Established in 2017 as a fintech committee, the Fintech Convergence Council was later incorporated into a council under the aegis of the Internet and Mobile Association of India. Currently, the council has 150 members representing various segments of the fintech, banking, financial services, and technology space. The council works towards the penetration of financial services with the aim of financial inclusion and moving towards a digitally empowered country. It creates opportunities for collaboration and convergence among various players in the financial services domain. Committees under FCC are Digital Lending, Wealthtech, Insurtech, DFSP Regtech, Agrifintech and Bureaus.
FCC works closely with the Ministry & regulators like Reserve Bank of India (RBI), Ministry of Finance, Insurance Regulatory & Development Authority, Securities & Exchange Board of India & any similar government departments, bodies or Institution to grow the penetration of financial services.
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:
Chair, Fintech Convergance Council & Chair, Lending Committee, Lendingkart
Co-Chair, Fintech Convergance Council & Chair, DPSF Committee, Jupiter
Chair, DFSP Committee, Fi Money
Chair, Insurance Committee, Riskcovry
Co-Chair, Insurance Committee, Paytm Committee
Chair, Investment Committee, Angel One
Co-Chair, Investment Committee, Phonepe Wealth Broking
Co-Chair, Lending Committee, Phonepe Credit Services
Chair, P2P Committee, NDX P2P
Co-Chair, P2P Committee, Faircent
Chair, Regtech Committee, Signzy
Co-Chair, Regtech Committee, HyperVerge