Fime has been empaneled as an official certifier by India’s DigiSahamati Foundation (Sahamati) to support the organic and sustainable growth of the country’s open banking account aggregator ecosystem. Fime’s expertise and cloud-based open API testing tool, TrustAPI+ are enabling innovation and reducing time to market, while ensuring the highest stand of quality of services. The collaboration is working to enable India learn from some of the open banking challenges seen in Europe.
Fime’s consultants and testing experts are supporting Sahamati’s Certification Working Group to standardize and augment customer onboarding, data governance and security for the account aggregator network. Account aggregators facilitate the sanctioned sharing of financial information in real-time between Financial Information Providers (FIPs) and Financial Information Users (FIUs). Fime is now working with all parties to test their APIs and integrations, and undergo certification in line with the Sahamati Certification Framework.
Our goal is to help drive the adoption of the account aggregator specifications and facilitate the organic growth of the ecosystem.
Sahamati is helping to facilitate the consented sharing of financial information to enable use cases such as lending and wealth management. This is helping to drive forward the Make In India initiative by enabling the digital transformation of India’s financial services.
Mr. B.G. MaheshCo-founder of Sahamati
Data currently exists in silos and can’t be used effectively by individuals or businesses. This initiative is bringing everyone together to enable data sharing, fostering innovation and bringing more valuable products and services for consumers and businesses.
Certification is a key enabler, protecting the integrity of the space, the APIs it relies on and ensuring the right parties are involved.
Mr. Angaj BhandariIndia and South Asia Managing Director at Fime
As with all products launched on the Fime Test Factory platform, TrustAPI+ is accessed through a secure cloud portal, allowing multiple users to collaborate on projects even when located across different regions.
Contact us to learn more about how Fime's experts can support your account aggregator API and integrations projects.
Sign up to our upcoming webinar for more on Fime’s work with Sahamati.
Fime enables its clients to create and launch trusted and secure solutions with consulting and testing services in payments, smart mobility, biometrics, authentication and open banking. It offers global cross-industry perspective, local insight, and unique heritage in testing and certification. Fime’s consultants provide transformative business expertise, partnering with organizations worldwide to define, design, deliver and test their products and services. With 400+ experts around the world, Fime works strategically to help its clients turn ideas into reality, swiftly take products to market, and achieve competitive advantage. Working together, Fime turns powerful innovations into the future of trusted transactions.