Sri Lanka's BFSI sector explores bold digital future at 'Navigate 2025'

IN a move signalling the next chapter of digital transformation for Sri Lanka's financial sector, global engineering services leader Nagarro, in collaboration with the Computer Society of Sri Lanka (CSSL) and the IIBA Colombo Chapter, hosted Navigate 2025, an exclusive, high-level event focused on "Harnessing Emerging Tech for Elevating BFSI in Sri Lanka".

- BY MICHELLE THERESE ALLES

Exploring how technologies such as Agentic AI, Generative AI, Intelligent Process Automation (IPA), and Quantum Computing are redefining the future of financial services, over 50 industry leaders from banking, finance, and insurance circles met to exchange insights and explore these emerging technologies.

Delivering a thought-provoking keynote, Nagarro Associate Director - Delivery (BFSI) Vishal Saxena showcased five trends currently shaping the global BFSI landscape:

Designed specifically for industries like finance and insurance, Small Language Models (SLMs) handle tasks such as claims automation and KYC checks with high accuracy. These models are ideal for firms navigating strict regulatory environments because of their lower infrastructure demands and ability to be deployed on-premises.

Sustainable Finance is another area where technology is playing a crucial enabling role. From blockchain-powered green bonds to AI-driven climate risk assessments, digital tools help institutions offer more transparent and credible ESG-aligned investment products.