The agency said that between 80 and 90 million Indians currently use AA service.
The AA ecosystem is expected to reach 25-30% penetration by the end of the current fiscal year, according to Sahamati market estimates.
“Growth metrics across the board have been encouraging. Use cases have expanded with FIUs (Financial Information Users) using AA for simplified tasks such as customer onboarding and for specialized tasks such as fraud control,” said BG Mahesh, CEO, Sahamati.
Consent applications rose to 63.7 million in FY24 from 5.5 million the previous year.
The usage has expanded from the basic use case of loan underwriting to personal finance management, portfolio management, early warning signal assessment and monitoring of loan accounts, loan collections, issuance of insurance policies, opening of demat accounts and investment advisory.
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