Protean eGov Technologies, formerly NSDL e-Governance Infrastructure, has received the RBI’s approval to for its wholly-owned subsidiary to operate as an account aggregator, the company said in a release.
Account aggregators help individuals securely and digitally access and share information from one financial institution they have an account with, to another regulated financial entity.
Protean supports open digital building blocks for use-cases across sectors such as mobility, healthcare, agriculture and education, while extending its service stack to provide a comprehensive set of APIs to enable end-to-end digital on-boarding and data verification capabilities.
“Protean has been at the forefront of creating Digital Public Infrastructure for India and we are keen to contribute to the Account Aggregator ecosystem in the coming years,” said MD and CEO Suresh Sethi.
The company has collaborated with the government over the last 25 years to create digital public infrastructure and develop innovative citizen centric e-governance solutions, including modernising the direct tax infrastructure, providing a tax identity to citizens and corporates though issuance of PAN cards, strengthening the old-age social security infrastructure through the National Pension System (NPS) and Atal Pension Yojna, and enabling Aadhaar-based identity authentication and e-Sign services.