Pragati the Sahamati Newsletter March 2025

24 Apr 2025

March’25 Newsletter

Pragati – The Sahamati Newsletter

CEO’s Desk

As we close out FY25, we reflect on a year of meaningful progress and bold new beginnings for the Account Aggregator ecosystem. Here’s a quick look at three key developments that will set the tone for what lies ahead.

This new financial year begins with the launch of the Sahamati Membership Program for FY26 . This initiative marks a pivotal shift from coordination to co-ownership, designed to strengthen trust, enable structured engagement, and encourage innovation across the ecosystem. The detailed membership documents are on our website.

To power the next wave of innovation in the AA ecosystem, we have a new engine for research and innovation, Sahamati Labs. Envisioned as a collaborative R&D hub, Sahamati Labs brings together stakeholders from the ecosystem to co-create solutions in AI, privacy-enhancing technologies, and global standards for data sharing. More on Sahamati Labs here.

The first initiative under Sahamati Labs is Aikya (ऐक्य) , meaning “oneness” in Sanskrit, a collaborative AI program focused on enhancing financial decision-making, fraud detection, and risk evaluation. Learn more about Aikya, on our website.

To match our ambition with scale, we also launched Velocity 5x —our strategic call to action for the ecosystem members. With this initiative, we aim to help the ecosystem grow monthly AA-facilitated lending from ₹10,000 crores to ₹50,000 crores.

Our focus remains unwavering: to turn momentum into movement, deepen partnerships, drive meaningful scale, and harness the full power of the AA framework to serve India’s financial landscape.

Key Stats

Ecosystem Stats

179+ M — Cumulative Consent Request Fulfilled
140+ M — Cumulative Accounts Linked on AAs
689 — REs Live on AA
177 — FIPs Live on AA
631 — FIUs Live on AA
89 — FIPs available on four or more AAs

Sahamati Services

REs-470 — Sahamati Certification Framework
984 — Prod Entries in the AA Registry
78598 — Cumulative Grievances handled
41970 — Cumulative Grievances resolved
323 — Dashboards disseminated
12 — Fair Use Templates Published

AA Impact Story

A leading Indian life insurer enhanced its customer journey and improved operations after adopting the Account Aggregator (AA) framework.

~50% of their customers now choose AA-led journeys for data sharing, resulting in an 8% improvement in policy issuance.

The AA framework also enabled a 30% reduction in the average time to share financial information for underwriting — improving turnaround time significantly.

This story highlights how AA is enabling a more responsive, data-driven insurance future.

Learn more about AAs >>

Sahamati Monthly Recap:

“In 2024, 30% of loan applicants who hadn’t used AAs said they recognised the concept when described to them—up from 12% in 2023.” Insight from our national survey conducted with CGAP. Explore the full survey findings here .

Shalini Gupta, Chief Policy & Advocacy Officer at Sahamati, participated in a hackathon co-hosted by Aditya Birla Finance Limited (ABFL) the Reserve Bank Innovation Hub (RBIH). The event brought together innovators who showcased cutting-edge solutions in alternate data-based credit scoring, intelligent workflows, business rule engines (BREs), and psychometric assessments for underwriting.

In the FIP Council meeting held in March 2025, participants discussed the implementation of Fair Use guidelines at the cohort level. It was agreed that FIUs would be the primary implementers of Fair Use Guidelines, with AAs serving as the first line of checks. FIPs, as custodians of customer data, can be secondary checkers to flag deviations from Fair Use Templates. It was suggested that interventions follow a due process be raised through councils, and be aligned at the ecosystem level to ensure consistency, the right course of action, and maintain customer trust. Learn More>>

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