Sri Lanka digital economy – Newswire https://www.newswire.lk Sri Lanka's largest News aggregator Sat, 21 Mar 2026 11:05:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.6 https://www.newswire.lk/wp-content/uploads/2020/05/favicon.png Sri Lanka digital economy – Newswire https://www.newswire.lk 32 32 UnionPay International continues to partner LankaPay Technnovation Awards 2026 as Platinum Sponsor https://www.newswire.lk/business/unionpay-international-continues-to-partner-lankapay-technnovation-awards-2026-as-platinum-sponsor/ Fri, 20 Mar 2026 13:15:39 +0000 https://www.newswire.lk/?p=228146

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(L-R) Dinuka Perera, Deputy CEO - LankaPay; Channa de Silva, CEO - LankaPay; Hu Binghan - Head of South Asia of UnionPay International; Crispin Wijesekera – Country Manager – Sri Lanka and Maldives of UnionPay International; and Mr. Sameera Rowel - Head of Products & Business Development Sri Lanka and Maldives of UnionPay International
(L-R) Dinuka Perera, Deputy CEO – LankaPay; Channa de Silva, CEO – LankaPay; Hu Binghan – Head of South Asia of UnionPay International; Crispin Wijesekera – Country Manager – Sri Lanka and Maldives of UnionPay International; and Mr. Sameera Rowel – Head of Products & Business Development Sri Lanka and Maldives of UnionPay International

UnionPay International has come on board as a Platinum Sponsor for the LankaPay Technnovation Awards 2026, marking its fourth consecutive year of partnership with Sri Lanka’s premier awards platform dedicated to honouring the country’s payment technology innovators.

The eighth edition, LankaPay Technnovation Awards 2026, will be held on 24 March 2026 at Cinnamon Life Colombo, under the patronage of Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, as Chief Guest; and Hon. Eng. Eranga Weeraratne, Deputy Minister of Digital Economy, and Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy, as Guests of Honour. Under the theme “Inclusive FinTech,” this year’s LankaPay Technnovation Awards will bring together key industry stakeholders to celebrate financial institutions, FinTechs, and government agencies driving Sri Lanka’s digital economy.

Welcoming UnionPay on board, Mr. Channa de Silva, CEO of LankaPay, stated, “We are delighted to have UnionPay International continue as a valued partner of the LankaPay Technnovation Awards. Their ongoing support reflects a shared dedication to advancing Sri Lanka’s digital payment ecosystem, promoting innovation, and enhancing financial inclusion. Our long-standing collaboration with UnionPay strengthens our efforts to develop a robust, secure, and inclusive digital financial ecosystem, which paves the way for a resilient digital economy and underscores our joint commitment to recognizing and inspiring the frontrunners of purpose driven innovation within the country’s digital finance landscape”.

Expressing his views on this partnership, Mr. Cai Huiming, Regional General Manager of South Asia of UnionPay International, stated, “We are proud to continue our partnership with LankaPay as a Platinum Sponsor of the Technnovation Awards for the fourth consecutive year. This collaboration reflects our shared commitment to advancing innovation, inclusivity, and excellence in Sri Lanka’s digital payment ecosystem. The Awards provide an important platform to recognize and celebrate the pioneers of inclusive FinTech, and we are honoured to support LankaPay’s efforts in fostering an inclusive digital ecosystem. As we roll out the LankaPay/UnionPay co-badged national card, we have identified significant opportunities to expand RMB based business in collaboration with LankaPay and its issuing member bank’s, enabling more seamless and convenient cross border payment solutions for customers. In this context, the theme of this year’s event – Inclusive FinTech is particularly relevant, as it strongly aligns with our broader objective of enhancing financial connectivity, accessibility, and innovation through our ongoing partnership with LankaPay.”

UnionPay International is a global leader in the payment industry, enabling secure and seamless cross-border transactions for millions of cardholders and merchants worldwide. With card acceptance spanning 183 countries and regions, UnionPay is among the most widely accepted payment brands globally, supporting international commerce and digital payment adoption at scale. UnionPay’s innovative mobile payment solutions, including UnionPay Mobile QuickPass and UnionPay QR code payments, are now accepted in over 100 countries and regions, offering enhanced convenience, security, and flexibility for consumers and businesses in an increasingly digital economy.

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Vision to Reality: A Year of Learning, Leadership and Global Engagement for COYLE https://www.newswire.lk/business/vision-to-reality-a-year-of-learning-leadership-and-global-engagement-for-coyle/ Tue, 10 Mar 2026 11:23:00 +0000 https://www.newswire.lk/?p=226406

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Over the past year, the Chamber of Lankan Entrepreneurs (COYLE) continued its journey of translating ambition into action under the guiding theme “Vision to Reality.” Anchored in the belief that strong entrepreneurs build strong economies, COYLE’s activities throughout the year reflected a clear philosophy: learn, develop, and then expand globally. Through a series of learning platforms, strategic partnerships, diplomatic engagements, and international collaborations, the chamber strengthened its role as a catalyst for entrepreneurial growth in Sri Lanka.

The year began with a strong emphasis on learning and development, ensuring that COYLE members were equipped with the knowledge and skills required to navigate an increasingly complex global business environment. A series of programmes and sessions were organised to address emerging challenges and opportunities facing entrepreneurs today.

Among these initiatives were specialised discussions on Artificial Intelligence and digital transformation, as well as a cybersecurity session designed to help business leaders understand the evolving digital risk landscape and how to safeguard their organisations. Complementing these efforts was a psychology and data session, which explored how behavioural insights and data-driven decision making can enhance leadership, productivity, and organisational performance.

A major highlight of COYLE’s learning agenda was the Harvard Business School program, which provided members with exposure to global leadership thinking and strategic frameworks used by some of the world’s most successful enterprises. By bringing international expertise to Sri Lanka, COYLE reaffirmed its commitment to nurturing entrepreneurs who are capable of competing on a global stage.

Further strengthening this focus on inspiration and leadership was the I Am COYLE Leadership Forum, where entrepreneurs gathered to exchange ideas and insights on business, leadership, and innovation. The forum featured former Australian cricketer, coach, and entrepreneur Jason Gillespie as keynote speaker, whose reflections on resilience, teamwork, and performance resonated strongly with the entrepreneurial community.

COYLE also remained committed to nurturing the next generation of entrepreneurs. Through its Back-to-School initiatives at Lyceum International School and D.S. Senanayake College, members of the chamber engaged directly with students, sharing experiences from their own entrepreneurial journeys and inspiring young minds to think boldly about innovation, leadership, and enterprise.

With a strong foundation in learning and development, COYLE then turned its attention to expanding Sri Lanka’s entrepreneurial connections globally. Throughout the year, the chamber strengthened its engagement with the diplomatic community in Sri Lanka. Meetings with several high commissioners and ambassadors including representatives from India, Spain, Oman, South Africa, Singapore, New Zealand, Bahrain, and Italy, created valuable opportunities to explore trade, investment, and business partnerships.

These relationships were complemented by inbound delegations facilitated by COYLE, including visiting business groups from Taiwan, Switzerland, and Nepal. These interactions enabled Sri Lankan entrepreneurs to exchange ideas with international counterparts and identify new opportunities for collaboration and market access.

COYLE also played a constructive role in national policy dialogue. During the year, the chamber submitted a comprehensive set of proposals to the President of Sri Lanka and the Presidential Secretariat as part of the national budget consultation process. These recommendations aimed to strengthen the entrepreneurial ecosystem, improve the ease of doing business, and contribute to sustainable economic growth.

Strategic partnerships further strengthened COYLE’s global engagement. During the year, the chamber signed Memorandums of Understanding with JETRO (Japan External Trade Organization), AHK Sri Lanka representing German Industry and Commerce, and the Sri Lanka New Zealand Business Chamber. These partnerships aim to expand international collaboration and open new pathways for Sri Lankan entrepreneurs seeking to enter global markets.

Another significant milestone was the launch of the COYLE World Mastercard, introduced in partnership with Sampath Bank and Mastercard, providing members with financial tools designed to support their growing business needs.

The chamber also launched and celebrated the Sri Lanka Corporate Health and Productivity Awards (SLCHPA) in collaboration with JETRO, an initiative that recognises organisations championing employee wellbeing and workplace productivity. This initiative reflects COYLE’s belief that strong businesses are built not only through innovation and growth, but through healthy and empowered workforces.

COYLE continued to foster collaboration within Sri Lanka’s broader entrepreneurial ecosystem through its engagement with the Alliance of Lankan Entrepreneurial Chambers (ALEC). This platform brings together entrepreneurial chambers across the country to promote knowledge sharing, advocacy, and international market access for Sri Lankan businesses.

Reflecting on the year, COYLE Chairman Mr. Manjula Wijesundara emphasised that the chamber’s achievements demonstrate the power of a united entrepreneurial community working towards a shared vision. By focusing first on learning and development, and then expanding its global engagement, COYLE has strengthened its role as a bridge between Sri Lankan enterprise and the international marketplace.

As COYLE moves forward, the relationships built, knowledge shared, and partnerships formed during this year of “Vision to Reality” will continue to guide the chamber’s journey empowering entrepreneurs, expanding opportunities, and shaping a globally connected future for Sri Lankan business.

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BPC Comes on Board as Strategic Partner for LankaPay Technnovation Awards 2026 https://www.newswire.lk/business/bpc-comes-on-board-as-strategic-partner-for-lankapay-technnovation-awards-2026/ Mon, 09 Mar 2026 15:39:17 +0000 https://www.newswire.lk/?p=226298

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(L-R): Dinuka Perera, Deputy CEO - LankaPay; Channa de Silva, CEO - LankaPay; and Subash Chandra Bowse, Country Director of BPC for Sri Lanka, Bangladesh and the Maldives
(L-R): Dinuka Perera, Deputy CEO – LankaPay; Channa de Silva, CEO – LankaPay; and Subash Chandra Bowse, Country Director of BPC for Sri Lanka, Bangladesh and the Maldives

BPC—a global leader in payment solutions has come on board as a Strategic Partner of the LankaPay Technnovation Awards 2026, strengthening collaboration to recognize the trailblazers of payment technology innovation in the country. Scheduled to be held on 24 March 2026 at the Lumina Ballroom, Cinnamon Life Colombo, under the distinguished patronage of Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, as Chief Guest, and Hon. Eng. Eranga Weeraratne, Deputy Minister of Digital Economy, and Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy, as Guests of Honour, the eighth edition of LankaPay Technnovation will celebrate the pioneers of “Inclusive FinTech.”

Introduced in 2017, the LankaPay Technnovation Awards is the first and only national awards platform dedicated to recognizing technology innovations in the financial services sector. Aligned with the theme “Inclusive FinTech,” the LankaPay Technnovation Awards 2026 aims to expand access via digital financial services, enhance efficiency, and enable wider participation in the digital economy, while encouraging collaboration across the financial services and technology sectors.

Welcoming BPC on board, CEO – LankaPay, Mr. Channa de Silva, said, “We are pleased to welcome BPC as a strategic partner of the LankaPay Technnovation Awards 2026. This partnership is especially meaningful this year as we champion Inclusive FinTech, reinforcing our shared vision of expanding access, driving innovation, and making financial services affordable for all, thereby fostering financial inclusion.”

Speaking of the partnership, Country Director of BPC for Sri Lanka, Bangladesh and the Maldives, Mr. Subash Chandra Bowse, said, “We believe in the philosophy that Innovation is a marathon, not a sprint. We recognize LankaPay as the architect of the modern financial landscape in Sri Lanka, guiding the advancement of Sri Lanka’s digital payment ecosystem through innovation and technology leadership. BPC is proud to join hands as a Strategic Partner for LankaPay Technnovation Awards 2026.We at BPC sponsor the belief that financial technology should be a force that drives inclusion and creates economic welfare for every community, at every income level”.

With over 30 years of expertise, BPC is a global leader in Smart Digital Payment Solutions, Enterprise Level Fraud Prevention, global Marketplace, empowering Banks, Neobanks, FinTechs, Smart Cities and Governments to build user friendly, secure, and inclusive financial ecosystems. Our innovations have placed BPC as a leader in International Rankings.

Operating in over 150+ countries with over 500+ clients, BPC remains committed to driving financial innovation and inclusiveness, enabling businesses and individuals to excel in the evolving digital economy.

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LankaPay Technnovation Awards 2026 to Honour the Pioneers of Inclusive FinTech https://www.newswire.lk/business/lankapay-technnovation-awards-2026-to-honour-the-pioneers-of-inclusive-fintech/ Thu, 26 Feb 2026 13:39:51 +0000 https://www.newswire.lk/?p=224743

LankaPay – Sri Lanka’s National Payment Network, announced the eighth edition of its flagship event, LankaPay Technnovation Awards 2026, atContinue Reading

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Channa de Silva – CEO LankaPay
Channa de Silva – CEO LankaPay

LankaPay – Sri Lanka’s National Payment Network, announced the eighth edition of its flagship event, LankaPay Technnovation Awards 2026, at a press conference held on 25th February 2026 at Hilton Colombo Residencies. Recognised as Sri Lanka’s first and only awards competition dedicated to payment technology innovation, LankaPay Technnovation Awards continue to set the national benchmark for excellence in digital payments.

Honouring the theme “Inclusive FinTech,” the LankaPay Technnovation Awards 2026 recognize Financial institutions, FinTech’s as well as government institutions who have expanded access to financial services across Sri Lanka through innovation, delivering secure and convenient digital payment solutions from urban centres to the most remote communities. Having established itself as the de facto national recognition standard for payment technology innovation, the awards continue to attract strong industry and public engagement, including the online poll for the “Most Popular Digital Payment Solution of the Year 2025”. The grand finale and awards ceremony will be held on 24th March 2026 at Cinnamon Life, under the patronage of Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, as Chief Guest, with Eng. Eranga Weerarathne, Deputy Minister of Digital Economy, attending as Guests of Honour and Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy.
Initiated in 2017, LankaPay Technnovation Awards aims to recognize the pioneers of technology innovations in the financial services sector of the country. The objective is to recognize the banks, non-bank financial institutions, government institutions and FinTechs who have been steadfast to the cause of promoting digital payments, thereby enhancing customer convenience.

Mr. Dinuka Perera – DCEO LankaPay; Mr. Channa de Silva – CEO LankaPay; Mr. Rajeeva Bandaranaike – Chairman of the Panel of Judges; Mr. Vasantha Alwis, Director – Payments and Settlements of the Central Bank of Sri Lanka; and Mr. Indrajith Boyagoda – Secretary General of Sri Lanka Banks’ Association
Mr. Dinuka Perera – DCEO LankaPay; Mr. Channa de Silva – CEO LankaPay; Mr. Rajeeva Bandaranaike – Chairman of the Panel of Judges; Mr. Vasantha Alwis, Director – Payments and Settlements of the Central Bank of Sri Lanka; and Mr. Indrajith Boyagoda – Secretary General of Sri Lanka Banks’ Association

As Sri Lanka steadily embraces digitalization, this transformation has been driven by vision, collaboration, and purposeful innovation with financial inclusion at its core. The country’s financial sector has remained resilient and forward-looking, playing a vital role in economic stability while ensuring that digital financial services reach a broader spectrum of society. As the National Payment Network, LankaPay continues to enable inclusive digital payment solutions that expand access, enhance convenience, and empower individuals, businesses, and government institutions across the country. LankaPay Technnovation Awards 2026 serve as a tribute to the pioneers of Inclusive FinTech—those who have broken barriers to access, empowered everyday lives, and brought more Sri Lankans into the digital economy. Their innovations are shaping a shared journey towards an inclusive, empowered, and future-ready nation, where progress is accessible to all.

LankaPay Technnovation Awards 2026 is aptly supported by the sponsorship of several leading players in the industry reflecting a strong industry-wide commitment towards advancing Inclusive FinTech. The Strategic Partners of the event are Mastercard, marking its second consecutive year of partnership, and BPC, which steps up as a Strategic Partner this year following its role as a Platinum Sponsor in 2025. The Platinum Sponsors are UnionPay International, partnering with the event for the fourth consecutive year, and NOVUS Technologies, associating with the LankaPay Technnovation Awards for the second time as a valued partner. The Gold Sponsor, Alipay+, continues its strong association with the event, marking its third consecutive year of partnership. The Silver Sponsors include JCB International, which has supported the LankaPay Technnovation Awards since its inception in 2017; NETS Singapore, partnering for the fifth consecutive year; and N-able, which joins the event for the first time, further strengthening this year’s sponsor lineup. Rolling & Action joins as the Official Creative Agency, partnering with the event for the second consecutive year. The Media Sponsors include Daily Mirror, Daily FT, Sunday Times, Ada Derana Biz, FM Derana, and TV Derana.

Rajeeva Bandaranaike – Chairman of the Panel of Judges
Rajeeva Bandaranaike – Chairman of the Panel of Judges

In line with its commitment to advancing financial inclusivity, the LankaPay Technnovation Awards 2026 aim to strengthen the efficiency, reach, and impact of Sri Lanka’s national payment network. The award criteria for 2026 consider interbank digital payment performance during the period from 1st January 2025 to 31st December 2025. Banks, non-banking financial institutions, FinTech service providers and government institutions that have demonstrated a steadfast commitment to inclusive digital payment innovation will compete across 12 award categories. These include: Overall Award for Excellence in Digital Payments, Excellence in Customer Convenience, Best Institution for Financial Inclusivity, Most Innovative Financial Institution, Most Popular Digital Payment Solution, Best Digital Payment App for Retail Payments, Best Enabler for Cross-border Transactions, Best Digital Government Payments Enabler, Best Government Institution for GovPay, Best LankaPay Card Enabler, Best Enabler for LankaSign Digital Signatures, and Best Digital Payment Strategy.

The initial shortlisting for the LankaPay Technnovation Awards 2026 was conducted based on predefined set of evaluation criteria, which were communicated at the commencement of the assessment period and subjected to an independent audit process. In the second phase of evaluation, the shortlisted institutions presented their success stories before an independent and distinguished panel of judges.

Vasantha Alwis, Director – Payments and Settlements of the Central Bank
Vasantha Alwis, Director – Payments and Settlements of the Central Bank

The Chairman of the Panel of Judges is Mr. Rajeeva Bandaranaike, Chief Executive Officer of the Colombo Stock Exchange and Chairman of the Data Protection Authority of Sri Lanka. He is also a member of the Nominations and Governance Committee of the World Federation of Stock Exchanges (WFE). The esteemed judging panel further comprises Mr. Manil Jayesinghe, Chairman of the Statutory Accounting Standards Committee and Accounting Standards Committee of the South Asian Federation of Accountants (SAFA), and Former Country Managing Partner of Ernst & Young Sri Lanka & Maldives; Mr. Sujeewa Rajapakse, Managing Partner of BDO Partners and Former Chairman of the Statutory Auditing Standards Committee; Mr. Lasantha Wickremasinghe, Partner at B R De Silva & Company and Past President of Institute of Chartered Accountants of Sri Lanka; Ms. Chamila Cooray, General Manager – Shared Services at Hemas C O E (Pvt) Ltd and Chairperson of the prestigious TAGS Awards 2025/26 organized by CA Sri Lanka; and Mr. Dulith Herath, Founder and Chairman of Kapruka PLC, Sri Lanka’s largest e-commerce enterprise.

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Aggregating innovation: Sri Lanka FinTech Summit aims to spark digital economic renaissance https://www.newswire.lk/business/aggregating-innovation-sri-lanka-fintech-summit-aims-to-spark-digital-economic-renaissance/ Tue, 16 Sep 2025 11:14:37 +0000 https://www.newswire.lk/?p=203244 L to R: Damith Pallewatte, Managing Director /CEO of HNB, Dr. Kumudu Megasooriya, MD/CEO of TECXA and Channa de Silva, Chairman of the FinTech Forum, Sri Lanka,

SL FinTech Summit’s mission to enable transformative change with coordinated ecosystem development In the bustling streets of Colombo, a smallContinue Reading

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L to R: Damith Pallewatte, Managing Director /CEO of HNB, Dr. Kumudu Megasooriya, MD/CEO of TECXA and Channa de Silva, Chairman of the FinTech Forum, Sri Lanka,
L to R: Damith Pallewatte, Managing Director /CEO of HNB, Dr. Kumudu Megasooriya, MD/CEO of TECXA and Channa de Silva, Chairman of the FinTech Forum, Sri Lanka.
  • SL FinTech Summit’s mission to enable transformative change with coordinated ecosystem development

In the bustling streets of Colombo, a small garment manufacturer still conducts most transactions in cash, despite owning a smartphone more powerful than the computers that once ran entire banks. Across the city, a FinTech start-up has developed innovative credit scoring algorithms but struggles to access the customer data that could make their solution transformative. Meanwhile, a major bank has invested millions in establishing secure digital infrastructure that while effective, still remains siloed mainly from the broader financial ecosystem.

This is the paradox facing Sri Lanka’s FinTech landscape: abundant individual capabilities existing within a fragmented system that prevents collective progress. The nation possesses all the foundational elements for digital financial transformation robust banking networks, accelerating smartphone adoption, a digitally literate youth population, and policy frameworks signalling digital ambition. Yet the ecosystem remains stubbornly disconnected, with each player operating in isolation rather than as part of a coordinated value creation network.

Today, the average Sri Lankan completes fewer than 20 digital transactions annually, while citizens in India have surpassed 60 transactions per capita. Even smaller Southeast Asian economies are advancing rapidly on digital identity, open banking, and real time settlements. What distinguishes these success stories isn’t superior technology or larger investments it’s the presence of functioning ecosystems where regulators, banks, start ups, capital providers, and academia operate in concert rather than silos.

Re-energising Sri Lanka’s FinTech Ecosystem  

The Sri Lanka FinTech Summit 2025, convening September 24–25 at BMICH Colombo, emerges from this recognition as something fundamentally different from traditional industry gatherings. Under the strategic leadership of Damith Pallewatte, Managing Director /CEO of HNB PLC, and co-chaired by Dr. Kumudu Megasooriya, MD/CEO of TECXA, and Channa de Silva, Chairman of the FinTech Forum, Sri Lanka, the summit represents a paradigm shift from showcase to coordination mechanism a deliberate effort to build year-round momentum around a unified, accountable, and investable FinTech ecosystem.

“We possess the data, platforms, and talent necessary for transformation,” explains Damith Pallewatte. “What’s been missing is strategic alignment. This summit represents our collective opportunity to move beyond aspiration toward coordinated execution with clear ownership structures, measurable outcomes, and sustained continuity.”

This vision reflects a mature understanding of how digital financial ecosystems develop. For decades, Sri Lankan banks viewed FinTechs as existential threats lean, fast-moving entities poised to disrupt traditional finance. That adversarial relationship has evolved into something more sophisticated and ultimately more productive. Regulatory constraints, capital requirements, and public trust considerations have revealed the limits of what FinTechs can achieve independently. Simultaneously, banks have recognised that agility, innovation velocity, and customer-centric service delivery represent strengths the sector cannot afford to ignore.

The synthesis creates unprecedented value. Traditional financial institutions contribute regulatory expertise, capital adequacy, compliance infrastructure, and established customer relationships. FinTech innovators bring technological sophistication, service delivery reimagination, and a willingness to challenge conventional approaches. Together, they can create systems that are simultaneously safe and transformative—but only when collaboration has structure, accountability, and shared strategic direction.

Establishing the Architecture of Systemic Change 

The summit’s operational framework reflects this system’s thinking approach. Rather than conventional panel discussions followed by networking sessions, each plenary feed directly into specialised workstreams addressing specific ecosystem barriers: SME access to finance, blockchain regulatory pilots, KYC interoperability, cross-border payments, and digital credit scoring integration.

This structure ensures that conversations translate into actionable outcomes. Every strategic recommendation emerges with defined ownership, implementation timelines, and accountability mechanisms. Progress tracking occurs through public dashboards, creating transparency and maintaining momentum into next year’s summit.

“We have collectively built world-class core financial services infrastructure in the country for fast, secure and reliable digital payments in partnership with members of the Fintech Forum, Sri Lanka such as banks, NBFIs and fintech companies. The growth of digital payments has seen a significant increase over the years. But true transformation requires shared ownership and follow through. This summit moves us from discussion to delivery, creating the structures needed to convert ambition into measurable outcomes that bring progress,” Channa de Silva explained.

Accordingly, the summit’s strategic agenda will center on five interlocking pillars designed to break down the barriers that have long held Sri Lanka’s FinTech ecosystem in silos.

  1. The primary focus will be on accelerating SME financial inclusion through lending models that dispense with traditional collateral requirements, thereby opening new channels of growth capital for previously underserved businesses.
  2. Concurrently, regulators and industry leaders will discuss pilot blockchain programmes and efforts to establish regulatory sandboxes carefully calibrated environments that encourage technological experimentation while safeguarding systemic stability.
  3. A third priority is the creation of a truly interoperable infrastructure, standardising KYC procedures and instituting real time data exchange protocols so that customer onboarding becomes seamless across banks, FinTechs and service providers.
  4. Fourth, the summit seeks to modernise Sri Lanka’s cross-border payments by deploying efficient, cost-effective transaction systems that elevate Sri Lanka from peripheral player to regional financial hub.
  5. Finally, by integrating alternative data sources with AI-driven scoring mechanisms, organisers aim to expand credit access without diluting risk management standards, ensuring that intelligence-driven credit becomes a reliable pillar of the national economy

 

“Our goal is to inspire change and implement tangible operational transformation. This summit initiates systematic problem-solving across institutional boundaries, creating sustained collaborative momentum that extends far beyond September,” Pallewatte said. 

Global Knowledge Sharing and Integration

The most significant opportunity lies in human capital development. Currently, fewer than 10% of technology and finance graduates enter the FinTech or start up sector a fundamental misalignment between educational outcomes and economic transformation needs. The summit will table a comprehensive academic-industry collaboration framework designed to bridge this gap through:

  • Structured Internship Exchanges: Creating direct pathways between universities and FinTech organizations
  • Industry-Relevant Certification Programmes: Bridging skill gaps through targeted professional development
  • Regulatory Laboratory Placements: Providing practical experience in policy development and compliance frameworks

This approach recognizes that sustainable ecosystem development requires not just technological infrastructure, but human infrastructure professionals who understand both traditional financial principles and emerging digital possibilities.

The summit’s international dimension ensures Sri Lanka’s development incorporates proven strategies from leading digital finance hubs. Over 150 speakers include Sopnendu Mohanty, Chief FinTech Officer at the Monetary Authority of Singapore, alongside leaders from Africa’s mobile money revolution, Southeast Asia’s super-app ecosystems, and the Gulf’s digital banking transformation.

This global knowledge transfer prevents reinventing solved problems while ensuring local solutions address specific market characteristics and regulatory requirements. The goal isn’t to copy international models, but to adapt successful principles to Sri Lankan realities.

Measurable Transformation Targets 

The summit’s success metrics align with Sri Lanka’s Digital Economy Strategy 2030, which envisions a USD 15 billion digital economy contributing 12% of GDP. Specific transformation indicators include:

  • Financial Inclusion Expansion: Achieving 95% financial inclusion by 2030 through coordinated digital access initiatives
  • Investment Capital Mobilisation: Attracting USD 100 million in near-term FinTech investment through improved ecosystem visibility and coordination
  • SME Digital Adoption: More than doubling FinTech utilization among small and medium enterprises
  • Human Capital Development: Expanding FinTech sector employment among graduates from the current 10% to 25% through industry-academia collaboration

These targets reflect an understanding that transformation occurs through accumulated systemic improvements rather than isolated breakthrough moments.

Turning Ripple Effects into Waves of Growth

The summit’s ambition reaches far beyond reforming financial services; it aspires to catalyse a sweeping digital acceleration across Sri Lanka’s entire economy. By achieving seamless interoperability between payment systems, enabling secure data exchange across institutions, streamlining SMEs’ access to growth capital and extending universal financial inclusion, Sri Lanka can move from behind the pack to emerge as a regional lead in this ambitious global movement.

Such transformation creates cascading benefits. Efficient digital payments reduce transaction costs for businesses. Improved access to credit enables entrepreneurship and expansion. Standardized KYC processes minimise compliance burdens. Cross-border payment efficiency attracts international business. Enhanced financial inclusion brings previously excluded populations into the formal economy.

The garment manufacturer that still operates primarily in cash gains access to digital supply chain financing. The FinTech start-up’s innovative algorithms find application across multiple financial institutions. The bank’s digital infrastructure becomes part of an interconnected ecosystem that serves customers more effectively than any single institution could achieve alone.

Sri Lanka’s digital financial renaissance begins with recognition that transformation is not a destination but a process one that requires every stakeholder to see their success as inseparable from the ecosystem’s collective advancement. The summit provides the framework. The real work begins the day after it ends,” Dr.Kumudu Megasooriya said.

The message is clear: the summit may set the stage, but progress depends on what we do next on decisions made in boardrooms, code written in start-ups, and partnerships forged across sectors.

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Disrupt Asia 2025 positions Sri Lanka as regional Innovation Hub and amplifies international presence https://www.newswire.lk/business/disrupt-asia-2025-positions-sri-lanka-as-regional-innovation-hub-and-amplifies-international-presence/ Wed, 30 Jul 2025 12:48:14 +0000 https://www.newswire.lk/?p=197035

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Asia Berlin Ambassador Manori Unambuwe and Carl R. Härtlein with members of the Digital Economy Investment Committee during a collaborative discussion on strengthening Sri Lanka’s innovation ecosystem
Asia Berlin Ambassador Manori Unambuwe and Carl R. Härtlein with members of the Digital Economy Investment Committee during a collaborative discussion on strengthening Sri Lanka’s innovation ecosystem

Accelerating Sri Lanka’s digital future, Disrupt Asia 2025, South Asia’s premier startup conference and innovation festival, is to be held from 17th to 20th September. Going beyond a four-day event, it is a national movement focused on driving innovation, enabling global opportunities, and influencing long-term policy and tech-driven transformation.

Currently, Sri Lanka’s growing startup ecosystem, backed by government agencies, industry partners, and globally connected institutions, is gaining unprecedented momentum.

As a platform, Disrupt Asia 2025, conference aims to create a conducive ecosystem for investment, attract international investors, and facilitate the soft landing of investors, startups, and accelerators into the Sri Lankan market. Building these strategic connections globally, Disrupt Asia 2025 is positioning itself as a catalyst for transforming Sri Lanka into a regional innovation hub.

To date, Disrupt Asia 2025 has ramped up global engagement through a series of high-profile events and strategic visits. The global roadshow campaign has created significant momentum in key markets while elevating Sri Lanka’s dynamic tech ecosystem and laying the groundwork for the flagship summit later this year.

 

Hon. Eranga Weeraratne, Deputy Minister of Digital Economy, with Asia Berlin Ambassador Manori Unambuwe and Carl R. Härtlein, during a meeting on fostering international collaboration in Sri Lanka’s startup ecosystem
Hon. Eranga Weeraratne, Deputy Minister of Digital Economy, with Asia Berlin Ambassador Manori Unambuwe and Carl R. Härtlein, during a meeting on fostering international collaboration in Sri Lanka’s startup ecosystem

At India’s Startup Mahakumbh 2025 in New Delhi, ICTA officials showcased Sri Lanka’s vision to thousands of entrepreneurs and investors. Sri Lanka was present at the Global Entrepreneurship Congress in Indiana with participation in the Startup Nations Ministerial and GEN Invest Forum. At Singapore’s Echelon 2025, the team partnered with nVentures to highlight a nation at the cusp of exponential digital growth..

The roadshows culminated with Asia Berlin’s Carl Rainer Hartlein undertaking a focused visit to Colombo, engaging with ICTA, Digital Economy Investment Committee, Hatch Works, Port City Colombo, Sri Lanka Association for Software and Services Companies (SLASSCOM), and TRACE Expert City to explore cross-border innovation opportunities. This visit was facilitated by Asia Berlin Ambassador Manori Unambuwe.

“Sri Lanka stands out as a resilient and innovative nation, home to a dynamic startup ecosystem and world-class talent. With its vibrant innovation hubs and strong culture of excellence, the country plays a unique role as a politically neutral connector in Asia, fostering exchange, collaboration, and breakthrough ideas.”

The conference will also feature a high-level lineup of Government dignitaries including H.E. Hon. Anura Kumara Dissanayake – President of Sri Lanka, Hon. Eranga Weeraratne – Deputy Minister of Digital Economy, Dr. Hans Wijesuriya – Chief Advisor to the President on Digital Economy and Chairman, ICTA, Dr. P. Nandalal Weerasinghe – Governor, Central Bank of Sri Lanka. Global Industry figures such as Dr. Sanjiva Weerawarnna, Mr. Bhanuka Harischandra, Ms. Padmaja Ruparel , Mr. Rajan Anandan , Mr. Craig Dixon.

Disrupt Asia 2025 keynote address will be delivered by Vijay Shekhar Sharma, Founder and CEO, Paytm, India’s digital payments pioneer.

The conference will explore how Sri Lanka is shaping a business environment favorable to startups, and why global innovators should consider establishing their ventures in the country.

Globally recognized founders, startup ecosystem builders, and international investors actively seeking high-growth opportunities in South Asia’s dynamic startup ecosystem will attend the event.

This year’s conference aims to attract more venture capitalists by positioning Sri Lanka as a prime destination for investment. The main conference and the Innovation Festival will spotlight the country’s top tech startups, providing them a platform to showcase their innovations to both local and international investors. With more partners joining including government agencies, industry associations, ecosystem builders and global networks, Sri Lanka is on track to revolutionize the country’s startup ecosystem positioning Disrupt Asia 2025 as a movement to unlock global opportunities and accelerate innovation at home.

Startup showcase applications are now open, providing emerging companies the opportunity to present their innovations to a global audience of investors, industry leaders, and potential partners. Both startup showcase applications and main conference tickets are available at www.disruptasia.today, offering access to networking, learning, and collaboration that will shape Sri Lanka’s digital future. For inquiries, contact info@disruptasia.today.

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Capital & Talent Policy Overhaul “Non-Negotiable” to Build $15Bn Digital Economy – Dr. Hans https://www.newswire.lk/business/capital-talent-policy-overhaul-non-negotiable-to-build-15bn-digital-economy-dr-hans/ Mon, 07 Jul 2025 10:46:52 +0000 https://www.newswire.lk/?p=194047 Dr Hans Wijayasuriya

A bold call for sweeping reforms in capital and talent mobility was issued by Dr. Hans Wijayasuriya, Chief Advisor toContinue Reading

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Dr. Hans Wijayasuriya
Dr. Hans Wijayasuriya

A bold call for sweeping reforms in capital and talent mobility was issued by Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy, who declared that such changes are “non-negotiable” if Sri Lanka is to achieve its ambitious goal of building a US$ 15 billion digital economy.

Delivering the keynote address at the post AGM session of the Sri Lanka Association for Software and Services Companies (SLASSCOM) on Thursday, Dr. Wijayasuriya one of the key architects of the government’s DIGIECON 2030 strategy outlined a powerful vision for Sri Lanka’s digital transformation.

“We are at a critical inflection point,” he said. “To move from a service-based economy to one that creates products and owns IP, we must create a frictionless environment. We cannot expect innovators to build global companies if their wings are clipped by outdated regulations.”

The “Three T’s”: Talent, Trust, Transformation

At the core of Dr. Wijayasuriya’s address was a strategic framework he defined as the “Three T’s”Talent, Trust, and Transformation with capital and talent mobility identified as the enablers to unlock all three.

On Talent, he challenged traditional norms in education, suggesting it’s time to rethink the relevance of four year degrees in the age of AI.

“Can we not be radical and transform our education system so that talent can be developed in 18 months and join the workforce?” he asked, presenting a bold vision for Sri Lanka to become the “AI talent capital of Asia.”

This vision, he stressed, depends heavily on talent mobility seamless access for global experts to contribute to local innovation and for Sri Lankan talent to thrive on the global stage.

On Trust, Dr. Wijayasuriya emphasized the need to position Sri Lanka as a trusted brand for global digital investment. He urged SLASSCOM to lead the way in upholding ethical standards, IP protection, and cybersecurity, all of which are now seen as critical competitive advantages.

On Transformation, he called for a national shift from offering low value outsourcing services to developing high-value, globally scalable digital solutions, including “Digital Transformation as a Service” and eventually nurturing Sri Lankan headquartered product companies.

“This transformation is impossible without capital mobility,” he stated. “Investors need the confidence that the capital they put into Sri Lankan innovation can flow freely to scale globally.”

SLASSCOM’s Role: Catalyst for Reform

Dr. Wijayasuriya positioned SLASSCOM as the key private sector force to advocate for these reforms. He urged the association and its members to champion the mindset shift needed to take full advantage of the digital economy opportunity.

“The time for incremental change is over. If we are serious about building a $15 billion digital economy, the policies that restrict capital and talent flow must be reimagined urgently,” he concluded.

As Sri Lanka charts its course toward becoming a regional digital powerhouse, Dr. Hans’ message was clear: unlocking capital and talent isn’t optional, it’s essential.

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