In Part 1 of our blog, we talked about the importance of alternate data and the role it plays in making lending easier for the large segment of the untapped population thereby leading to financial inclusion. Now, let’s look at the possible hurdles in achieving our goals of financial inclusion. Challenges in gathering and using […]
AA Use Case
There are several use cases that can be built over the Account Aggregator public infrastructure.
The availability of data in a machine-readable format with user's consent adds possibilities to build several products that use AA which wasn't feasible earlier due to friction in acquiring the data.
Empowering Alternate Data Collection for Digital Lending with Account Aggregator Framework – Introduction
In this 2-part blog, we are going to explore some of the use cases in digital lending which can be empowered by RBI’s Account Aggregator Framework specifically in the context of alternate data gathering. But before I walk through the use case, it’s important to understand the larger goal of financial inclusion. Today, millions of […]
Unified Nominations Register (UNR) with Account Aggregator Framework
Retail investors in India have various options to make investments to get better returns, such as equities, mutual funds, pension funds, and fixed deposits. Each of these assets provides an option to nominate a beneficiary who will receive the proceeds in the event of an investor’s unfortunate demise. However, the nomination process is neither uniform […]
OCEN & Account Aggregators will change digital lending in India
On 22nd July at the Global Fintech Festival 2020, Nandan Nilekani announced the launch of the Open Credit Enablement Network (OCEN), which would mark the beginning of a new age for financial inclusion in India. Working in tandem with the Account Aggregator framework, this extension of our public digital infrastructure will help to democratise credit […]
AA Masterclass: A New Era for Underwriting and Lending
A masterclass by Rajesh Kumar (MD & CEO of Transunion CIBIL) on how the AA framework will usher in a new age for lending in India. He gives us his view of where exactly Account Aggregators will play a critical role in a reimagined lending value chain, right from ‘Sourcing, onboarding and underwriting’ to ‘Monitoring […]
AA Masterclass: Personal Finance Management
A masterclass by Amit Bhor (Co-founder – Walnut) on one of the most popular use cases for Account Aggregators – building applications for Personal Finance Management (PFM). He talks about Walnut’s journey of being pioneers of PFM in India including: What is personal finance? Stages in personal finance The three kinds of tools you can […]
AA Hackathon Masterclass: Account Aggregator UI/UX and Design Masterclass
As human beings, we are accustomed to the mental model of purchasing goods and services in exchange for money. With the advent of the internet, we enter into a new type of trade called the ‘data trade’, where we access services in return for our data. The Account Aggregator regulatory framework exemplifies this new mental […]
AA Masterclass: Insurance and Account Aggregators
A Masterclass by Anand Datta, (VP, Nexus Venture Partners) on how companies can leverage the new AA framework to build new and innovative insurance products. We start off with a dive into the history of insurance. He then provides a holistic view of insurance as a product and a sector including the developments in this […]