Study Circle on Account Aggregators

About the Study Circle format: CashlessConsumer runs a series of deep-dive sessions on the technology powering payments, emerging policy frameworks and implementations and real-world practice of digital payments. A study circle is a collaborative classroom to learn in detail about a particular topic, in this case, Account Aggregators, more specifically the technology aspects and a deep dive into nuts and bolts of how this technology works for a consumer and how the privacy / security aspects of data sharing.

Unlike a presentation/seminar, while there will be anchors presenting, the idea is to learn collaboratively like a classroom setup. We will share reading materials with registered participants. You are encouraged to read it prior to joining the session. During the session, raise your hands ask question and share inputs.

Account Aggregators: Account Aggregators will be entities that enable structured financial data sharing from Financial Information Providers to Financial Information Users, while maintaining a log of consent given (called “consent artifacts”), and providing the ability to revoke and manage consent. Any financial sector regulated entity currently offering these financial products and services is classified as “Financial Information Provider” (FIP). Any entity that is registered and regulated by any Financial Sector Regulator (across banking, mutual fund / equity investments, insurance, pensions — RBI, SEBI, IRDA, PFRDA) is also classified as “Financial Information User” (FIU).

Although the concept is being extended to health, we will restrict the focus to financial sector implementation of Account Aggregators.

Reading materials:

• Basic Explainer
• NBFC-AA Technical Specifications
• Sample AA API Specfication

Who should participate:

• Consumers of all financial services to know about data sharing framework and how it impacts them.
• Practitioners from fintech and digital payments, including engineers and product managers.
• Banking & Financial Sector Industry professionals looking to learn more about account aggregators.
• Anyone interested in knowing more about technology behind the account aggregator - consent manager / data sharing framework.

Takeaways:

1. As a consumer, you get have informed choice to decide

• Whether to use account aggregator framework for data sharing in your financial lives
• How to differentiate various service offerings by the ecosystem and chosing the right service provider for your needs
• Safegaurds you need to take care while using the ecosystem

2. As a technology developer, you will have a deeper understanding of the ecosystem to

• develop using the ecosystem for security / privacy
• understand design choices of the framework to leverage the APIs for your customers
• Get a slightly deeper view on privacy, security aspects of the framework from a technical standpoint.

3. As a BFSI professional / investor / journalist, you will understand

• slightly better insight into the technical workings of the system to independently appraise technical strengths / weakness

If you have any questions, please use the comments section to ask them to the facilitators

About the speakers:

1. Rohit Kilam is the Head of Technology (Digital) for Aditya Birla Finance Ltd. Rohit has been at the forefront in shaping the framwork on Account Aggregators.
2. Vinay Sathyanarayana is the Director of Engineering at Perfios Software Solutions Pvt. Ltd.

Participation: Zoom link will be shared with registered participants. Or, you can watch the livestream on this page.
Registered participants can leave comments/questions on the Comments section for the speaker to address during the session.

About CashlessConsumer: CashlessConsumer is a consumer collective working on digital payments to increase awareness, understand technology, produce/consume data, represent consumers in policy of digital payments ecosystem to voice consumer perspectives, concerns with a goal of moving towards a fair cashless society. Read more on the website and the blog. Follow @cashlessconsumer on Mastodon and Telegram.