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 bodyFintech 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.
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.
The inaugural Board of Directors of Fintech Forum Sri Lanka features C-level executives from prominent organizations in the financial services industry; including Channa de Silva, CEO of LankaPay. Conrad Dias, Chairman of LOLC Finance, Ransika De Silva, Founder & CEO of Paymaster Solutions, Sanjay Wijemanne, Chief Operating Officer of Hatton National Bank; Y. A. Jayathilaka, DGM, Products and Banking Department of Bank of Ceylon, Sumudu Gunawardhana, CIO of Commercial Bank of Ceylon, Dhanika Perera, Founder & CEO of Bhasha Lanka Pvt Ltd; Nazeem Mohamed, Director/CEO of Dialog Finance and Kanishka Weeramunda, Founder of Pay Media.
Channa de Silva will function as the Chairman and Conrad Dias as the Vice Chairman of the initial board.
Additionally, a high-profile Advisory Council comprising both international and local experts have been formed to provide strategic guidance to the board.
Notable members of the Advisory Council include Dr. Ranee Jayamaha, former member of the Governing Board of CBSL, Vasantha Alwis, Director Payments and Settlements of CBSL, Neal Cross, former Chief Innovation Officer of DBS Bank, Singapore and founder of several regional Fintech companies; and Zennon Kapron, Founder/Managing Director of Kapronasia, Singapore and Jayantha Fernando, former General Counsel/Legal Consultant of ICTA.
The Fintech Forum has outlined several key objectives to drive its mission forward. These include creating a national network to support Sri Lanka as a center of excellence for Fintech, fostering collaboration through the exchange of ideas and knowledge and promoting innovation within the industry.
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