Privacy-Preserving Fraud Intelligence ... - Kiran Gopinath, Sahamati & Rene Kolga, Google Cloud

Privacy-Preserving Fraud Intelligence for India's Open Finance Ecosystem Using TEEs - Kiran Gopinath, Sahamati Foundation & Rene Kolga, Google Cloud Loan fraud in India is a $4 billion annual problem. Simultaneously, it is very hard to detect and prevent this when each lender sees only their slice of a borrower's activity. India's Open Finance framework, called Account Aggregator, establishes the foundation for coordinated fraud prevention at scale. However, lenders cannot pool raw borrower data to combat it. Aikya, built on a Trusted Execution Environment, provides the answer by running cross-institutional velocity checks inside a secure enclave where no participant sees another's data, turning a privacy constraint into a structural guarantee. Sahamati Foundation governs India's Open Finance framework enabling individuals and businesses to share real-time financial data across financial institutions and fintechs with their consent. With over 1,000 participating entities and tens of millions of active data flows, it is one of the largest Open Finance deployments in the world.