The Fintech Convergence Council (FCC) was established in 2017 as a dedicated fintech committee under the Internet and Mobile Association of India. Since its inception, the FCC has evolved into a leading council, representing a diverse membership base of over 175 fintech companies across various sectors. The primary mission of the FCC is to advocate for the fintech ecosystem by facilitating meaningful dialogue between policymakers, regulators, and industry stakeholders. The council is committed to promoting the penetration of financial services throughout India. To achieve these objectives, the FCC emphasizes innovation and collaboration, driving regulatory discussions and supporting national goals and regulatory frameworks.
To navigate the complexities of the fintech landscape, the FCC has formed several specialized committees. These include Digital Lending, Wealthtech, Insurtech, Digital Financial Service Providers (DFSP), Regtech, Agrifintech, and Bureaus. Each committee is dedicated to driving initiatives that share best practices, conduct industry-specific discussions, and curate knowledge sessions. Additionally, the FCC actively engages with various ministries and government departments at both the central and state levels, as well as key regulatory bodies, law enforcement agencies, and major Digital Public Infrastructure providers.
Through these collaborative efforts, the council advocates for progressive policies and fosters regular conversations among diverse stakeholders.This approach enables the FCC to play a crucial role in achieving ecosystem growth and creating a technologically advanced financial landscape in India. Members of the FCC benefit from staying updated on the latest industry trends and developments, as well as from regular interactions with regulators. Consumers gain access to innovative financial services, while businesses discover new growth opportunities through fintech adoption.
As the FCC continues to champion the interests of its members and the broader fintech ecosystem, it remains poised to drive significant advancements in the financial services sector. Through its comprehensive efforts, the FCC takes care of the interests of its members and also plays a key role in contributing to the overarching goal of achieving ecosystem growth and creating a technologically advanced financial landscape in India. By advocating for progressive policies and collaboration among diverse stakeholders, the FCC drives significant advancements in, benefiting both consumers and businesses alike.
To proactively work towards growth of fintech and penetration of financial services to support our national goal of financial inclusion, moving towards a digitally empowered country.
To identify and build opportunities for collaboration, convergence between the various players in the financial services domain and to grow and drive market expansion.
To identify the opportunities for collaboration and convergence between the larger Financial Services Institutions (Across Banking, Payments, Insurance, Investment) with its eco-system and Fintech companies
To proactively work towards growth of fintech and penetration of financial services to support our national goal of financial inclusion, moving towards a digitally empowered country
FCC is governed by an Executive Council comprising 12 members, the names of which are mentioned below:
Harshvardhan Lunia
Chair, Fintech Convergance Council & Chair, Lending Committee, Lendingkart
Jitendra Gupta
Co-Chair, Fintech Convergance Council & Chair, DPSF Committee, Jupiter
Sujith Narayanan
Chair, DFSP Committee, Fi Money
Chiranth Patil
Chair, Insurance Committee, Riskcovry
Pranshu Diwan
Co-Chair, Insurance Committee, Paytm Committee
Prabhakar Tiwari
Chair, Investment Committee, Angel One
Ujjwal Jain
Co-Chair, Investment Committee, Phonepe Wealth Broking
Hemant Gala
Co-Chair, Lending Committee, Phonepe Credit Services
Achal Mittal
Chair, P2P Committee, NDX P2P
Rajat Gandhi
Co-Chair, P2P Committee, Faircent
Ankit Ratan
Chair, Regtech Committee, Signzy
Jay Dembani
Co-Chair, Regtech Committee, HyperVerge