After RBI issued the SRO-FT framework in May 2024, the Fintech Association for Consumer Empowerment (FACE) was the first entity to be recognised as a SRO-FT in August that year.
The SRO Framework has been put together by RBI for establishing and enforcing regulatory standards, promoting ethical conduct, ensuring market integrity, resolving disputes, and fostering transparency and accountability among its members. UFF has 118 members, including NBFCs, lending service providers, technology service providers, credit bureaus and account aggregators. It also has nine associate partners.
According to the forum’s website, it is serving as a non-profit advocacy organisation dedicated to fostering collaboration, innovation, and responsible growth within the fintech sector. The forum plays a crucial role in shaping the regulatory environment, promoting best practices, and driving financial inclusion across the nation. UFF creates a collaborative ecosystem where ideas can be exchanged, challenges can be addressed collectively, and the transformative potential of fintech can be harnessed for the benefit of all stakeholders.
FACE is a not-for-profit Section 8 public company, registered and headquartered in Mumbai. The association, which has 378 members and partners, brings together fintechs and techfins to deliver and enable digital financial services.
Published on September 10, 2026