We believe in a world where every individual has access and control over their data. We believe agency over data could empower Indians with opportunities to improve their own lives.
DigiSahamati Foundation (Sahamati) is a self-organised Industry Alliance for the Account Aggregator ecosystem set up as a not-for-profit private limited company under Section 8 of the new Companies Act of India.
We seek to convene people and organizations from different backgrounds (Finance, law, technology) to set and achieve audacious goals for India’s Data Empowerment and Protection Architecture and the Account Aggregator network.
Sahamati AA Alliance: Organizing Principles
The focus of the Sahamati AA alliance is to serve the needs of all its members, regardless of size, business, or role in the alliance. A “member” of Sahamati is an AA-adopting entity that wishes to have a voice in Sahamati’s governance.
Sahamati’s funding needs are met by membership fees and sponsorship. It has no investors. Members are the “owners” of Sahamati. Sponsors are not treated as “owners”.
No Governance Capture
Governance is independent of the funding sources. Governance is influenced by considerations of members’ voice, representation and expertise. The Governing Council is responsible for all decisions influencing members’ well-being, including membership fee structure and service offerings to members.
Sahamati Governance: Design Principles
The Governance Structure is aimed at balancing the following considerations
All members are invited for an Annual Members Conference during which an Annual General Meeting (AGM) of Sahamati will also be held.
All members are invited to join Steering Committees, as applicable to their type of business
7 Steering Committees as of now: Banks, NBFCs, AAs, TSPs, RIAs/Securities, Insurance, Pension Funds.
Each Steering Committee nominates an “expert” member to the Sahamati Governing Council (GC)
The GC consists of expert-member-nominees and industry experts, endorsed by Steering Committee Chairs. GC members are appointed by invitation from the Sahamati Board. A Nominations Committee shall be constituted in the future.
The GC is assisted by a separate Expert Advisory Council.
Sahamati Governance Structures
The following constitute the governance structure of Sahamati,
- Steering Committees – One for each type of participant in the AA ecosystem. Steering Committee members choose an Anchor for their respective Committee.
- Governing Council – GC has one member from each of the Steering Committees, 6 industry experts nominated by Sahamati, Sahamati CEO, Public Interest Director
- The Advisory Council has 3-5 subject matter experts.
Advisory Council: Composition
|Area of Expertise||Profile|
|Regulations and compliance||An expert in the field of financial sector regulations, typically having served in a senior regulatory role
|Legal and Governance||An expert in the area of law, governance and policy-making, particularly in areas of techno-legal frameworks and privacy
|Technology Architecture||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
- Publish participation terms and codes of conduct for our members.
- Promote interoperability, security and user experience standards amongst our members.
- Offer common public infrastructure needed for interoperability and a common understanding of ecosystem status
- Operate a framework for smooth grievance redressal of all customer complaints
- Educate customers and participants about all aspects (technical, legal, business) of the AA ecosystem
- Publish Research and Whitepapers
- Offer a platform for participants to present a common voice to policymakers