The client is a non-deposit taking NBFC (Non-Banking Financial Company) providing working capital loans and business loans to SMEs across India, giving access to capital in a completely online, quick process with minimum documents and no collateral needed.

The client wanted to build an open banking account aggregator platform to disburse the loans in a faster way with ReBIT Account Aggregator open banking specification. The ‘Account Aggregator Ecosystem’ APIs describe the requirements for enabling real-time financial information aggregation functionality as set forth in the Reserve Bank of India (RBI) Master Direction – Non-Banking Financial Company – Account Aggregator (Reserve Bank).

Key Challenges

  • Business team wanted faster processing of statement validation using open API ecosystem enabled by Reserve Bank of India called Account Aggregator
  • The current system involves manual validation process, which is error prone
  • The client did not have adequate technical capabilities to develop Account Aggregator (AA) platform
  • Platform will also require an end-to-end integration between provider, user, and AA platform for it to work seamlessly

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The Solution

How Infosys Banking API Platform Helped

  • Leveraging Infosys Banking API Platform to provide a solution for the given problem. Developed Account Aggregator (AA) ecosystem in compliance with the ReBIT specification with the following capabilities:
    • Account discovery and linking
    • Account data flow
    • Notification and monitoring
    • Consent management
  • Account Aggregator application with client standard user experience, provided with a responsive web design including customer profile management
  • The solution is cloud-enabled and deployed in Amazon Kubernetes cluster with ready-to-use Helm Charts and easy configurations
  • Apart from the APIs for AA ecosystem, Infosys Banking API Platform additionally provides developer portal, which includes API Sandbox, API Swagger Documentation, and QuickStart Guides
  • Complete solution has microservices-based architecture using open-source stack developed using Agile methodology

Infosys’ Approach

Security was an important aspect and one of the major concerns for client in developing the AA ecosystem. Infosys Banking API Platform provides a comprehensive security layer by implementing MTLS, digital signature, and encryption along with role-based access controller through OIDC provider.



50% faster time to market — including customization of UI and testing effort by Infosys Banking API Platform

100% compliance to open banking technical specification

Self-service third-party onboarding

Smooth and hassle-free user experience to end custome

Highly scalable, lightweight, and loosely coupled architecture

Easy future enhancements and quick deployment cycle