CryptoDB
Supreeth Varadarajan
Publications and invited talks
Year
Venue
Title
2025
RWC
Deploying MPC in Open Finance: Challenges and Opportunities
Abstract
In this talk, we will describe how we use Multiparty Computation (MPC) to bridge a significant gap in the Account Aggregator (AA) framework in India. Briefly, AA is a regulated Open Finance framework in India that enables users to authorize licensed entities to view their financial information, in order to receive financial services. The AA ecosystem already has tens of millions of users, but suffers a gap in trust: financial data once revealed for one purpose (eg. applying for a loan) may be duplicated and reused by third parties for unauthorized purposes. We present a solution wherein user data is instead secret shared amongst a consortium of independent non-colluding parties, so that they may reveal only explicitly consented functions upon it via MPC. Our solution is designed to be a drop-in replacement—i.e. fully compatible with existing AA standards so that it can be used out of the box—and is currently being deployed by leading financial institutions and digital public infrastructure bodies.
The talk will establish what is to our knowledge a new use case for MPC, and explore the technical challenges we faced in designing such a system to be compatible with existing "MPC-unfriendly" standards.
Coauthors
- Nidhish Bhimrajka (1)
- Yashvanth Kondi (1)
- Daniel Noble (1)
- Supreeth Varadarajan (1)