In Part 1 of our blog, we talked about the importance of alternate data and the role it plays in making lending easier for the large segment of the untapped population thereby leading to financial inclusion. Now, let’s look at the possible hurdles in achieving our goals of financial inclusion. Challenges in gathering and using […]
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Empowering Alternate Data Collection for Digital Lending with Account Aggregator Framework – Introduction
In this 2-part blog, we are going to explore some of the use cases in digital lending which can be empowered by RBI’s Account Aggregator Framework specifically in the context of alternate data gathering. But before I walk through the use case, it’s important to understand the larger goal of financial inclusion. Today, millions of […]
Guidelines for creating a secure SDK for Account Aggregator Clients
Sahamati would like to thank Team Repute (Raviteja Sriram, Deepak Dhar, Puneet Gupta and other team members) and our security experts (Saurabh Panjwani, Sumit Gwalani, SasiKumar Ganesan) for volunteering with us on developing the guidelines. Account Aggregators can provide their client-facing apps via a website client, mobile app or SDK (software development kit). SDKs give […]
Account Aggregator Ecosystem progress report for 2020-21
The financial year 2020-21 has just ended, it was a very important year for all of us, we made significant progress to get the AA ecosystem to where it is today in spite of the pandemic. Each of us was quick to adapt to the new work environment (full-time WFH for many months!) to work […]
Account Aggregator Community Event Panel Discussion: How will data drive the next generation of Digital Finance?
Amit Goel (Cofounder, Medici) moderated the panel discussion. The expert panel consisted of Saurabh Nigam (CTO, DMI Finance), Manish Bhatia (President – Lendingkart Technologies), Srikanth Rajagopalan (CEO, Perfios AA), and Arjun Singh (Managing Director, Asia, Yodlee). Importance of Data Authenticity (2:50s) Authentic and accurate data is the foundation of all the innovations in digital finance. […]
Account Aggregator Community Event Panel discussion: ‘Open banking and its impact on Indian consumers’
Lars Markull moderated the panel discussed. The expert panel consisted of Anjani Rathor (Chief Digital Officer, HDFC Bank), Bijith Bhaskar (National Head, Digital Banking, Partnerships and e-commerce, ICICI Bank), Sameer Shetty (Head, Digital Business and Transformation, Axis Bank), Anshuj Sahaya (Business Head, Business Loans – Direct at Bajaj Finserv), and Raveesh Bhatnagar (SVP and Head […]
Open Banking in India gets a significant boost with early adopters getting Certified on the Account Aggregator ecosystem
Bangalore, January 3, 2020. DigiSahamati Foundation (or Sahamati) announced the go-live of the first wave of early adopters in the Account Aggregation (AA) eco-system in the first-ever AA community event on December 28, 2020. These early adopters are Axis Bank, HDFC Bank, ICICI Bank, Indusind Bank, Bajaj Finserve, DMI Finance. The account aggregator framework empowers […]
Unified Nominations Register (UNR) with Account Aggregator Framework
Retail investors in India have various options to make investments to get better returns, such as equities, mutual funds, pension funds, and fixed deposits. Each of these assets provides an option to nominate a beneficiary who will receive the proceeds in the event of an investor’s unfortunate demise. However, the nomination process is neither uniform […]