Fintech Forum Sri Lanka launched

In a strategic move to position Sri Lanka as a regional center of excellence for financial technology (Fintech), a national body – Fintech Forum, Sri Lanka – was established recently and registered as an association. This initiative is the result of a major collaboration among Fintech companies, Banks, Non-Banking Financial Institutions (NBFIs) in Sri Lanka and LankaPay.

The forum aims to represent and advocate the interests of the Fintech industry in Sri Lanka, engaging with diverse stakeholders including the Central Bank, other government institutes, international Fintech associations and agencies. The association also intends to foster an environment conducive to the exchange of ideas, experiences, and knowledge while facilitating networking opportunities and encouraging the formation of mutually beneficial partnerships among its members. It is also intended to pave the way for local Fintech companies to form partnerships with regional players to expand their operations outside Sri Lanka.

The initial membership of the forum constitutes established Fintech companies, key banks, non-banking financial institutions (NBFIs) and LankaPay. A robust governance structure has been established through a comprehensive Code of Ethics, ensuring that member organizations operate with integrity and transparency. The association plans to collaborate closely with the Central Bank of Sri Lanka (CBSL) to introduce suitable regulations that will enhance the governance framework of Fintech companies, contributing to the overall stability of the financial sector.