Sahamati (DigiSahamati Foundation), is a member-driven industry alliance formed to promote and strengthen the Account Aggregator ecosystem in India. It is a not-for-profit private limited company under Section 8 of the new Companies Act of India.
We are bringing together people and organisations from different backgrounds like finance, law, and technology to set and achieve audacious goals for India’s Data Empowerment and Protection Architecture and the Account Aggregator network. This will help give users better control over their data and gain access to many innovative services and products easily.
AA Alliance Organising Principles
industies and sectors willing to make data empowerment a reality.
The focus of the Sahamati AA alliance is to serve the needs of all its members, regardless of size, business, role or patronage to the alliance.
Sahamati governance is influenced by considerations of member’s voice, representation and expertise.
Sahamati’s funding needs are met by membership fees and sponsorships, with members acting as ‘owners’ of the alliance.
No Governance Capture
Governance is independent of the funding sources. The governance council is responsible for all decisions influencing members.
Sahamati Governance Design Principles
Aimed at balancing all members’ voices and opinions, this is how the Sahamati governance structure works
All members meet annually
All members are invited for an Annual Members Conference and also attend the Annual General Meeting (AGM) during the time.
Become part of Steering Committees
All members are invited to join Steering Committees, as applicable to their type of business. This currently includes the following 7 committees – Banks, NBFCs, AAs, TSPs, RIAs/Securities, Insurance, Pension Funds.
Representatives in Governing Council
Each Steering Committee nominates an “expert” member to the Sahamati Governing Council (GC) as a representative of their voice.
Come together to share expertise
The GC consists of member-nominees and industry experts, endorsed by Steering Committee Chairs. GC members are appointed by invitation from the Sahamati Board.
Helped by Expert Advisory Council
The GC is assisted by a separate Expert Advisory Council consisting of 3-5 subject matter experts from different sectors.
Sahamati Governance Structure
Governing Council Composition
The Governing Council (GC) is responsible for all decisions that influence the
fulfillment of members’ needs. It consists of industry experts, nominees from
steering committees, Sahamti CEO and a public interest director. All members
have a minimum tenure of 12 months. Meet the current Governing Council
One representative from each of the seven steering committees, nominated by the members.
Invited by Sahamati board/ nominations committee to provide guidance on adoption and governance of the new ecosystem.
Invited to bring objectivity and independence of view and to help provide insights on decisions affecting the ecosystem.
Advisory Council Composition
The advisory council consists of 3-5 subject matter experts invited by the
Sahamati board or the Governing Council. Meet the current Advisory Council
Regulation & Compliance
An expert in the field of financial sector regulations, typically having served in a senior regulatory role
Legal & Governance
An expert in the area of law, governance and policy-making, particularly techno-legal frameworks and privacy
An expert in the area of large-scale technology architecture, with deep expertise in Indian and Global markets
- Promote the AA ecosystem amongst citizens and institutions
- Operate a framework for smooth grievance redressal of all customer complaints
- Publish participation terms and codes of conduct for our members.
- Educate customers and participants about all aspects (technical, legal, business) of the AA ecosystem
- Promote interoperability, security and user experience standards amongst our members.
- Publish Research and Whitepapers
- Offer common public infrastructure needed for interoperability and a common understanding of ecosystem status
- Offer a platform for participants to present a common voice to policymakers
Want to Enable Data Empowerment in India?
Contact Sahamati today to get help with onboarding.