Setup in 2017 as a fintech committee, Fintech Convergence Council was later converted into an independent council with an independent governing board, with over 70 members. The FCC represents various players in the fintech, banking, financial services, and technology space. The FCC 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 Lending, Wealth Management, Insurance, Neo-Banking and Regtech.
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 8 members, the names of which are mentioned below: