India’s digital finance ecosystem has moved beyond the challenge of access and scale, with the next phase requiring greater emphasis on trust, resilience, customer protection and accountability as technology becomes deeply embedded in everyday financial activity, Reserve Bank of India Deputy Governor Shirish Chandra Murmu said.Speaking at the Global Fintech Fest, Murmu said technology had transformed how financial commitments are created and executed, but could not replace the trust that underpins banking, payments, lending and digital identity.“Trust is the bedrock of finance,” he said, adding that as finance becomes more digital, instantaneous and interconnected, the importance of trust only increases.The shift has also made the underlying financial ecosystem more complex. A digital payment that takes seconds can involve multiple institutions, platforms, networks and security protocols, while a loan originated through a mobile application can bring together lenders, lending service providers, data providers, credit information companies and algorithms.For regulators, Murmu said, the challenge is therefore not only to preserve a simple customer experience but also to ensure accountability across the wider ecosystem.