The Digital Lenders Association of India (DLAI) has officially rebranded itself as the Unified Fintech Forum (UFF), marking a strategic shift to encompass the broader fintech ecosystem beyond its original focus on digital lending. This change reflects the organisation’s ambition to secure Self-Regulatory Organisation (SRO) status from the Reserve Bank of India (RBI) and to address the evolving needs of India’s rapidly expanding fintech sector. The rebranding comes as part of efforts to align with regulatory expectations and to foster collaboration across diverse fintech domains, including payments, wealth tech, insurtech, and embedded finance.
The newly renamed Unified Fintech Forum has elected Manish Lunia, co-founder of FlexiLoans, as its president, and Upasana Taku, co-founder of MobiKwik, as vice-president. These leadership appointments underscore the forum’s commitment to bridging gaps between traditional financial services and innovative fintech solutions. With a membership base exceeding 120 entities, the UFF now represents a wide array of stakeholders, including regulated and unregulated fintech firms, non-banking financial companies (NBFCs), payment gateways, and technology providers. This expanded representation aims to create a unified voice for the industry, advocating for policies that balance innovation with consumer protection and regulatory compliance.
The rebranding follows feedback from the RBI, which has emphasised the need for stronger client protection mechanisms and product suitability standards in the fintech space. While the Fintech Association for Consumer Empowerment (FACE) secured SRO status in 2024, the UFF’s application remains under review. The organisation’s leadership has expressed confidence that the expanded scope and inclusive membership structure will strengthen its case for regulatory recognition. The RBI’s push for greater accountability in digital lending and consumer-facing fintech services has prompted the UFF to prioritise transparency, responsible innovation, and adherence to evolving guidelines.
Originally established in 2016 as a not-for-profit entity focused on digital lending, the UFF’s transformation reflects the sector’s rapid growth and diversification. The forum now aims to address last-mile consumer protection concerns by integrating business-to-consumer (B2C) fintech players into its membership. This shift responds to regulatory demands for greater oversight of customer interactions, particularly in areas such as data privacy, grievance redressal, and ethical lending practices. The UFF’s expanded mandate also includes advocating for standardised practices across the fintech ecosystem, ensuring that technological advancements align with national financial inclusion goals.
The Unified Fintech Forum’s rebranding arrives at a critical juncture for India’s fintech industry, which has seen exponential growth driven by digital payments, neo-banking, and embedded finance solutions. The organisation plans to collaborate closely with regulators, policymakers, and industry stakeholders to refine frameworks for digital lending, data security, and consumer rights. By fostering dialogue and best practices, the UFF aims to position itself as a central authority for fintech innovation while ensuring that growth remains inclusive and sustainable.
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