Market Research Report: Sahamati

Company Overview

• Name: DigiSahamati Foundation (Sahamati)

• Mission: Empowering Indians with better control and access over their data to create better financial futures through the Account Aggregator (AA) ecosystem.

• Founded: No information is available.

• Founders: No information is available.

• Key People: B.G. Mahesh, CEO of Sahamati.

• Headquarters: No information is available.

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Sahamati is known for fostering the Account Aggregator ecosystem, a consent-based data-sharing framework aimed at revolutionizing data handling and access in India.

Products

Account Aggregator Ecosystem

• Description: A regulated data-sharing framework that allows individuals and businesses to share their financial data with consent, enhancing user control and access to financial services.

• Key Features:

• User-Controlled Data Sharing: Users manage their data sharing and consents.

• Real-Time Data Access: Provides real-time access to the user's financial data.

• Security: Data is encrypted; consent-based transactions ensure enhanced security.

• Interoperability: Works seamlessly across multiple participants including banks and financial institutions.

SahamatiNet Sandbox

• Description: A technology infrastructure designed to support the AA ecosystem.

• Key Features:

• Network Observability Services

• Billing & Reconciliation Services

• Single Integration Plug & Play: Provides easy access to the broader ecosystem.

Recent Developments

• Hackathon: Launched the Sahamati BuildAAthon 2024 to promote innovation in the open finance space by using the AA ecosystem.

• Partnerships and Ecosystem Growth:

• The AA ecosystem now includes over 600 entities, showing a mature and evolving landscape.

• Consents Milestone: Celebrated the milestone of over 100 million consent requests on the AA framework, marking a significant achievement in democratizing data sharing.

• Global Leadership: Positioned as the fastest-growing open finance ecosystem globally with a reported 1059% growth in FY 2023-24.

• Events:

• Hosted the third Account Aggregator Ecosystem Workshop in Bengaluru.

• Organizing SamvAAd 2024, gathering international policymakers and industry leaders to discuss the AA ecosystem and open finance trends.

• Press Release:

• Accounts Aggregator framework crossed 100 million successful consents, showing significant adoption and indicating further growth in India's open finance sector.

Conclusion

Sahamati is at the forefront of transforming India's financial data-sharing landscape through its support of the Account Aggregator ecosystem. Key recent milestones suggest a continued trajectory of rapid growth and adoption, with efforts directed at inclusivity and wider acceptance of open finance principles. Despite a lack of detailed company metrics like employee numbers or revenue data, Sahamati's strategic positioning in open finance highlights its importance in shaping the future of financial data management in India.