India’s expanding digital public infrastructure (DPI), interoperable payment systems and technology-driven financial services have strengthened its position as a major global fintech hub, with the seventh edition of the Global Fintech Fest (GFF) focusing on emerging technologies shaping the future of finance.
The four-day GFF 2026 is being held in Mumbai from September 8 to 11, bringing together stakeholders from across the global financial and technology ecosystem for discussions on innovation, collaboration and inclusive digital finance.
Since its inception in 2020, the event has grown into a major global fintech gathering, providing a platform for India to showcase its digital financial architecture and engage with developed economies, emerging markets and countries of the Global South.
The Payments Council of India (PCI), National Payments Corporation of India (NPCI) and Fintech Convergence Council (FCC) are the principal organisers of GFF. The event is also supported by the Ministry of Electronics and Information Technology, Department of Financial Services under the Ministry of Finance, NEST Division of the Ministry of External Affairs, NITI Aayog, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), International Financial Services Centres Authority (IFSCA) and Pension Fund Regulatory and Development Authority (PFRDA).
Focus on Agentic AI, tokenisation and quantum technology
The theme of GFF 2026 is “Potential to Impact: Agentic AI | Tokenisation | Quantum: Trusted, Connected, Global Systems for Inclusive Finance.”
The agenda centres on three technologies that are expected to influence the evolution of financial systems.
Agentic AI can enable financial systems to analyse information, make decisions and execute tasks in real time within defined governance frameworks. Its potential applications include fraud prevention, regulatory monitoring, workflow automation and personalised financial services.
Tokenisation involves representing assets as programmable digital units, potentially enabling fractional ownership, faster settlement and greater interoperability across financial markets and payment systems.
Quantum technologies could bring advances in computing and security, including quantum-resistant cryptography and sophisticated risk optimisation, with implications for the long-term resilience of financial infrastructure.
India’s fintech transformation
India’s fintech ecosystem has been built on investments in Digital India and DPI, combining digital identity, interoperable payments, connectivity and open digital networks.
The Jan Dhan-Aadhaar-Mobile (JAM) framework has provided a foundation for financial inclusion. As of August 26, 2026, 59.15 crore Jan Dhan accounts had been opened, while Aadhaar enrolments had crossed 144 crore by March 2026.
UPI has emerged as a key component of India’s digital payments infrastructure. Transactions on the platform reached 2,450.9 crore in August 2026. UPI is operational in 11 countries and accounts for nearly half of global real-time digital transaction volumes, according to the information provided for the event.
In July 2026 alone, UPI processed 2,365.8 crore transactions worth Rs 29.88 lakh crore, with 741 banks live on the platform. Transaction volumes have increased nearly 12,000-fold since 2016-17.
Digital identity and documentation systems have also supported the expansion of digital financial services. Aadhaar e-KYC had processed more than 2,458 crore transactions as of June 29, 2026, while DigiLocker had more than 73.53 crore registered users and had issued 936.03 crore documents.
Direct Benefit Transfer (DBT) has further expanded the use of digital financial infrastructure for welfare payments by transferring government benefits directly into beneficiaries’ bank accounts. Cumulative DBT transfers were stated to have reached Rs 53.26 lakh crore as of September 2026.
The Open Network for Digital Commerce (ONDC), meanwhile, has extended India’s interoperable digital infrastructure beyond payments. By June 2026, it had more than 20 crore buyers and 5 lakh sellers across over 1,000 cities, with its financial services category creating additional opportunities for digital financial products.
Regulatory framework and consumer protection
The expansion of fintech has been accompanied by efforts to strengthen regulation, cybersecurity and consumer protection.
The RBI’s Framework for Self-Regulatory Organisation(s) in the FinTech Sector, introduced in May 2024, seeks to promote ethical conduct, market integrity and dispute resolution within the sector.
Its Master Directions on Digital Payment Security Controls, issued in 2021, prescribe minimum security standards for various digital payment channels, including internet and mobile banking. NPCI has also deployed AI and machine learning-based systems to monitor fraud in UPI transactions.
The Digital Personal Data Protection Act, 2023, and the Digital Personal Data Protection Rules, 2025, provide a framework for protecting individuals’ personal data.
The RBI’s Regulatory Sandbox framework, introduced in August 2019, allows innovative financial products and services to be tested in a controlled regulatory environment.
Measures aimed at combating fraud in digital lending include a Digital Lending Apps directory and cybercrime-reporting mechanisms through the National Cybercrime Reporting Portal and helpline 1930. The SACHET portal provides a public platform for complaints relating to illegal deposit collection.
The road ahead
India’s fintech ecosystem is increasingly being shaped by scale, interoperability, innovation and institutional trust. Emerging technologies such as artificial intelligence, tokenisation, blockchain and quantum computing could create new opportunities across payments, lending, capital markets and other financial services.
At the same time, cybersecurity, data protection and consumer safeguards will remain critical as digital finance expands.
The next phase of fintech development is expected to focus on technological self-reliance, digital sovereignty and responsible innovation, while strengthening access to affordable and inclusive financial services.
India can also deepen its engagement with emerging economies and the Global South by sharing its experience in building large-scale digital public infrastructure. Such partnerships could further its role in developing secure, inclusive and people-centric digital financial systems.
