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Saafe, operated by Dashboard Account Aggregation Services Pvt. Ltd., is an RBI-licensed Account Aggregator headquartered in Mumbai, Maharashtra. From the very beginning, Saafe was set up with the sole purpose of becoming an Account Aggregator. In its early years before licensing, the company focused on building the core platform, ensuring compliance with RBI guidelines, and working on pilot integrations with financial institutions. This article explores how Saafe AA works, the range of services it offers, and the benefits it brings to both users and financial institutions.
| Aspect | Saafe Account Aggregator Overview |
|---|---|
| Parent Organization | Operated by Dashboard Account Aggregation Services Pvt. Ltd, headquartered in Mumbai, Maharashtra. |
| Incorporation & License | Incorporated in June 2016 it received its NBFC-AA license from RBI on 5 October 2021. |
| Core Services | Consent-based financial data sharing across banks, NBFCs, insurers, and investment platforms under the RBI’s AA framework. |
| Target Users | Banks, NBFCs, fintechs, insurers, investment platforms, and individual consumers. |
| Differentiator | Set up from the very beginning with the sole purpose of becoming an Account Aggregator; focused early on compliance and pilot integrations. |
| Use Cases | Loan processing, income verification, personal finance management, and wealth managers |
| Market Position | Positioned as a purpose-built AA player with a reliability-first approach, steadily building integrations with FIPs. |
An Account Aggregator is a framework introduced by the Reserve Bank of India (RBI). It allows users to share their financial data digitally and securely, with consent. Instead of uploading documents or statements, users can grant access through a simple and secure process. If you want to learn more Account Aggregator we have made a comprehensive guide.
These services are designed to reduce paperwork, cut waiting times, and give people greater control over their financial data.
Saafe AA follows a consent-based process that is simple for users and secure for financial institutions. The main steps are:
Saafe is used by banks, NBFCs, insurers like ICICI Prudential Life Insurance and Shriram Life Insurance, and fintechs to enable faster, paperless financial services. Built as a purpose-driven Account Aggregator, it provides secure, consent-based data sharing that helps institutions simplify credit, lending, and wealth management processes. Some of the key use cases of Saafe include:
By delivering verified financial data instantly, Saafe reduces paperwork, speeds up loan decisions, and allows fintechs to build smoother onboarding journeys. It also empowers users with full transparency and control over their data consents, making financial interactions simpler, safer, and more efficient.
| Factor | Saafe | OneMoney | CAMSFinServ | NADL (NeSL) |
|---|---|---|---|---|
| Network Coverage | Headquartered in Mumbai they have 48 AAs live with them | Headquartered in Hyderabad with the highest number of FIPs live: 88. | Part of MF registrar CAMS, headquartered in Chennai with 61 FIPs live. | Government-backed via NeSL, headquartered in Mumbai with 60 FIPs live. |
| Data Handling | Provides speed and ratability focused AA services to Businesses and end user (via Saafe app) | Provides encrypted real-time data with APIs and SDKs for decision insights. | Primarily compliance-focused, handling financial data with high security and oversight. | Acts as a statutory repository of verified financial data with government oversight. |
| Role & Flexibility | Businesses tools designed for lenders and wealth managers, | Helps NBFCs with credit risk assessment using multiple data points. | Natural fit for traditional institutions like banks, insurers, and asset managers. | Utility role with high trust but less flexibility for custom solutions. |
| Differentiators | Agile private-sector player emphasizes simplicity, transparency, and compliance without additional complexity. | First AA in India and with the highest number of FIPs onboarded: 88. | Trusted financial record-keeper; compliance-first with decades of credibility. | Government credibility ensures high adoption among institutions and statutory players. |
At present, Saafe has not publicly shared a detailed roadmap about its future plans. Unlike some larger Account Aggregators that have announced specific partnerships or ecosystem expansion goals, Saafe has kept its focus primarily on providing core AA services under the RBI framework.
Given this, it is reasonable to expect that its future will align with the broader Account Aggregator ecosystem in India. As more banks, insurers, pension funds, and investment platforms join the framework, Saafe will likely expand its coverage and improve its platform to stay compliant and user-friendly.
For now, Saafe’s direction remains tied to the overall growth of the AA network, and any concrete details on its upcoming initiatives will depend on future announcements by the company.
Saafe is an RBI-licensed Account Aggregator operated by Dashboard Account Aggregation Services Pvt. Ltd. It helps users share their financial data securely and only with consent.
Saafe received its NBFC-AA licence from the Reserve Bank of India on 5 October 2021.
Saafe focuses only on Account Aggregator services. It allows individuals and businesses to link their financial accounts and share data digitally with banks, insurers, and fintechs.
No. Saafe does not store or read your data. It only acts as a regulated channel to transfer encrypted information between financial institutions with your consent.
Users can access Saafe through its app or web portal, where they can link accounts, approve or revoke consents, and monitor their data-sharing history.
Yes. SMEs can use Saafe to share financial records and transaction data with lenders. This helps in accessing loans and other financial products more easily.
Saafe is a pure-play AA, created solely for consent-based data sharing. Unlike some peers that also offer analytics or personal finance tools, Saafe stays focused only on being a secure and neutral AA platform.
Saafe is a dedicated Account Aggregator built from the ground up to enable secure, consent-based data sharing. Unlike players with fintech or analytics roots, its single-purpose design ensures neutrality, simplicity, and compliance, making it a trusted partner for institutions and users alike.
As India’s AA ecosystem expands with more banks, insurers, and investment platforms, Saafe is well placed to serve as a transparent and reliable utility. With its focus on user control and regulatory trust, it will continue to play a steady role in driving digital, paperless financial services.