Sri Lanka FinTech Summit 2025: A digital bridge to economic recovery

SRI Lanka stands at a pivotal moment in its economic history. After weathering its worst financial crisis in decades, the nation is emerging with renewed determination and a clearer vision for sustainable growth.

- BY DR. KUMUDU MEGASOORIYA

The economy grew by 5% in 2024, driven by a construction-led rebound in industry and strong performance in tourism-related services, signalling the beginning of a recovery that demands innovative solutions to address persistent challenges.

However the true measure of economic

However, the true measure of economic transformation lies not in avoiding challenges, but in converting them into competitive advantages. The conventional narrative views Sri Lanka's economic constraints as limitations to overcome. A more strategic analysis reveals these same factors as untapped market opportunities that can drive unprecedented growth when approached with innovative solutions.

The fact that 15% of our population still lacks formal financial access represents not a developmental deficit, but a substantial market opportunity worth billions of rupees waiting to be captured through innovative financial solutions. This unbanked population constitutes a ready market for digital financial services, representing immediate demand for mobile banking, digital wallets, and microfinance solutions that can be delivered at scale through technology platforms.

Similarly, our rural areas, often characterised as underserved markets, actually constitute natural innovation laboratories where new financial models can be developed, tested, and refined before scaling nationally and regionally. The unique challenges of rural financial service delivery from connectivity issues to varying literacy levels, create the perfect environment for developing resilient, inclusive financial technologies that can succeed in any market condition.