About Us

The Future of Finance Initiative (FFI) is housed within Dvara Research, and works on emerging issues in policy and regulation for consumer protection in India given the sweeping changes that are reshaping retail financial services in India – including those driven by IndiaStack, Payments Banks, mobile usage and the growing P2P market. Our vision is for every individual to have universal access to suitable financial services using a range of channels that enable them to transact securely and confidently.

The FFI’s work identifies customer-level and system-level risks from the rising digitisation of payments, credit, investments and insurance, particularly those relating to data protection & privacy, financial risk & unfair terms and competition & pricing. Our mandate is to undertake and commission research around these themes, understand the gaps and risks in policy and recommend regulatory responses. Dissemination and advocacy of our findings will be a key part of the Initiative’s longer term agenda.

Our April 2019 Conference on Regulating Data-Driven Finance unpacked these themes in more depth. Resources and primers detailing this research are available at the conference website here.


Disintermediation of Financial Services

Proliferation of entities disintermediating financial services and interacting with users of retail finance

Public Infrastructure for Digital Finance

Large scale investment in public infrastructure i.e. Aadhaar and India Stack, to enable digital financial services in the country

Consumer Data and Advanced Analytics

Increased use of consumer’s personal data and advanced analytics in the course of provision of financial services

Meet our People