Fintech Convergence Council

What Fintech Convergence Council does

Fintech Convergence Council (FCC) is a Mumbai-based non-profit industry association founded in 2018 that represents over 175 fintech companies operating in India. The organization operates under the Internet and Mobile Association of India (IAMAI) as its parent body and is governed by a six-member Executive Council whose leadership comprises senior executives from member companies including OneCard, MCX India, Protean e-Gov, CRED, SBI Funds, and Utimaco. FCC does not develop or sell proprietary technology products; instead, its core function is ecosystem coordination, policy advocacy, and regulatory engagement on behalf of the Indian fintech sector.

FCC's operations are organized through five specialized committees covering Digital Lending, RegTech, WealthTech, InsurTech, and Credit Bureau, each functioning as a working group for member-driven policy submissions and regulatory representations. The council maintains formal advocacy relationships with India's primary financial regulators including the RBI, SEBI, IRDAI, IBBI, NPCI, IFSCA, and CERSAI, and engages with various central and state government ministries. Its research and publications include reports such as the Fabric of Fintech, State of Fintech Union, and Indonesia Digital Money, alongside whitepapers on digital KYC, lending practices, and emerging fintech segments.

FCC's revenue model is built on annual membership fees paid by fintech companies, banks, insurance firms, credit bureaus, and other financial service providers, with membership automatically conferring IAMAI membership. Members gain access to working groups, committee participation, complimentary conference passes, industry reports, roundtables, and direct regulatory representations. The council's distribution channels include direct membership sales, flagship events such as the Global Fintech Festival and India Digital Summit, and partnerships with NPCI, Payments Council of India (PCI), ONDC, and Sahamati. Member logos span enterprise-scale institutions (Apple, DBS Bank, ICICI Lombard, Paytm, PhonePe, Yes Bank, Equifax, Experian) and high-growth startups (CRED, Razorpay, Groww, Zerodha, Open, Niyo, Tide).

Name

Fintech Convergence Council

Legal name

Fintech Convergence Council

Website

https://fintechcouncil.in

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Fintech Convergence Council is a Mumbai-based non-profit industry association founded in 2018 that represents 175+ Indian fintech companies through five specialized committees, providing policy advocacy, regulatory engagement, and ecosystem coordination under IAMAI.

Ownership category

akta.pro rank

Product category

Industry Association / Trade Body

NAICS

Professional Organizations (81392)

akta.pro primary industry

Technical Committees, Working Groups & Expert Panels (BPADANAB)

akta.pro secondary industries

Financial Crime Compliance (AML/KYC/Sanctions) (BPAEAPAK), Risk, Controls & Governance (GRC) Platforms (FSAFAOAG)

Keywords

• Fintech industry association
• Policy advocacy
• Regulatory engagement
• Digital lending committee
• Industry council

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership Fees: FCC generates revenue through annual membership fees from fintech companies, banks, insurance firms, and other financial service providers. Members receive access to working groups, committees, regulatory representations, conferences, industry reports, roundtables, and networking opportunities.

Pricing tiers

Distribution channels3 records

Marketing channels7 records

Core offering

Fintech Convergence Council operates as a non-profit industry association that represents 175+ fintech companies in India through five specialized committees (Digital Lending, RegTech, WealthTech, InsurTech, Credit Bureau). It offers membership-based access to policy advocacy, regulatory representations to bodies such as RBI, SEBI, IRDAI, IBBI, and NPCI, industry conferences, research reports, and roundtable forums. Its core output is convening, advocacy, and research rather than commercial products or technology.

Product overview

Fintech Convergence Council (FCC) is an industry association and advocacy body for the fintech ecosystem in India, not a product or technology company. It operates through specialized committees (Digital Lending, WealthTech, InsurTech, RegTech, Credit Bureau), organizes events (Global Fintech Festival, India Digital Summit), publishes research reports, and conducts policy advocacy and regulatory representations on behalf of its member companies. It does not offer a commercial product or service platform.

Differentiator

Problem solved

Functional benefit

Products and services

• FCC Membership Program Annual membership program for fintech companies, banks, insurance firms, NBFCs, and credit bureaus, providing access to five specialized committees, regulatory representations to RBI/SEBI/IRDAI/IBBI/NPCI, complimentary conference passes, industry reports, roundtables, and complementary IAMAI membership.
• Global Fintech Festival Annual flagship industry conference held in Mumbai that brings together fintech companies, financial institutions, regulators, and policymakers for networking and ecosystem discussions.
• India Digital Summit Industry summit convened for digital finance discussions, networking, and stakeholder engagement.
• Industry Research Reports Research publications covering the Indian fintech ecosystem, including Fabric of Fintech, State of Fintech Union, event reports, and digital KYC whitepapers, made available to members.

Quantifiable outcome

• Over 175 fintech companies represented
• +3 more outcomes

Named customers24 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• NPCI (National Payments Corporation of India)coreStrategic or Co-development PartnerNPCI collaborates with FCC on various initiatives including Global Fintech Fest, fintech outreach programs, and policy discussions on digital payments, UPI mandate, and UPI autopay regulations.
• Payments Council of India (PCI)coreStrategic or Co-development PartnerFCC was formerly the Fintech Committee at IAMAI alongside Payments Council. Joint initiatives include organizing Global Fintech Fest and NPCI-FCC-PCI collaboration programs.
• Internet and Mobile Association of India (IAMAI)coreStrategic or Co-development PartnerFCC was established as a dedicated fintech committee under IAMAI. Membership to FCC entitles members to IAMAI membership as well.
• ONDC (Open Network for Digital Commerce)coreTechnology or IntegrationFCC conducts webinars on ONDC opportunities, including sessions on financial services integration, gift cards, and AgriTech opportunities for fintech.
• RBI (Reserve Bank of India)coreStrategic or Co-development PartnerFCC advocates for fintech industry by representing to RBI on digital lending guidelines, KYC norms, FLDG arrangements, co-lending, and regulatory framework discussions.
• SEBI (Securities and Exchange Board of India)coreStrategic or Co-development PartnerFCC engages with SEBI on topics including execution-only platforms for mutual funds, two-factor authentication, nomination for mutual fund unit holders, and T+0 settlement.
• IRDAI (Insurance Regulatory and Development Authority of India)coreStrategic or Co-development PartnerFCC advocates for InsurTech industry interests including Bima Vahak guidelines, insurance literacy, and recommendations for IRDAI regulations.
• CERSAIminorStrategic or Co-development PartnerFCC submitted industry feedback on improving quality of KYC data in C-KYCR to CERSAI.
• IBBI (Insolvency and Bankruptcy Board of India)minorStrategic or Co-development PartnerFCC submitted information for unsecured loans to IBBI.
• Sahamati (Account Aggregator Ecosystem)coreTechnology or IntegrationFCC conducts workshops with Sahamati on Account Aggregator as a growth accelerator for the lending industry.
• IFSCA (International Financial Services Centres Authority)minorStrategic or Co-development PartnerFCC conducts roundtables on IFSCA Payment Services Regulations consultation paper.
• Government of India - Various MinistriescoreStrategic or Co-development PartnerFCC engages with various ministries and government departments at central and state levels for favorable policy environment for fintech sector.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Regional players

• UK Finance: UK Finance is the UK trade association for the banking and financial services sector, providing regulatory engagement, policy advocacy, and industry research. Its member-funded, committee-driven model with PRA/FCA engagement is structurally comparable to FCC's RBI/SEBI engagement.
• Singapore Fintech Association (SFA): SFA is the industry body for Singapore's fintech ecosystem, organizing the Singapore Fintech Festival and engaging MAS on policy. Comparable in mission (fintech-specific advocacy, events, committees) and operates as a peer for Indian fintechs expanding regionally.
• The Fintech Association of Japan: Japan's fintech industry association engages FSA and METI on digital finance policy and convenes fintech ecosystem participants. While smaller in scale, its remit and operating model (industry-body advocacy on behalf of fintech members) closely tracks FCC's role in India.
• Australian Fintech Association (AFTA): AFTA is a fintech-specific trade association in Australia with a similar remit: connecting fintechs, advocating with regulators, and supporting industry development. Functionally analogous to FCC as a focused fintech voice in its domestic market.
• Innovate Finance: Innovate Finance is the UK fintech industry association that engages FCA, HMT and other regulators on fintech policy. Its member-funded, advocacy-driven model with thematic committees (lending, payments, regtech) closely mirrors FCC's structure.

Broad incumbents

• Nasscom: Nasscom is India's largest technology industry trade body covering IT services, BPM, and product companies including fintechs. It engages with MeitY and other ministries on policy that overlaps with FCC's remit (AI, data, software exports), making it a comparable (but broader) industry-association peer.
• Confederation of Indian Industry (CII): CII is a top-tier industry chamber with national committees covering BFSI and fintech-relevant topics (digital economy, financial inclusion). Its scale and government access make it a parallel generalist body whose financial-sector work overlaps with FCC's advocacy.
• Federation of Indian Chambers of Commerce & Industry (FICCI): FICCI is a major all-industry chamber with a dedicated Financial Services committee that advocates with RBI, SEBI, and the Ministry of Finance. While much broader in scope, it competes with FCC for mindshare and access on BFSI policy.

Direct peers

• Payments Council of India (PCI): PCI is the IAMAI-affiliated industry body for the payments segment, sharing a near-identical membership, revenue model (dues + events), and regulatory engagement pattern with FCC. FCC and PCI jointly operate the Global Fintech Festival, making PCI the closest organizational analogue to FCC within India.
• Internet and Mobile Association of India (IAMAI): IAMAI is FCC's parent body and the broader internet/digital industry association in India; FCC was originally a committee of IAMAI and FCC membership confers IAMAI membership. IAMAI represents the upstream ecosystem (internet, digital advertising, content) in which FCC's fintech members operate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/FCCUpdates
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/fintechconvergencecouncil

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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