Moneyone Products
Moneyone FinPro FIU
An FIU Server compliant with RBI’s Account Aggregator Technical Standards
Moneyone FinShare FIP
API gateway for FIPs
FinSec AA Solutions Pvt Ltd, 100% owned by FinTech Products and Solutions India Pvt Ltd, is India’s first NBFC-AA licensee of RBI. It has a brand Onemoney that offers Account Aggregations (AA) solutions through an Android mobile app and a responsive web application. These Apps enable us to perform a one-time registration, link financial accounts in banks, asset management, insurance and stockbroking companies, and pension funds for real-time consent-based data sharing in a secure, regulatory/legally compliant manner. Onemoney is a consent management platform and helps customers manage their consents throughout the consent lifecycle.
Fintech Products and Solutions India Pvt Ltd has a brand Moneyone with two products. FinPro for FIUs (Financial Information Users) and FinShare for FIPs (Financial Information Providers), enable Data Governance, support the AA Ecosystem, are independently offered by FinTech. They enable organizations to offer to their customer’s Security and Privacy for their data. They help organizations quickly onboard onto the AA Ecosystem, take advantage of the benefits of AA, as FIUs and FIPs.
FinShare and FinPro provide a comprehensive offering, including Data Access to the licensed AAs, Data Governance focused on AA regulation by RBI and the proposed Personal Data Protection Bill, and Data Analytics for the derivation of insights from bank statements.
An FIU Server compliant with RBI’s Account Aggregator Technical Standards
Product Overview of Moneyone FinPro FIU
It is a Data Governance and Value Management platform for Financial Information Users (FIUs). It includes
- Enables any FIU to quickly onboard to the AA ecosystem supporting integration with all licensed AAs.
- Ready implementation of AA APIs as specified by ReBIT (Reserve Bank of India IT)
- Sends and receives notifications to and from AA, fetch encrypted financial information from AA and decrypt the financial information received from AA.
- Set of APIs that can be integrated with any FIU application.
- Enables Purge or Archive of the data after the expiry of the data storage period.
- Compliances under the AA regulation and those necessary under the proposed Data Protection Bill by the government.
- FinPro provides an API which gives month wise summations of transaction count and amount of different types of transactions in a deposit account (CASA) which are derived from transaction narrations and transaction mode.
Components of Moneyone FinPro FIU
01Has a set of APIs, including a ready implementation of the AA APIs as specified by ReBIT to support integration with all licensed AAs in the ecosystem in a dynamic and trusted manner
02Allows the setup of consent parameters for a particular product mapped to a specific purpose and displays the list and status of all Consent requests, notifications and data requests for monitoring.
Features of Moneyone FinPro FIU Server
The FIU server and data governance features include the following:
- Place the Consent request.
- Store the Consent artefact.
- Place encrypted data request (Onetime or Periodic).
- Send/Receive Notifications to and from the account aggregator.
- Fetch encrypted financial information from the account aggregator.
- Decrypt financial information.
- Provide SDK with widgets of account aggregator education screen, account aggregator list, view balance and transactions.
- Provides data APIs for bank account statement, GST statements etc. as per ReBIT schema in JSON format for end FIU applications consumption.
Features of Moneyone FinPro FIU Admin Portal
- Account aggregator Management.
- Central Registry Management.
- User Management.
- Lists Consent requests with status.
- List data requests with status
- FI Fetch notifications.
- MIS reports.
- Web Hooks to send notification for consent and data flow events
- Source Authentication
Benefits of Moneyone FinPro FIU
- Ready availability of AA APIs as specified by ReBIT.
- Interoperable and supports integration with any account aggregator, so no need for financial information users (FIUs) to integrate independently with other AAs.
- Provides an SDK with widgets that can be white-labeled and embedded with FIU applications.
- Enables encryption/decryption mechanism as per Diffie Hellman Key Exchange standards.
- Automatically places Consent requests and data requests on behalf of FIUs.
- Stores the consent artefact with the latest consent status and fetched data.
Interesting and Innovative?
Write to us info@onemoney.in and we are looking forward to partnering with you.
Moneyone FinShare is an API gateway for FIPs.
Product Overview of Moneyone FinShare FIP
- Quickly onboard the FIP with all features and APIs as specified by ReBIT. It supports integration with all licensed AAs.
- Maintains the latest status of linked accounts and consents.
- Connects with internal APIs of FIPs to fetch financial data, converts them to the standard schema format as specified by ReBIT
- It encrypts data and shares the data with an AA based on an explicit digitally signed consent artefact.
Components of Moneyone FinShare FIP
01Ready implementation of FIP APIs as specified by ReBIT
02List of all linked accounts along with its status, Consent requests along with their status and data requests for monitoring.
Features of FinShare FIP Gateway
- Supports integration with any authorized account aggregator.
- Integrates with internal APIs of financial information provider’s (FIP’s) core systems.
- Converts fetched data into standard format as per schema defined by ReBIT.
- Encrypts the financial information data.
- Shares data with account aggregator based on explicit digitally signed consent artefact.
- Maintains latest status of linked accounts
- Maintains latest status of Consents
Features of FinShare FIP Admin Portal
- Account aggregator Management
- User Management.
- Central Registry Management
- Lists discovered accounts.
- Lists linked accounts with status.
- Lists Consent artefact with status
- Lists Data requests
Benefits of FinShare FIP Admin Portal
- The ready availability of FIP APIs as specified by ReBIT
- It is interoperable and supports integration with any AA, so FIPs don’t need to integrate independently with other AAs.
- Enabled with transformation mechanism to transform data fetched from any FIPs into the standard format specified by ReBIT for each financial information type
- Enabled with encryption mechanism as per Diffie Hellman Key exchange standards for sharing data.
- Data-in-transit security, governing the data fetch by Onemoney mobile application, is strictly in accordance with the security specifications laid by RBI within the AA framework. It involves the following:
- API keys – for the Onemoney service to authenticate and authorise the Onemoney mobile application
- Data Signature – for non-repudiation and data integrity checks while information is being exchanged in API requests and responses between the Onemoney service and the Onemoney mobile application
- Data encryption – key material for every data fetch is generated within the Onemoney mobile application, using the Diffie Hellman Key Exchange Mechanism, in accordance with the specifications of the AA framework. Decryption of data is done on the device, using keys generated and stored securely within the Onemoney mobile application. Decryption of data is not done on the Onemoney back-end servers
- Data-at-rest security, governing the storage of data within the app’s private storage and while data is downloaded onto the device’s general
- purpose storage area, is enforced.
- AES256 encryption is employed, for both data-at-rest and data-in-transit.
Interesting and Innovative?
Click here to understand the onboarding procedure
Write to us info@onemoney.in and we are looking forward to partnering with you.
