The financial landscape is evolving at an unprecedented pace, driven by innovations at the intersection of information technology and financial services. Launched in 2016 by the Reserve Bank of India, the open banking framework stands out as a game-changer. Account aggregators (“AAs”) act as financial intermediaries that empower customers to securely transfer and access data across various financial institutions. In essence, the framework promotes democratisation of data and shifts the power of accessibility and usage from data holders to data users.

Join our experts Ankita Hariramani, Soumitra Ponkshe and Ruchika Jha as they deep dive into the industry developments, the current trends as well as the legal challenges in the open banking ecosystem.

The webinar will include in-depth discussions on:

• Insights into the latest developments and unique use cases of AAs.
• Practical challenges faced by the players in the implementation of the consent artefact.
• Role and implications of partnering with a technology service provider in the open banking ecosystem.
• Discussing challenges in the ecosystem such as standard contractual agreements, restrictions on who can be an FIU, data use by FIUs, etc.
• Examining how other laws including Guidelines on Digital Lending, 2022 and the Digital Personal Data Protection Act, 2023 align with the open banking framework.
• Insights into how the ecosystem is evolving into a steadfast digital public infrastructure.

You can check out the discussion on the link below: