Banking, Fintech & Financial Services

Banking, financial services, and financial technology form the backbone of modern economic activity, enabling savings, investment, capital formation, entrepreneurship, trade, and financial security. Every major sector of the economy depends on a well-functioning financial system to access capital, manage risk, facilitate transactions, and support growth. From traditional banking and insurance to capital markets, digital payments, lending platforms, and emerging financial technologies, the sector plays a critical role in shaping economic development and improving financial inclusion.

India's financial ecosystem has undergone a remarkable transformation over the past decade, emerging as one of the most dynamic and rapidly evolving financial markets in the world. The country today is home to a banking sector with assets exceeding ₹250 lakh crore, a rapidly expanding insurance industry, one of the world's largest capital markets by number of investors, and a thriving financial technology ecosystem that continues to attract significant domestic and global investment. These developments have strengthened the sector's role as a key enabler of economic growth, entrepreneurship, and wealth creation.

One of the defining features of India's financial transformation has been the success of Digital Public Infrastructure. Initiatives such as Aadhaar, Jan Dhan, UPI, DigiLocker, and the Account Aggregator framework have helped expand access to financial services at an unprecedented scale. More than 55 crore Jan Dhan accounts have been opened, bringing millions of previously unbanked individuals into the formal financial system. UPI has revolutionised digital payments, processing more than 18 billion transactions every month and making India the global leader in real-time digital payments. Today, nearly half of the world's real-time digital payment transactions take place in India, demonstrating the country's growing influence in shaping the future of financial innovation.

The sector is also a significant contributor to employment and economic activity. Banks, insurance companies, non-banking financial institutions, stock exchanges, asset managers, fintech companies, payment providers, and related service providers collectively support millions of jobs across the country. At the same time, access to finance continues to play a vital role in supporting micro, small and medium enterprises, startups, infrastructure projects, housing, agriculture, and industrial development.

Technology is increasingly transforming how financial services are designed, delivered, and regulated. Artificial intelligence, machine learning, digital lending, embedded finance, blockchain applications, cloud computing, cybersecurity solutions, open banking frameworks, and advanced analytics are creating new opportunities to improve efficiency, enhance customer experience, strengthen risk management, and expand access to financial products. India's fintech sector, already among the largest globally, is expected to continue its rapid growth as innovation and digital adoption accelerate.

Alongside these opportunities, important policy considerations continue to emerge across areas such as financial inclusion, digital payments, fintech regulation, cybersecurity, consumer protection, financial literacy, digital lending, capital markets, cross-border payments, digital currencies, responsible innovation, and financial stability. Similar discussions are taking place across major economies as governments seek to balance innovation, resilience, investor confidence, and long-term economic growth.

These developments present a significant opportunity for India. A strong, innovative, and inclusive financial ecosystem can accelerate investment, support entrepreneurship, strengthen economic resilience, and improve financial well-being across society. As India progresses towards becoming a developed economy, the role of banking, financial services, and fintech will become increasingly important in unlocking growth and expanding economic opportunity.

This is where proactive policy engagement becomes essential. The future of finance will be shaped not only by technological innovation and market developments, but also by the policy frameworks that influence adoption, investment, governance, and trust. NextEra Policy works at exactly this intersection, bringing together stakeholders from across the financial ecosystem to help foster informed discussions and contribute to a resilient, inclusive, and future-ready financial sector.

The NextEra Policy Committee on Banking, Financial Services and FinTech is dedicated to advancing informed, forward-looking, and evidence-based discussions on the policies, regulatory frameworks, and innovations shaping the future of finance in India. At its core, the Committee exists to provide a platform where banks, financial institutions, fintech companies, payment service providers, insurers, investors, regulators, researchers, academics, and industry professionals can engage on issues influencing the evolution of the financial ecosystem.

The Committee recognises that finance is no longer confined to traditional banking alone. Digital payments, financial technology, embedded finance, artificial intelligence, digital lending, open banking frameworks, wealth management platforms, insurance technology, and digital public infrastructure are reshaping how individuals and businesses access, manage, and utilise financial services. As innovation continues to accelerate, informed policy engagement becomes essential to ensuring that financial systems remain inclusive, resilient, secure, and capable of supporting long-term economic growth.

India's financial ecosystem is undergoing one of the most significant transformations in the world. The rapid expansion of digital payments, increasing financial inclusion, growing investor participation, rising fintech adoption, and continued innovation across banking and financial services are creating new opportunities for businesses and consumers alike. At the same time, emerging technologies and evolving business models are giving rise to important policy discussions around consumer protection, digital trust, cybersecurity, financial literacy, regulatory innovation, and financial stability. The Committee believes that thoughtful policy frameworks can help unlock these opportunities while maintaining confidence and integrity within the financial system.

While many policy discussions begin only after market developments create challenges or uncertainties, the Committee believes that the most effective policy engagement often starts much earlier. This philosophy lies at the heart of NextEra Policy's approach. The Committee continuously studies financial sector developments across major jurisdictions, examining how governments, regulators, financial institutions, and technology providers are responding to emerging opportunities and policy considerations. By understanding global developments before they become mainstream policy discussions in India, the Committee seeks to identify opportunities, anticipate challenges, and contribute constructively to future policy conversations.

Whether it is digital payments, fintech regulation, banking reforms, financial inclusion, capital markets, digital lending, insurance innovation, financial literacy, cross-border payments, central bank digital currencies, open finance frameworks, cybersecurity, or emerging financial technologies, the Committee seeks to remain ahead of the policy curve rather than merely responding to it. Through policy papers, stakeholder consultations, surveys, roundtables, conferences, research initiatives, and structured engagement with relevant institutions, it strives to bring evidence, practical insights, and diverse stakeholder perspectives into every discussion.

The Committee also seeks to ensure that important developments in banking, financial services, and fintech are accessible to a wider audience. Through publications, thought leadership initiatives, workshops, and stakeholder engagement activities, it works to promote greater awareness and understanding of the opportunities, innovations, and policy developments shaping the future of finance.

As India's financial ecosystem continues to evolve, the Committee remains committed to ensuring that stakeholders are informed, represented, and engaged in the policy discussions shaping the future of banking, financial services, and financial technology. The objective is not merely to respond to change, but to better understand it, prepare for it, and contribute constructively to the frameworks that will support a more inclusive, innovative, and future-ready financial sector.

The NextEra Policy Committee on Banking, Financial Services and FinTech warmly welcomes new members at all times. If you believe in the importance of financial inclusion, responsible innovation, informed policymaking, and collaborative engagement, we would be delighted to have you join us on this journey.

1. What is the NextEra Policy Committee on Banking, Financial Services and FinTech?

The NextEra Policy Committee on Banking, Financial Services and FinTech is a dedicated platform that brings together banks, financial institutions, fintech companies, payment service providers, insurers, investors, researchers, policymakers, academics, and industry professionals to engage on issues shaping the future of finance in India. The Committee works to promote informed policy discussions, develop evidence-based recommendations, and contribute to a more inclusive, innovative, and resilient financial ecosystem.

2. Who can join the Committee?

The Committee welcomes banks, non-banking financial companies (NBFCs), fintech companies, payment service providers, insurance companies, asset management firms, investment firms, stock market participants, financial consultants, researchers, academics, industry associations, policymakers, startups, and professionals with an interest in financial sector policy and innovation.

3. Do I need to work in the financial sector to become a member?

Not at all. The financial ecosystem increasingly intersects with technology, cybersecurity, consumer protection, digital governance, entrepreneurship, and economic development. The Committee welcomes diverse perspectives from professionals, researchers, policymakers, entrepreneurs, consultants, and academics interested in shaping the future of finance.

4. What issues does the Committee focus on?

The Committee focuses on a broad range of issues including banking reforms, financial inclusion, digital payments, fintech innovation, digital lending, capital markets, insurance, wealth management, financial literacy, financial regulation, cybersecurity, cross-border payments, central bank digital currencies, open finance frameworks, and emerging financial technologies.

5. What will I gain as a member of the Committee?

Members gain access to a network of industry leaders, policymakers, regulators, investors, researchers, and financial professionals. They also have opportunities to contribute to policy discussions, participate in consultations and roundtables, engage in research initiatives, attend events, and stay informed about emerging developments affecting the financial sector.

6. How is the Committee different from other organisations working in the financial sector?

NextEra Policy's Committee is distinguished by its emphasis on proactive policy engagement. Rather than focusing solely on current regulatory developments, the Committee continuously studies global financial and fintech trends to identify opportunities, anticipate emerging challenges, and contribute to policy discussions before they become mainstream concerns in India. The objective is not merely to react to change, but to help stakeholders prepare for it.

7. Why is policy engagement important in banking, financial services and fintech?

Policy frameworks influence financial inclusion, investment, innovation, consumer confidence, digital adoption, market stability, and economic growth. Effective policy engagement helps create an environment that encourages innovation while maintaining trust, security, transparency, and financial resilience.

8. Will members have opportunities to engage with policymakers, regulators, and industry experts?

Yes. The Committee facilitates engagement through consultations, policy dialogues, stakeholder roundtables, conferences, working groups, research initiatives, and discussions involving representatives from government, regulators, industry, academia, and the broader financial ecosystem.

9. How much time commitment does membership require?

The Committee is designed to be flexible and accessible. Members may participate in meetings, consultations, events, research projects, and working groups based on their interests and availability. There is no fixed time commitment, allowing members to engage at a level that suits their professional schedules.

10. How do I get started or learn more?

Getting started is simple. Reach out to us and we will guide you through the membership process, answer any questions you may have, and help you identify the best way to get involved.

For details, please write to us at director@nexterapolicy.in or fill in the membership form and a member of our team will get in touch with you shortly.