Finance Sri Lanka 2019

The financial services industry in Sri Lanka is in the midst of a revolution. Traditional players today are facing rapid and irreversible changes across technology, customer behaviour and regulations. The sheer scope and speed of evolution in these three areas – coupled with changing market dynamics and aggressive non-bank competitors – means the industry in the future cannot simply be a continuation of traditional banking as it has been. With only 19% of the population living in urban areas, the financial institutions are facing the challenge of transitioning from conventional to digitally driven banking services due to lack of customer inclination.

 Colombo, Sri Lanka