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A.R.B.J Rajapaksha
A.R.B.J Rajapaksha
Apr 03 2026
34The Fintech Association of Sri Lanka (FASL) has announced a strategic cross-border fintech collaboration with the Singapore-based APIX Platform, following the successful conclusion of the FinTech World Cup – Sri Lanka Regional Competition held on 31st March 2026 at Port City Colombo.
Rajkumar Kanagasingam, Founding President, Fintech Association of Sri Lanka
The event convened fintech start-ups, financial institutions, investors, and policymakers, reinforcing Colombo’s growing role within a global innovation ecosystem, leading to the Dubai FinTech Summit 2026, where the winning start-up will advance to the global Grand Finale.
Organised by FASL in strategic partnership with Port City Colombo, the Sri Lanka Regional Competition forms part of the global FinTech World Cup—organised by Trescon and powered by Ignyte—connecting high-growth fintech ventures with international markets, capital, and strategic partnerships.
Advancing a Global Fintech Collaboration Platform
In parallel with the event, FASL announced its collaboration with the APIX Platform, positioning Colombo within an emerging fintech innovation corridor linking South Asia, Southeast Asia, and the Middle East. Aligned with the development of Port City Colombo as a multi-services Special Economic Zone (SEZ), the initiative underscores Colombo’s evolution as a neutral gateway between major global financial hubs.
Bai Xiaping, Assistant Managing Director, CHEC Port City Colombo (Pvt) Ltd
Through APIX, Sri Lankan fintechs gain access to structured cross-border innovation platforms—including global TechSprint initiatives, institutional hackathons, and secure digital sandbox environments—creating direct pathways for engagement with financial institutions, regulators, and multilateral organisations across Asia, the Middle East, Europe, and other emerging markets.
Speaking at the event, Rajkumar Kanagasingam, Founding President of the Fintech Association of Sri Lanka and Industry Fellow at the Global Fintech Institute (Singapore), highlighted the strategic significance of the initiative:
“We are not just hosting an event—we are opening a gateway from South Asia to the world. Fintech today is no longer just about technology; it is about who builds the future of finance. And that future will be shaped by ecosystems that are globally connected.”
Global Platform with Institutional Backing
The APIX Platform connects more than 10,000 fintechs and developers in over 90 countries, enabling collaboration across financial institutions and regulators to accelerate solution discovery and deployment.
Originally founded by the Monetary Authority of Singapore (MAS) and the International Finance Corporation (IFC) of the World Bank Group, APIX was launched at the Singapore FinTech Festival in 2018. It has since evolved into a Singapore-headquartered commercial entity backed by the LemmaTree Group—established by Temasek, Singapore’s state-owned global investment firm—and Mastercard.
Fireside Chat featuring Lakshitha Jayaweera, Vice President at Citi
Its ecosystem includes collaborations with leading global institutions such as MAS, SWIFT, the Reserve Bank of India, and G20 innovation initiatives.
At the core of the platform is a modular innovation infrastructure comprising a secure Digital Sandbox, a global API marketplace, and structured challenge and hackathon tools—key building blocks of modern financial centre ecosystems.
Showcasing Innovation and Global Engagement
The FinTech World Cup – Sri Lanka Regional Competition featured a curated FinTech Innovation Showcase, highlighting global and regional innovators, including:
RealX, an India-based platform focused on fractional real estate investment and real-world asset (RWA) tokenisation
SUNTRUST Digital Innovations, delivering enterprise digital transformation solutions
NanoSoft Global, providing digital banking platforms for co-operative financial institutions
The programme was further strengthened by an international jury panel, who evaluated participating start-ups following the Sri Lanka competition, including:
Jochen Biedermann, Managing Director, World Alliance of International Financial Centers (WAIFC)
Takeshi Kito, Co-founder & CEO, GFTN Japan
Syed Musheer Ahmed, Founder & Managing Director, FinStep Asia
Nicholas Drury, Former Global Research Lead, IBM
Chia Hock Lai, Founding President, Singapore Fintech
A key highlight of the programme was a fireside chat titled “AI and the Transformation of Global Financial Services,” featuring Lakshitha Jayaweera, Vice President at Citi. The session explored the role of artificial intelligence in financial institutions—including innovation, risk management, and the evolving global financial landscape—bringing a strong institutional perspective to the event.
Ecosystem Partnerships and Strategic Alignment
The programme was supported by a strong network of local and international ecosystem partners, including the Sri Lanka Group of Tech London Advocates and Global Tech Advocates, the Sri Lanka Chapter of the Global Academy of Finance and Management (GAFM), and the Asian FinTech Academy (AFTA)—organiser of the Asian Digital Finance Forum & Awards and an Association Partner of the Dubai FinTech Summit.
Representing the Strategic Partner, Bai Xiaping, Assistant Managing Director of CHEC Port City Colombo (Pvt) Ltd., noted:
“Hosting the FinTech World Cup at Port City Colombo reflects our commitment to creating a globally connected platform for innovation and investment. It has brought together talent, ideas, and partnerships that can shape the future of financial services, while reinforcing our role in enabling an ecosystem where global collaboration can thrive.”
In addition, Wall Street Fintech AI Inc. participated as a Strategic Knowledge Partner, contributing global insights at the intersection of artificial intelligence, portfolio intelligence, and next-generation financial systems.
Positioning Colombo in a Global Fintech Corridor
Together, these initiatives position Colombo within a broader Dubai–Singapore–Colombo fintech corridor, linking innovation, capital, and market access across three dynamic regions.
By strengthening cross-border collaboration and institutional connectivity, FASL continues to advance Colombo’s trajectory as an emerging fintech and financial services hub serving South Asia and beyond.
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