Colombo — Fintech is poised to become a cornerstone of Sri Lanka’s economic growth, with the sector projected to unlock $15 billion in value and expand the digital economy’s GDP contribution from 3% today to 15% within the next decade, according to Dr. Hans Wijayasuriya, Chief Presidential Adviser on Digital Economy and Chairman of the ICT Agency (ICTA).
Speaking at the inaugural Sri Lanka Fintech Summit 2025, Dr. Wijayasuriya described fintech not merely as an IT initiative but as a strategic driver of national growth, pulling citizens, sectors, and industries into digital transactions that both strengthen the digital economy and formalize financial systems.
Four Pillars of Fintech Integration
Dr. Wijayasuriya identified technology and innovation, inclusive adoption, proportional regulation, and trust as the four essential mechanisms for successful fintech development. He emphasized the need to resolve systemic issues like user experience and liquidity, particularly for marginalized communities, and highlighted “micro X” solutions such as micro-payments, micro-insurance, and micro-lending as powerful tools for financial inclusion.
Tackling the Scam Economy
Warning of a parallel rise in the global “scam economy,” valued at over $1 trillion, he underscored the need for strong fraud protection and cybersecurity frameworks.
Building Digital Public Infrastructure
A Digital Public Infrastructure (DPI) blueprint was presented as the foundation for fintech. Central to this vision are trusted digital identities, seamless payment systems, and interoperable data-sharing platforms. With AI-driven insights, DPI can expand credit inclusion and alternative lending, where intelligence becomes more critical than collateral for driving small, efficient transactions.
A Collective Effort
Dr. Wijayasuriya urged joint commitment from government, industry, and citizens to achieve these goals, calling for a model where the state builds the core infrastructure while the ecosystem fosters innovation. He expressed confidence that with collective effort, Sri Lanka’s digital economy could achieve significant growth within five years, positioning fintech as the pivotal catalyst of transformation.
