The humble p(AA)ssbook: Re-imagining trust, courtesy the Business Correspondents network

24 May 2023
  • Atyati, in collaboration with Sahamati has brought to life an innovative use case of the Account Aggregator framework¬†
  • Passbook printing by leveraging AA, is expected to reduce costs to Banks, increase income to Business Correspondents, and further the financial access to users in remote area

Interoperable passbook printing is an important use case that can be facilitated through the Account Aggregator Framework.

Currently, passbook printing services at Business Correspondent (BC) agents are limited to a few banks, and only limited to the bank statements for which the sponsor banks.

By leveraging the consent-based approach of the Account Aggregator Framework, customers can provide permission to third-party BC agents to initiate verified bank statement printing requests at the BC point.

This shall alleviate the need for consumers to visit a branch and stand in long queues for simple, basic banking service of getting their passbook updates. This opens up the possibility of making passbook printing widely available at all BC agents across the country, improving convenience for customers, increasing footfall and income for BC agents, and reducing costs for banks.

At SamvAAd 2023, Atyati along with one of the Bank Mitra’s showcased the demo of the use case to the audience. The session was highly intriguing and engaging.

Watch the session below: Strategic Showcase: The humble pAAssbook Re-imagining trust, courtesy the BC network

Insights from Mr. Prakash Prabhu, CEO, Atyati and his team