We are excited to launch the 3I Competition as part of SamvAAd 2024, celebrating how the AA ecosystem transforms the financial services industry in India. The competition will spotlight success stories across the 3Is—Innovation, Implementation, and Impact. It seeks to recognize and award Digital Transformation Champions who have leveraged the AA framework to drive meaningful change for institutions and customers.

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Competition Scope

Participants are invited to submit comprehensive case studies that showcase:

  • Innovation: Creative and impactful uses of the AA ecosystem in their product offerings.
  • Implementation: Demonstrating how AA has been integrated into front-end customer journeys and back-end processes.
  • Impact: Quantifiable benefits, such as customer adoption rates, scale-up potential, and tangible outcomes for the organization and end users.

Submission Requirements

  • Case Study: Detailed overview of your AA deployment, use case, customer segments, and impact. The case study should also lay out quantitative metrics on the penetration of customers using AAs, the number of business units integrated, the impact on business, workflows where AA has been implemented, and scale-up projections for the next year.
  • Demonstrations: Front-end and back-end demos showing how AA has been integrated.
  • Customer Testimonials: Recorded videos or written feedback from customers, agents, or other stakeholders highlighting the customer experience and outcomes.

Key Timelines

  • Submission of Case Study and Team Composition: 23rd Sept 2024 to 15th Oct 2024
    Submissions can be made by individual FIU organizations or collaborative teams of AA, FIUs, and TSPs.
  • Final Work Product Submission: Until 27th October 2024
    Submit the demonstrations and customer testimonials that are complementary to the case study. Revisions to the case study are acceptable.
  • Selection of Winning Entries: 5th November 2024
    The winning entries will be selected by an independent expert panel, whose names will be released before.
  • Final Showcase & Award Announcements: 19th November 2024 at SamvAAd 2024

Awards and Recognition 

All the nomination entries will be evaluated on the strength and impact of their digital implementations built on the AA Framework. The evaluation criteria will be finalized by judges and circulated to the participants at an appropriate time. We propose to offer a “Digital Transformation via AA Champion” award to the best entry that scores high on impact, innovation, and implementation via AA.  

Further,  the judges will finalize three entries for the Special awards under the following three categories:

  1. Financial Inclusion recognizes applications that expand financial access for underserved communities, such as low-income rural communities, blue-collar workers, micro-entrepreneurs, street vendors, micro-finance, agriculture, and women.

  2. Non-Credit Use Cases Award, celebrating innovative applications of AA data in deposits, insurance, investments, pensions, nomination management

  3. Risk Management Award, honoring teams with strong fraud detection, early warning systems layered on AA data, identification of mule accounts, insider trading, monitoring of counterparty risks, and defaulter collection strategies across the financial sector. 

In addition to the Digital Transformation Champion Award, these special awards will seek to recognize the impactful contributions of the AA champions in diverse customer segments and products.

Benefits for Participants and Winners

  • Recognition: Winners will be felicitated during SamvAAd 2024 and receive public acknowledgment via social media and email campaigns.
  • Visibility: Showcase your solution to a diverse audience, including policymakers, regulators, and over 600 companies across financial institutions and technology service providers.
  • Media Coverage: Coverage in prominent industry publications to enhance your solution’s visibility.

We strongly encourage you to participate and share your innovations with the broader ecosystem. If you have any questions, feel free to contact us at samvaad2024@sahamati.org.in. The template for submitting your entries can be downloaded here!

We look forward to your submissions and to celebrating your contributions to the growth and success of the Account Aggregator ecosystem at SamvAAd 2024!