Drive the Change
A part of the AA ecosystem, an FIP can help by,
Helping the customers access historic data easily
Supporting customers to use innovative new financial services conveniently
Bringing diverse and innovative products to market
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 FIP?
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
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.
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 FIP module
Implement RBI-defined API specifications for your callback API functions. Find the details here published by ReBIT.
Test your module
Test your FIP module against one or more of the RBI-approved Account Aggregator Sandboxes.
Solutions by Sahamati
Frequently Asked
Questions
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).
Please explain the technical steps for a FIP to connect with an AA.
Please see this document for the detailed steps.
Which entities can participate in the AA ecosystem?
Companies registered and regulated by any of the 4 regulators – Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA) can be a FIP or FIU. See “License types by RBI, SEBI, IRDAI, PFRDA“.