SamvAAd 2024
19 Nov 2024
Reflecting on SamvAAd 2024!
Held on November 19, 2024, at Westin Powai Lake, Mumbai, SamvAAd 2024 saw 1,200 attendees from over 550 organizations participate to experience the ecosystem’s increasing impact, innovation, and implementation maturity. Participants included regulators, policymakers, financial institutions, fintech startups, investors, accelerators, think tanks, and impact organizations.
SamvAAd 2024 marked a pivotal moment. It marked the Account Aggregator ecosystem as not only the fastest-growing Open Finance ecosystem worldwide—with an impressive 1059% year-on-year growth from 2022-23 to 2023-24—but also the largest, having surpassed 100 million consents as of August 2024.
We also released a customer showreel documentary: “Unlocking Finance: Data Empowerment through Consent” that highlights how the Account Aggregator (AA) ecosystem changes how people access and use financial services. The film showcases real stories of how this ecosystem breaks barriers, making formal financial products available to many underserved and unserved customer segments.
Agenda
Experience the 3Is (Impact, Innovation and Implementation) of Open Finance in India
Keynote |
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| 09:30 am – 09:35 am | Launch of Sahamati’s Showreel on Unlocking Finance: Data Empowerment through Consent |
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| 09:35 am – 09:50 am | Welcome Remarks, followed by lamp lighting Mr. BG Mahesh, CEO, Sahamati Mr. Siddharth Shetty, CTO, Sahamati |
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| 09:50 am – 10:20 am | Address by Keynote Speaker Mr. KV Kamath, Banking Veteran and Non-Executive Chairman, Jio Financial Services |
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| 10:20 am – 10:30 am | Evolution and Progress of Participatory Governance in the AA Ecosystem Mr. R. Gandhi, Former Deputy Governor, RBI Advisory Council, Sahamati |
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| 10:30 am – 10:40 am | Address by Guest of Honor Mr. Ashish Verma, General Manager, Reserve Bank of India |
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| 10:40 am – 10:55 am | Address by Special Guest Mr. Chanchal Sarkar, Adviser, Financial Stability & Cyber Security(FS&CS) and IER, Department of Economic Affairs, MoF |
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| 10:55 am – 11:05 am | Tea Break | ||
| 11:05 am – 11:25 am | Fireside Chat, Evolving Policy and Regulation in an Interconnected Open Finance World Mr. Ivan Mortimer Schutts, Financial Sector Development Expert, IFC with Mr. Rahul Matthan, Author, Partner- TriLegal |
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| 11:25 am – 11:40 am | AI Meets Open Finance: Fintech on Steroids for the Next Decade Mr. Sharath Bulusu, Director & Product Head, GPay |
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| 11:40 am – 11:55 am | Responsible Credit in Open Finance Mr. Kunal Shah, Founder, CRED |
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| 11:55 am – 12:30 pm | Sahamati’s Global Open Finance Adoption Report Launch; Architecting Open Finance for 1 Billion Users & Beyond Dr. Pramod Varma, Former Chief Architect Aadhaar, UPI, & India Stack, CTO-EkStep Foundation, and Mr. Kiran Gopinath, Founder, Open Finance Connect |
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| 12:30 pm – 12:45 pm | Felicitating the Builders and Innovators of the AA ecosystem by Shri Nandan Nilekani Mr. Nandan Nilekani, Co-founder and Chairman, Infosys, and Founding Chairman UIDAI (Aadhaar) |
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| 12:45 pm – 01:30 pm | Launch of Sahamati’s paper Open Finance: From Inclusion to Empowerment of MSMEs in partnership with Mckinsey & Company
Ms Shalini Gupta, Chief Policy & Advocacy Officer at Sahamati Fireside chat: Account Aggregator and the India Growth Story |
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TRACK 1: EXPERIENCE AND LEARN FROM THE FIRST MOVERS |
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| 02:10 pm – 02:15 pm | Felicitating the Judges for 3l Competition Mr. B.G. Mahesh, CEO, Sahamati |
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| 02:15 pm – 02:25 pm | Accelerating Digital Transformation: A Winner’s AA Playbook for Success Team Bajaj Finance with Moneyone |
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| 02:25 pm – 02:35 pm | Empowering Financial Independence and Security for Seniors: The AA Magic Team Genwise with Saafe AA and Ignosis TSP |
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| 02:35 pm – 02:45 pm | Empowering Commerce: Leveraging AA to build solutions that work with ONDC Team Karnataka Bank, with FinVu AA and Ignosis TSP |
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| 02:45 pm – 03:30 pm | Building Inclusive Personal Finance Models, Panel Discussion
Moderator: Panelists: |
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| 03:30 pm – 03:40 pm | Fast-Tracking Insurance Approvals: Leveraging AA for Smarter, Quicker Decisions Team SBI Life insurance with NADL AA and Finarkein Analytics |
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| 03:40 pm – 04:00 pm | “Customer Awareness and Perceptions of the AA Framework” : Results of Customer Survey by CGAP and Sahamati • Ms. Arisha Salman, Financial Sector Specialist, Finance for Inclusive Development, CGAP • Mr. Rutvik Paikine, Policy and Communication Analyst, Sahamati |
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| 04:00 pm – 04:10 pm |
Evening Tea Break |
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| 04:10 pm – 04:20 pm | Unlocking Credit Access for Street Vendors: The Role of AAs in PM SVANidhi Team HDFC Bank with Anumati AA and Finagg |
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| 04:20 pm – 04:30 pm | Mitigating Risk: Strengthening Data-Driven Lending with AA
Team Helpage Finlease Limited FinVu AA FinAGG |
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| 04:30 pm – 05:15 pm | Harnessing Open Finance Data and Collaborative Efforts for Enhanced Fraud Detection, Panel Discussion
Moderator: Panelists: |
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| 05:15 pm – 05:45 pm | Showcase of pilots of AA for Financial Inclusion • Mr. Kartik S Mehta, Co Founder, Pahal Financial Services • Mr. Rupal Sethi, Sales Head, CredRight Finance Pvt Ltd • Mr. Debdoot Banerjee, Senior Director, Accion • Mr. Abhishek Varshney, Sr. Lead Partnership Sahamati |
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TRACK 2: EXPLORE EMERGING POSSIBILITIES AND OPPORTUNITIES |
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| 02:15 pm – 03:00 pm | Sahamati NextWave: Elevator Pitches by AA-powered Startups
Investors with Cheque Books |
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| 03:00 pm – 03:30 pm | Investment Opportunities in the AA Ecosystem, Investors Discussion
Moderator: |
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| 3:30 pm – 4:00 pm | Fireside Chat with ONDC
T Koshy, ONDC ,CEO and Hrushikesh Mehta, Senior Vice President of Financial Services at ONDC |
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| 04:00 pm – 04:30 pm | Enhancing Privacy in the Transition from Open Banking to Open Data, Panel Discussion
Moderator: Panelists: |
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| 04:30 pm – 04:45 pm |
Evening Tea Break |
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| 04:45 pm – 05:15 pm | Emerging Global Trends in Data Protection and Privacy, Panel Discussion
Moderator: |
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| 05:15 pm – 06:00 pm | Unlocking Potential: Open Finance & Inclusion, Panel Discussion
Moderator: |
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TRACK 3: BUILDING BEST IN CLASS ECOSYSTEM |
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| 02:10 pm – 02:15 pm | Felicitating the Judges for Sahamati BuildAAthon Mr. Pramod Varma, Former Chief Architect Aadhaar, UPI, & India Stack, CTO-EkStep Foundation |
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| 02:15 pm – 02:30 pm | Democratizing Insurance and Investment Advisory for Indians, Showcase Winner Team TrustSphere |
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| 02:30 pm – 02:45 pm | Empowering Customers to Leverage their Digital Footprints, Showcase Winner Team Nominee Ninja |
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| 02:45 pm – 03:00 pm | Risk Management Solutions for the Ecosystem, Showcase Winner Team Multi-lingual Gen AA Voice BOT-based AA consent |
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| 03:00 pm – 03:30 pm | Presentation on SahamatiNet, Telemetry, and Observability Infrastructure, followed by a Fireside chat • Mr. Ganesh Jayadevan, Head of Products and Engineering Operations, Sahamati • Mr. Siddharth Shetty, CTO, Sahamati • Mr. Rajat Deshpande, Co-Founder & CEO, Finbox |
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| 03:30 pm – 04:15 pm | Participatory governance imperatives and initiatives for the AA Ecosystem, Panel Discussion
Moderator: |
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| 04:15 pm – 04:30 pm |
Evening Tea Break |
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| 04:30 pm – 05:00 pm | Fair Use Initiatives in the AA Ecosystem: A Report Card • Ms. Shalini Gupta, Head of Strategy & Policy • Ms. Geethashree Srikantha, Senior Lead-Operations |
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| 05:00 pm – 05:45 pm | Reimagining Strategies for Large Institutions in the Open Finance Era
Moderator: |
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