LankaPay Technnovation Awards recognizes digital payments excellence as leading banks, financial institutions, and fintech firms were honoured for their contributions to advancing Sri Lanka’s digital payments ecosystem at a ceremony held this week.
LankaPay Technnovation Awards recognizes digital payments excellence in Sri Lanka
The awards, organised by LankaPay, brought together over 600 industry leaders to celebrate innovation, performance, and growth in the country’s financial services sector during 2025. A total of 56 awards were presented across 12 categories, reflecting the rapid evolution of digital financial solutions and increasing adoption of electronic payment platforms.
In the highly competitive banks category, Commercial Bank of Ceylon secured the Gold Award for “Excellence in Digital Payments,” recognising its leadership in driving innovation and expanding digital banking services. Bank of Ceylon was awarded Silver, while Hatton National Bank received Bronze, highlighting strong competition among established financial institutions.
The non-bank financial institutions category saw LOLC Finance clinch its seventh consecutive Gold Award, underscoring its sustained performance and commitment to digital transformation. LB Finance was named runner-up, reflecting its continued growth in digital service delivery and customer engagement.
In the FinTech category, Dinnovation emerged as the Gold winner, while MegaPay received a Merit Award, demonstrating the increasing role of technology-driven firms in shaping the future of financial services.
Delivering the closing remarks, Channa Silva highlighted the scale and impact of LankaPay’s infrastructure on the national economy. He revealed that the total value of transactions processed across all LankaPay systems reached 42 trillion rupees, with real-time payments accounting for 23 trillion rupees. In addition, government revenue collected through digital platforms amounted to 3.5 trillion rupees, indicating the growing integration of digital payments into public sector operations.
Industry observers note that these figures reflect a significant shift in consumer and business behaviour, with digital transactions becoming the preferred mode of payment. The expansion of real-time payment systems, in particular, has improved efficiency, reduced transaction costs, and enhanced financial inclusion across the country.
The event was attended by key policymakers and industry stakeholders, including Nandalal Weerasinghe, who served as the chief guest. Also present were Eranga Weeraratne and Hans Wijayasuriya, underscoring the government’s focus on accelerating the digital economy agenda.
The LankaPay Technnovation Awards serve as a benchmark for excellence within the digital payments landscape, recognising institutions that have demonstrated innovation, reliability, and customer-centric solutions. The recognition of both established banks and emerging fintech players highlights the collaborative nature of the ecosystem, where traditional and digital-first entities coexist and drive progress.
As Sri Lanka continues to strengthen its digital infrastructure, initiatives such as these play a critical role in encouraging competition and setting industry standards. The emphasis on digital payments aligns with broader national objectives to enhance financial inclusion, improve transparency, and support economic growth through technology adoption.
The success of the awards also reflects the momentum gained in Sri Lanka’s digital economy, where increased smartphone penetration, improved connectivity, and supportive regulatory frameworks have contributed to widespread adoption of electronic payment systems. Financial institutions are increasingly investing in digital platforms to meet evolving customer expectations and remain competitive in a rapidly changing landscape.
With LankaPay Technnovation Awards recognizes digital payments excellence continuing to highlight achievements in the sector, stakeholders expect further innovation and expansion in digital financial services. The ongoing collaboration between regulators, financial institutions, and technology providers is likely to shape the next phase of growth in Sri Lanka’s digital payments ecosystem.