The Reserve Bank of India released the updated version of Master Direction- Non-Banking Financial Company – Account Aggregator (Reserve Bank) Directions, 2016 on October 5, 2021. The previous version was released on November 22, 2019. Notable changes in the current version are, 3. Definitions viii (a). “Dividend Payout Ratio” means the ratio between the amount […]
Open House for Technology Service Providers of the Account Aggregator Ecosystem – Oct 2021
On October 1, 2021, Sahamati held an open house for the technology service providers (TSPs) of the AA ecosystem. TSPs have played an important role in the implementation of the AA Standards. TSPs are the force multipliers for the AA ecosystem. In 2019 we had a handful of TSPs. Over the last year, we have […]
Account Aggregators – Making Investing and Borrowing Simpler
Despite the immeasurable humanitarian impact that COVID-19 has had on the world, it is hard to ignore its contribution to the massive digital disruption that is changing the way we work and do business. Companies that are well-positioned to leverage the shift towards remote working, digital payments and online shopping are witnessing their top-lines rise […]
Account Aggregator Ecosystem Map – August 2021
The infographic shows the following players from the account aggregator ecosystem, Account Aggregators Technology Service Providers FIPs and FIUs You can download the infograhic here. Please feel free to use this infographic without making any alterations. September 2, 2021: Account Aggregator Ecosystem Go-Live (more…)
Account Aggregator Ecosystem Go-Live
iSPIRT hosted a virtual launch of the industry-wide Account Aggregator (AA) ecosystem on September 2, 2021. The event announced the major financial institutions that have gone live, and demonstrates the powerful use cases of AA. It is a major milestone for the AA framework for consented data access and sharing in the financial sector. Related […]
Empowering Alternate Data Collection for Digital Lending with Account Aggregator Framework – Challenges & Solutions: PART – 2
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 […]
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 […]