About FCC

Fintech Convergence Council (FCC) is formed under Internet and Mobile Association of India(IAMAI).
IAMAI is a young & vibrant association with ambitions of representing the entire gamut of digital businesses in India. It was established in 2004 by the leading online publishers, but in the last 15 years has come to effectively address the challenges facing the digital & online industry including mobile content & services, online publishing, mobile advertising, online advertising, ecommerce & mobile & digital payments among others. Fifteen years after its establishment, the association is still the only professional industry body representing the online & mobile VAS industry in India. The association is registered under the Societies Act & is a recognized charitable institution in Maharashtra. With a membership of 300 plus Indian & MNC companies, offices in Delhi, Mumbai, Bengaluru & Kolkata, the association is well placed to work towards charting growth path for the digital industry in India.

Fintech has grown in leaps & bounds over the last few years but the impetus for the next phase of growth will emerge from the convergence between the multiple industry players. Erstwhile Fintech Committee at IAMAI & now the Fintech Convergence Council (FCC) has been formed in the year 2018 for the purposes of representing the various regulated financial service providers & fintech companies. FCC which is formed under IAMAI would be focusing on resolving various industry level & sector specific issues. FCC aims at being a platform for all the stakeholders in the financial services (BFSI) ecosystem to deliberate, integrate & lead the development of the fintech sector.

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.

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Vision

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.

MISSION

To identify and build opportunities for collaboration, convergence between the various players in the financial services domain and to grow and drive market expansion.

Activities

Advocacy

  • To deliberate on regulatory, legal and other developments (draft notes, laws, regulations, etc.)
  • Submit recommendations and feedback on policy papers released for public comments
  • Proactively offer opinions to lawmakers, and be an active participant in law making process
  • Engage with Government and Regulators for favorable policy environment for fintech sector
  • To collaborate with different associations to seek synergies

Convergence and Collaboration

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

Development

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

Governance

FCC has a distinct character and rules of business as may be required for it to be operationally independent even while being a part of Internet and Mobile Association of India (“IAMAI”). FCC is governed by an Executive Council comprising 8 members representing the fintech industry and a defacto position held by the Chairman of IAMAI, the names of which are mentioned below:

  • Naveen Surya, Chairman, Fintech Convergence Council & Chairman Emeritus, PCI
  • Yashish Dahiya, Vice Chairman, Fintech Convergence Council & Co - Founder and CEO PolicyBazaar
  • Rajat Gandhi, Founder & CEO, Faircent
  • Alok Mittal, Co - Founder & CEO, Indifi Technologies
  • Srinivas Jain, Executive Director & Chief Marketing Officer, SBI Funds Management
  • Mukesh Kalra, Founder & CEO, ET Money
  • Subho Ray, President, IAMAI