The Fastest Path to Account Aggregator Framework Readiness
Our wizard-driven solution simplifies the application integration process and speeds up onboarding by as much as 75% vs. traditional approaches
Sahamati is a non-profit industry alliance for India’s Account Aggregator (AA) ecosystem. Its mission is to promote adoption, encourage innovation, and ensure compliance with regulatory standards among ecosystem participants to benefit citizens. To join the ecosystem, organizations must follow the ReBIT-prescribed API and functional flow guidelines.
Saksham, from NuSummit Cybersecurity, enables organizations to quickly and reliably test their API implementation for compliance, security, and readiness to join the Account Aggregator framework.
NuSummit Cybersecurity has been empaneled to conduct the certification process for all the Account Aggregator ecosystem entities.
Framework – A Primer
The regulatory body approved a new class of NBFCs in 2016 to act as Account Aggregators whose primary responsibility is facilitating the transfer of users’ financial data with explicit consent. This primarily includes the transfer, but not storing, of data. An Account Aggregator is ‘data-blind’, and data transmitted will be end-to-end protected. Also, an Account Aggregator does not and cannot store any user’s data.
Thus, It helps businesses and individuals collate and share data digitally in a secured and controlled manner, thereby assuring the user’s integrity, confidentiality, and privacy.
Benefits
The fastest way to become compliant and a part of the Account Aggregator ecosystem.
Fully automated test scenarios.
User guide for self-assessment kit and installation instructions to be given as part of the pre-installation manual kit.
Strict adherence to the API request and response JSON structures to ensure interoperability in the ecosystem.
Control checklist to be provided before a certification audit.
Saksham – Self-Service-Based Automatic
API Certification Approach
NuSummit Cybersecurity provides certification after evaluation of the output of the self-assessment check. Once a certificate is issued after the first successful run of the NuSummit Cybersecurity Saksham Toolkit against the FIP, AA, FIU system, it is considered a proof of compliance unless the quarterly reports indicate a significant deviation or non-compliance with the NBFC-AA specifications, as applicable then.
Read our E-guide on how to get onboarded to the Account Aggregator ecosystem.
E-Guide: Swift Onboarding to the Account
Aggregator Ecosystem
We appreciate your interest in Saksham- our fully automated test kit for API capability certification.
We are ready to help you get started. Let us know how to contact you, and we will get in touch.
