Towards the beginning of 2020, high-ranking government officials will preside over the launch of India’s Data Empowerment and Protection Architecture (DEPA). These high-profile launch plans for DEPA are commensurate with the high level of impact this system can generate. Similar to how UPI changed the payments landscape of India, DEPA has the potential to completely […]
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Account Aggregator Demo by OneMoney
OneMoney is one of the account aggregators licensed by the RBI. This demo will walk you through the process, showing an end customer signing up with Onemoney Account Aggregator mobile app. The demo shows how a customer can discover and link his/her existing bank accounts (Financial Information Providers – FIPs) via Onemoney mobile app. You […]
RBI announces Technical Specifications for all participants of the Account Aggregator (AA) ecosystem
In a notification on November 8 2019, the RBI’s announced the Technical Specifications for the Account Aggregator system. The notification can be accessed here. Earlier, the RBI published the “Non-Banking Financial Company – Account Aggregator (Reserve Bank) Directions, 2016” on September 6, 2016. Reserve Bank Information Technology Private Limited (ReBIT), has framed these specifications. The […]
OneMoney becomes the first Account Aggregator to get an Operating License from RBI
Account Aggregation (aka AA), in concept, is the same as Open Banking in the west, maybe accurately described as a game-changer for how financial transactions and planning will be done. In fact, the World, including India, are all moving towards the fundamental concepts that data in value is like money, belongs to the principal – […]
Media Coverage of Account Aggregator Ecosystem
A list of articles published in various media which covered the topic of Account Aggregators of listed here. India’s Account Aggregator focuses on empowering individuals with their data by enabling them to digitally consent and share their financial data with a potential loan provider – Sushant Kumar, Mint Economic Survey of India 2019-20 proposes formation […]
Media Coverage for July 25 AA Closed User Group Event
On July 25, 2019, a Closed User Group event of the Account Aggregator ecosystem was held in Mumbai. The official press release can be accessed here. We thank the media for covering this event. This will help in our evangelization mission. The new infrastructure, an account aggregator (AA) platform promises to give users full control […]
Nandan Nilekani introducing the Account Aggregator at CUG on July 25, 2019
India is at a unique juncture in its history. With the advent of digital technologies and the spread of cheap mobile internet, we are at a point when Indians soon become data-rich, before its people become economically rich. This is a unique situation globally, and we have to cross uncharted waters to convert this data […]
Clarification to media reports of today’s Closed User Group event
Today (July 25, 2019) there was a closed user group event of the Account Aggregator ecosystem held in Mumbai. We had shared our official press release with the media. However, we see few articles have misrepresented the details of the product and our role. Business Line reported that Sahamati is an account aggregator. Our clarification: […]