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Latest events and updates about Account Aggregator ecosystem
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114.75 Million
Consent requests fulfilled
99.19 Million Accounts linked on AA
649 FIs Actively engaged in AA adoption
562 REs Live on AA
164 FIPs Live on AA
503 FIUs
Live on AA
88 FIPs
Available on 4 or more AAs
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402 FIs
Sahamati Certification Framework 17 TSPs Intermediate Certified
193 Signatories
AA Participation Terms
1,792 UAT Entries in AA Registry
801 Prod
Entries in AA Registry
45,927 (cumulative)
Grievances handled
17,617+ (cumulative)
Grievances resolved |
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As we step into the final quarter of this year, it is with great excitement that I announce the highly anticipated second edition of SamvAAd 2024, taking place on 19th November (Tuesday) in Mumbai, the financial capital of India. After the overwhelming success of last year’s event—where we brought together over 1,100 attendees, including regulators, policymakers, cross-sector financial institutions, technology providers, and Account Aggregators—SamvAAd 2024 promises to be even bigger. This year, we are going global with many exciting new themes and activities to spark collaboration and innovation.
With great enthusiasm, I wish to announce that SamvAAd 2024 has secured the support of three remarkable organizations as our key sponsors., Finarkein Analytics has come on board as our Titanium Partner, Finfactor Technologies as our Platinum Partner and Dezerv joins us as a Silver Partner. Their partnership highlights the significance of the growing momentum around the transformative potential of the AA framework. We are excited to collaborate with these esteemed organisations as we work towards making this year’s edition bigger, bolder, and more impactful for everyone involved.
In the lead-up to SamvAAd 2024, we officially launched the Sahamati BuildAAthon 2024 on 4th October 2024. This hackathon invites participants to create groundbreaking projects that harness the power of the Account Aggregator framework. With a series of insightful masterclasses and panel discussions led by esteemed industry experts, participants will have the opportunity to gain invaluable guidance throughout their hackathon journey. If you’re passionate about shaping the future of finance, I encourage you to register before the deadline on 27th October 2024 at https://sahamati-buildaathon-2024.devfolio.co/
In partnership with Finarkein Analytics, our Titanium Partners, we have launched the 3I Use Case Competition in the run-up to SamvAAd. This competition is dedicated to recognizing Digital Transformation Champions who have leveraged the AA framework to drive meaningful change for institutions and customers. We also want to felicitate and acknowledge companies that have exemplary use of the ecosystem across financial inclusion, non-credit use cases, and risk mitigation solutions. We welcome innovative entries from ecosystem members—reach out to us at samvaad2024@sahamati.org.in for more details on how you can participate.
As we gear up for SamvAAd 2024, we are optimistic about the path ahead. The event represents a crucial milestone not just for Sahamati but for the entire Account Aggregator ecosystem. Together, we will explore new frontiers, uncover fresh opportunities, and tackle pressing challenges as we continue to push the boundaries of what’s possible with the AA framework. SamvAAd 2024 will serve as a platform to share ideas, drive innovation, and forge partnerships that will shape the future of open finance.
We look forward to your active participation and invaluable support in making this grand second edition a resounding success. Stay tuned for more updates, and together, let’s build a more connected, inclusive, and forward-thinking financial ecosystem.
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Sahamati participates in the DPI Innovation Immersion Event in Bengaluru
The three-day Carnegie GTS event in Bengaluru brought together a distinguished global delegation to explore the transformative potential of Digital Public Infrastructure (DPI). Esteemed delegates engaged in discussions centered on the growing adoption of DPIs, addressing cross-sectoral applications such as payments, data sharing, and credentials, as well as sector-specific impacts in areas like health and education. The event also highlighted emerging innovations in DPIs, including the integration of open networks and AI, underscoring their role in shaping the future of global infrastructure and fostering inclusive growth.
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Sahamati explains the AA Framework in a recent interview with Express Computer
In an interview with Express Computer, Mr. BG Mahesh, CEO of Sahamati, delves into the transformative impact of the Account Aggregator (AA) framework in advancing data-driven financial inclusion. He emphasizes how the customer-centric AA framework, which facilitates consent-based data sharing, empowers individuals to access and use their data to secure better financial services. The conversation also highlights the crucial role of Sahamati and the broader AA ecosystem in ensuring the technology behind this consent-driven model remains secure and user-friendly, particularly for those less familiar with technology, fostering a financially sustainable and inclusive future. To read the full article.
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New Client Secret Rotation Policy was Introduced following feedback from the ecosystem
Sahamati has introduced a new Client Secret Rotation Policy in response to recommendations from the ecosystem. There was a need for periodic rotation of the Client Secret Token used for authenticating Token Services to strengthen security and mitigate risks related to token misuse or compromise. Many participants have not updated their Client Secrets since their initial onboarding with the Central Registry (CR). To address this, Sahamati is launching a Client Secret Rotation feature, allowing participants to securely and efficiently rotate their tokens. To ensure you are compliant with the new policy.
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Formation of the Technology Advisory Committee (TAC) for the AA Ecosystem
Sahamati has established a Technology Advisory Committee (TAC) to oversee and review its technological proposals for the Account Aggregator ecosystem. This committee will play a key role in providing guidance on scalable designs, implementation strategies, and ensuring compatibility with regulatory standards. The inaugural meeting of the TAC took place on 6th September 2024, where discussions emphasized the importance of developing tech solutions that support a fully robust AA ecosystem. The TAC will help ensure that Sahamati’s technology infrastructure is built on a solid foundation, aligning with industry best practices and global standards. To know more about the TAC members.
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AA Feedback Survey: Evaluating the Adoption of the Fair Use Framework
As part of our continued efforts to promote the adoption of the Fair Use system, we recently conducted a survey to assess how widely Fair Use practices are being embraced by Account Aggregators (AAs). The feedback was positive, showing that AAs have already begun implementing the recommended upper limits for various use cases. Many have also started integrating the Fair Use Template Library for both new and existing users, making these standards a central aspect of their products. While some are still in the process of rolling them out, the overall response has been extremely positive, with all participating AAs and ecosystem participants supporting the use of Fair Use Templates.
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