation of open finance.
Interoperability and standardisation
Welcoming RBI’s recent policy announcement on AA interoperability, he highlighted the need for consistent systems that enable seamless data sharing across Account Aggregators, improve access for financial institutions and create a more level playing field for smaller participants.
He also stressed the importance of standardised data formats to make financial information more accurate, understandable and useful.
Protecting customer trust
The AA framework’s data-blind architecture ensures that Account Aggregators do not store customer financial information. Data is shared only with consent and for authorised purposes.
Shri Ramachandran underscored the need to prevent unauthorised access and data monetisation, while ensuring customers retain control over their information. He also highlighted reciprocity, calling on institutions to fulfil their responsibilities as both providers and users of financial information.
Innovation with accountability
Positioning AA alongside India’s digital public infrastructure, including JAM, UPI and the Unified Lending Interface, he highlighted its potential to advance financial inclusion and safer lending, particularly for first-time borrowers.
He also recognised the potential of artificial intelligence, emphasising the need for prudent adoption and safeguards against security risks.
As the ecosystem evolves, Shri Ramachandran highlighted Sahamati’s role as a self-regulatory organisation in advancing interoperability, standardisation and coordination.
The central message was clear: the next phase of open finance must combine innovation with customer consent, data protection and trust.