Introduction to Account Aggregator (AA)
An Account Aggregator (AA) is a digital platform that enables regulated entities (REs) to securely access and consolidate a user’s financial data from multiple Financial Information Providers (FIPs) such as banks, investment platforms, insurance companies, and more.
The AA system empowers users to give explicit consent for sharing their data. This consolidated data enables a more comprehensive view of the user's financial health and allows regulated financial institutions to make more informed decisions.
What is Sahamati?
Sahamati is a non-profit organization that plays a pivotal role in promoting and supporting the adoption of the Account Aggregator (AA) Framework in India. It acts as a central industry alliance that helps onboard participants, educates stakeholders, and facilitates the data-sharing ecosystem.
Key Features of Account Aggregators
- Consolidated View: Aggregates data from multiple financial sources to present a unified view of a user’s financial position.
- Secure Data Sharing: Enables users to securely share their financial data with FIUs, with user consent.
- Strong Security & Privacy Controls: Ensures end-to-end encryption and strict compliance with data protection norms.
Role of Technology Service Providers (TSPs)
Technology Service Providers (TSPs) are essential enablers in the AA ecosystem. They provide the technological backbone required for Financial Information Users (FIUs) and Financial Information Providers (FIPs) to interact seamlessly with AAs.
Key Responsibilities of TSPs for FIUs
Module Development and Integration
TSPs develop FIU modules in line with technical specifications published by ReBIT (Reserve Bank Information Technology). These modules enable FIUs to securely request and consume data from FIPs through Account Aggregators.
Sandbox Testing
Before production deployment, TSPs assist FIUs in testing their integrations within certified AA sandboxes to ensure the solution is robust, compliant, and secure.
Certification Facilitation
TSPs coordinate with empaneled certifiers to help FIUs obtain necessary certifications. They manage assessments and ensure the implementation adheres to required regulatory and technical standards.
Data Analytics Support
Some TSPs also provide additional tools and modules that allow FIUs to analyze the received financial data, aiding in credit assessment, loan underwriting, and financial risk profiling.
Registration and Membership of TSPs
To be recognized as a TSP within the Sahamati framework, an organization must:
- Develop and test FIU and/or FIP modules using AA sandbox environments.
- Demonstrate compliance with security and functional requirements.
Note: While Sahamati provides registration and visibility for TSPs, it does not endorse any specific provider.
Learn More
For a detailed overview of the role and guidelines for TSPs in the Account Aggregator ecosystem, visit: