Dr Ganga Tilakaratna Highlights the Importance of Digital Transformation in Promoting Financial Inclusion in Sri Lanka

Date: 28-30 October 2025

“There is a pressing need to bridge the digital divide, improve financial and digital literacy across all population segments, and integrate digital payment solutions into essential services,” stated IPS Research Fellow and Head of Poverty and Social Welfare Policy Research, Dr Ganga Tilakaratna, highlighting the importance of achieving inclusive digital transformation in the Sri Lankan financial sector.

She made these remarks during her presentation on ‘Digital Transformation and Financial Inclusion in Sri Lanka’ at the Global Development Conference 2025 on ‘Inclusive Digital Transformation: Social Impacts and Technological Innovations’, held in France from 28–30 October 2025.

Dr Tilakaratna further highlighted that Sri Lanka’s financial sector has undergone significant technological and digital transformation in recent years with the introduction of innovative initiatives such as digital wallets, mobile apps, and QR payment solutions. Additionally, Sri Lanka has taken steps to strengthen its national payment infrastructure to ensure efficient transactions and interoperability across financial institutions and instruments. Dr Tilakaratna explained that these technological advancements and the COVID-19 pandemic-induced demand for contactless financial services have resulted in a notable increase in the use of digital payments in recent years. “The adoption of digital payments has increased significantly across all segments of society, narrowing the gap between the poorest 40% and the wealthiest 60% of the population by 2024,” she said.

The Global Development Conference 2025, organised by the Global Development Network (GDN), brought together over 300 participants, including researchers, policymakers, academics, and practitioners from around 80 countries. The conference explored the social implications of advancements in digital technologies and advocated for leveraging such advancements for social and economic progress.