Standardising financial account aggregation
summary
India builds a regulated account-aggregation layer with six account aggregators (four live, two in-principle), mandatory FIP–AA connectivity, and ReBIT/Samathi‑aligned open APIs; data is JSON, digitally signed at source, sent end‑to‑end encrypted with forward secrecy, and handled by data‑blind intermediaries using pseudonymous, federated identity. The market adds certification, a central registry for discoverability, SLAs and dispute workflows, and has standardized about 20 financial information types; first banks are slated to go live June 2021.
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chapters (6)
- 0:00Start
- 0:35Standardizing Financial Account Aggregation
- 3:55The Consent Layer of the India Stack
- 6:49How Do Standards Impact each of these Players
- 14:59Federated Identity
- 20:41Market Standards
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