Fintech Forum Gives a Collaborative Vision for Sri Lanka-Ransika De Silva
Ransika De Silva, Founder & CEO of Paymaster Solutions (Pvt) Ltd, believes it’s time for Sri Lanka’s fintech sector to shine. “The establishment of a Fintech Forum is a game-changer,” he says. “It’s about bringing everyone together—fintechs, regulators, banks, and investors—to collaborate and innovate.”
“The Fintech Forum is designed to give fintech companies the platform they need to make their voices heard and work hand-in-hand with stakeholders to drive financial inclusion and innovation. Sri Lanka’s fintechs have already made significant contributions by creating solutions that address gaps in financial access for groups like tuk-tuk drivers and small businesses. However, for these innovations to thrive, the ecosystem needs policies and partnerships that support growth while ensuring stability”, he elaborates.
Working Together
At its heart, the Fintech Forum is about teamwork. By supporting open conversations and partnerships, the Forum aims to:
- Build trust and understanding between fintechs and regulators.
- Develop modern policies that encourage innovation and responsible growth.
- Help traditional banks and fintechs join forces to bring smarter financial solutions to people.
- Connect fintechs with investors to unlock funding and fuel their ideas.
“When fintechs, banks, and regulators come together, the possibilities are endless,” De Silva shares. “Instead of competing, let’s collaborate to create products that change lives.”
The Forum also serves as a problem-solving space. By discussing challenges and sharing ideas, stakeholders can identify solutions that push the industry forward, positioning Sri Lanka’s fintech sector as a key driver of economic growth and inclusion.
Learning from the World
De Silva is inspired by how fintech ecosystems in places like Singapore and India have grown through collaboration.
“Singapore’s regulators engage with fintechs in ways that are both constructive and challenging,” he explains. “They ask the tough questions, forcing you to refine your ideas and anticipate risks. It’s not about roadblocks; it’s about building something sustainable.”
India offers another great example. The introduction of QR code payments through government-backed initiatives like UPI revolutionised digital payments. These efforts made it easier for everyone—from small businesses to everyday consumers—to embrace cashless transactions. Ransika believes Sri Lanka can adopt similar strategies by fostering collaboration between all ecosystem players.
Accelerating Financial Inclusion
One of the Forum’s top goals is to make financial services accessible to all Sri Lankans. Through partnerships and fresh ideas, the Forum will:
- Push for policies that make digital payments easy and attractive for small businesses.
- Work on reducing transaction costs for both merchants and consumers.
- Promote financial literacy so that everyone can take advantage of fintech innovations.
“It’s about moving from guarding what’s ours to building something bigger together,” Ransika emphasises. “When we focus on inclusion, everyone wins.”
Joining the Movement
The Fintech Forum welcomes members from across the ecosystem including established banks and financial institutions, emerging fintech companies with fresh ideas, venture capitalists and angel investors seeking the next big thing, universities and institutions contributing to thought leadership, and individual professionals passionate about fintech and innovation. Members will gain access to funding opportunities, industry connections, and a chance to help shape the future of fintech in Sri Lanka.
A Vision for the Future
“The Fintech Forum is about more than fintechs,” Ransika concludes. “It’s about creating a culture of collaboration and growth. Together, we can transform Sri Lanka’s financial sector and make it work for everyone.”
