Business
Undoing marketing: Why we need to embrace responsible marketing
By Thanzyl Thajudeen
Marketing – directly or indirectly – is undoubtedly responsible for creating both favorable and unfavorable conditions we face today either at a macro or micro level, and unfortunately, it’s more towards the latter part. It has certainly aided or contributed to creating various unnecessary needs and wants, disruptive behaviors and habits, and a diminishing concern or care for self and those around including the environment. Marketers have often failed to take responsibility towards societal and humane values when developing their strategy or activity, and have simply surrendered to their own ego, pride and master.
The ‘undoing’ of all these is yet another whole different market, under the umbrella of a new sustainable economy, and this too is done not because of the guilt feeling but rather another approach to sustain or get a piece of the pie, or feel good in fulfilling that void, or to show others that they really mean it by dressing it up with terms like sustainability, inclusivity, and value creation. This great concern in industry, societies and economies are similar to that of the climate change and its challenges we are facing. Doing less harm or mitigating them simply isn’t enough. It’s just not about sustainable business practices or minimizing the limited resources the planet holds, it’s more about unpolluting the mindsets of the people who have long been victims of irresponsible marketing tactics.
For those narrow-minded who say that marketing cannot be blamed for, really doesn’t know the meaning of what marketing is. It’s the entire process of stakeholder value creation and undoubtedly, marketers are in a better position than any others in an organization to gauge and evaluate such, as they interact with numerous internal and external stakeholders day in and day out.
Marketing has long been criticized for provoking and creating disruptions, delusions and deceptions just so that they could exploit and make immoral profits, and the aftermath and consequences of such is seen widespread. On the contrary however there are those brands that are more humane in nature, and their idea of making sustainable and meaningful profits whilst taking responsible marketing as a necessity have paid off with stronger and deeper relationships not just with their customers who they put at the center of everything they do, but with all stakeholders. It all begins with the conscience within the marketing mind and understanding that every plan or action will either have a positive or negative impact, of which the latter is often unseen or ignored. Marketers should adhere to responsible practices.
Responsible innovation has a great role to play in doing such too. Let’s forget about the comfort zones that many marketers are in, lost into their own paradigm and a know-it-all attitude that often suppress ideas and being aversive to change. This is not just for marketers but for all entrepreneurs as well. The world needs responsible innovation as opposed to disruptive innovation which though it has its ups, has resulted in taking away our abilities, knowledge and the very nature of our being. Don’t pursue innovations that makes humans more reliant and dependent on the technology. These are creating empty minds today, and worse it’s also altering our attitudes and behaviors of the human values we’ve been sustaining for generations.
Spending a great amount of time and effort in hearing out to your stakeholders, not just consumers, is something any marketer cannot ignore. Empathy and emotional intelligence have never been more important. They should mindfully engage in deeper conversations and establish platforms to exchange ideas, feedback and suggestions with a mindset of goodness which is well reflected in one’s character and conduct. It’s also important to surround yourself, both immediate and distance, with those who share a similar passion and belief of having a moral obligation to undo the damages caused to the mindsets and perceptions of people, whether through the products and services you offer, the media and messaging you use, and the entire business infrastructure and value chain you’ve built. Whether you’re in a B2B or B2C setting, it’s all about human-to-human communication today where technology is simply the enabler.
Stress is a major phenomenon among today’s generation, fueled by the various complex issues that are only rising further and further – and yes, marketing, media, technology and entertainment has contributed to this greatly. Numerous research has found that Generation Z has the highest stress and anxiety than any other groups, followed by Millennials and marketers need to understand what this means when it comes to their customers and employees and be able to connect the dots with their behavior and emotions. Unfortunately, this crucial aspect is often ignored or not given much attention to.
Marketers are also often lost into the competition mindset and this type of thinking is so outdated today. This has only resulted in increased ego. It’s a shared economy everywhere, and marketers should find the ways and means in how best to share their resources and capabilities with others in their ecosystem and achieve a more sustainable value driven proposition in their pursuit to realize the results of their responsible marketing activities.
Marketers can, or should, play a key role in undoing and restoring all that is lost or stolen from our inner-human and societal values and not turn a deaf ear to everything that’s happening today. Acquire more self-awareness on being responsible, instill such values in your mind and all those who you lead, pursue on initiatives and decisions that will only improve people’s hearts and minds, and leave behind a legacy of goodness. With many hopes, I conclude this message to all my fellow marketers and entrepreneurs.
DFCC Bank PLC has entered a partnership with The Ceylon Chamber of Commerce, to formally integrate Ceylon Chamber-led macroeconomic and sectoral intelligence into its service model. This strategic collaboration is set to enhance both internal expertise and client-facing value, reinforcing DFCC Bank’s position as the most insight-driven and customer-aligned bank in the country.
By harnessing the Ceylon Chamber’s deep research capabilities, DFCC Bank will gain privileged access to quarterly macroeconomic outlooks, sector-specific insights, and dynamic market intelligence. These deliverables will inform decision-making across the organisation—from strategy formulation to client advisory—ensuring DFCC Bank teams remain ahead of the curve in responding to economic developments and customer needs.
Through this partnership, the Ceylon Chamber will provide briefings on key economic indicators such as GDP performance, inflation trends, policy shifts, and global economic movements, alongside industry analyses tailored to DFCC Bank’s client sectors. These insights will not only serve internal capability-building but also enhance client conversations—offering DFCC Bank customers access to curated intelligence through strategic reviews and presentations.
Thimal Perera, CEO of DFCC Bank, commented:
“As we sharpen our focus on delivering value beyond banking, this collaboration with the Ceylon Chamber of Commerce gives us and our clients a distinct advantage. Timely economic insights and sector intelligence will strengthen the relevance and depth of our engagements – enabling us to support customers with more informed, responsive financial solutions that align with the realities they face.”
Buwanekabahu Perera, Secretary General and CEO of the Ceylon Chamber stated:
“Our goal is to take economic intelligence beyond boardrooms and make it practical and actionable for businesses. Partnering with DFCC Bank allows us to do exactly that, by ensuring that insights translate into better advice, faster decisions, and stronger outcomes for businesses.”
The official signing of the Memorandum of Understanding took place on 12 June 2025, symbolising a shared vision for smarter financial ecosystems in Sri Lanka.
In an impassioned call to action, Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe, declared that Sri Lanka was ready to “unleash a new era of startup-driven growth, as he kicked off the prelude to Disrupt Asia 2025 — a four-day mega-event that aspires to redefine the nation’s digital economy and transform it into South Asia’s next innovation hub.
“We are no longer waiting for the future. We are building it, right here, starting now, said Abeysinghe. “With Disrupt Asia, we aim to place Sri Lanka firmly on the map as a gateway to South Asia, the Gulf, and Southeast Asia for global investors, innovators and disruptors.”
Scheduled to run from September 17–20 in Colombo, Disrupt Asia 2025 is more than just another tech event. Backed by the Ministry of Digital Economy and the ICT Agency (ICTA), the platform is being positioned as the national accelerator for startups and innovation—bringing together universities, industry leaders, policymakers, investors, and the general public into one unified ecosystem.
The event is anchored in Sri Lanka’s broader ambition to grow its digital economy from a current estimated transaction volume of USD 3–5 billion to USD 15 billion by 2030. To achieve this, the government is rolling out a multi-pronged strategy: a USD 50 million Fund of Funds to boost venture capital availability, the creation of a Virtual Special Economic Zone (SEZ) and new equity pathways for startups through the Colombo Stock Exchange.
Deputy Minister Abeysinghe noted that the government was working with financial advisory firm KPMG to address longstanding taxation and regulatory hurdles, including the double taxation of venture capital funds and limited frameworks for foreign co-founders.
“These policies are no longer in the shadows, he stressed. “They are being debated, fixed and aligned so that startups can thrive in a globally competitive landscape.”
Heminda Jayaweera, Executive Director at TRACE Sri Lanka, the ecosystem partner and host of the Innovation Festival on September 19, called the event “a confluence of creativity, code, and capital.”
TRACE Expert City will host more than 50 interactive product demos, themed exhibitions spanning HealthTech, AgriTech, FinTech, AI, Tourism, and GovTech, and immersive installations aimed at both the general public and young innovators.
Jayaweera emphasized the importance of creating an “incubation ground” that serves not just the tech elite, but also students, small-town entrepreneurs, and policymakers. “This is where ideas collide and evolve,” he said. “It’s where we disrupt the status quo.”
Sandun Hapugoda, Country Manager of Mastercard Sri Lanka and Maldives, added a private sector perspective to the conversation. “This is not just another tech expo, he said. “It’s a serious commitment to transform Sri Lanka into a digitally inclusive, investor-attractive economy.”
Mastercard’s participation as a strategic partner underscores the importance of collaboration in achieving these goals. “Innovation doesn’t happen in silos, Hapugoda noted. “We are working with entrepreneurs, policymakers, and financiers to build scalable solutions.”
Mastercard’s support extends to FinTech integrations, digital commerce enablement, and cybersecurity solutions — all crucial building blocks for a vibrant digital economy.
Prajeeth Balasubramaniam, Managing Partner at BOV Capital and founder of LAN, said the platform was already working to secure listings for at least two promising startups on the Colombo Stock Exchange. “Equity is not a foreign concept. We’re just late adopters. But now, we’re building the runway, he said.
Disrupt Asia 2025 will also host a “Sundowner Cultural Showcase” that celebrates Sri Lanka’s creative and artisanal identity. Featuring curated culinary offerings from Asaya Sands, gem exhibitions, and artisanal tastings, the event aims to build a bridge between innovation and tradition.
“This is more than a networking mixer, said event curator Ruwani Fernando. “It’s a statement. Sri Lanka is a land of both ancient wisdom and future-focused solutions.”
By Ifham Nizam
Business
Sampath Bank pioneers SL’s standardised API banking platform, redefining transaction banking
Sampath Bank has set a new milestone as the first bank in Sri Lanka to launch a standardised Application Programming Interface (API) platform. This revolutionary move redefines corporate banking by simplifying and automating intricate financial processes for businesses of all sizes, reflecting the Bank’s steadfast commitment to providing agile, technology-driven solutions for its expanding base of corporate and SME clients.
API banking fundamentally transforms traditional banking by exposing core functions and data as web services accessible to third-party applications. This approach creates a more interconnected and flexible ecosystem that enhances convenience, encourages innovation and improves efficiency in delivering and consuming financial services.
The new platform empowers businesses to seamlessly integrate Sampath Bank’s core banking capabilities into their internal Enterprise Resource Planning (ERP) systems. This integration supports faster supplier payments, streamlined collections, real-time balance inquiries and trade-related transactions, while maintaining established approval chains and audit controls inherent in corporate systems.
Driven by a deep understanding of digitalisation’s transformative potential, the development of this platform aims to empower corporate decision-makers by saving time and increasing visibility across financial operations. As Mr. Sanjaya Gunawardane, Chief Strategy Officer at Sampath Bank, explains, “There is no longer a need to spend hours managing physical payments or manually reconciling bank records. This platform empowers businesses, enabling them to configure, validate and execute transactions securely through a single interface. Our goal was to deliver an end-to-end solution that not only boosts efficiency but also transforms the overall banking experience. This is part of our ongoing commitment to introducing cutting-edge technologies to reshape the Sri Lankan business landscape.”
Addressing a critical challenge in financial supply chain management, this innovation offers companies a suite of ready-to-integrate APIs, automated testing tools and rapid onboarding processes that make it possible to go live within days rather than weeks.
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