Fime Accredited to Boost Growth of India’s Open Banking Ecosystem

The innovation enabler Fime has been accredited by India’s DigiSahamati Foundation (Sahamati), a collective of Account Aggregator ecosystem, to boost the organic and sustainable growth of the country’s open banking account aggregator ecosystem.

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Fime helps customers to develop and launch their solutions by providing them with consulting and testing services, including cloud-based API test automation and certification body. Currently, it’s consultants and testing experts are supporting Sahamati’s Certification Working Group to standardize and enhance 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).

Currently, Fime is 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,” said Mr. B.G. Mahesh, co-founder of Sahamati. “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.”