DIGITAL INNOVATION AND IMPLEMENTATION OF FINTECH ON BANKING AND FINANCIAL SECTOR IN SRI LANKA
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This research investigates the transformative impact of digital innovation through the implementation of Financial Technology (FinTech) on the Banking and Financial Sector in Sri Lanka. With a focus on the evolution of traditional financial services, the study explores the conceptual foundations of FinTech, its practical implementation, and the innovative advancements shaping the financial landscape. A comprehensive literature review contextualizes global and regional trends, identifying key insights and gaps in current research. The methodology employed combines qualitative and quantitative approaches to analyze the multifaceted dimensions of FinTech adoption in Sri Lanka. The discussion section interprets findings, examining the implications for financial institutions, consumers, and regulatory bodies. Additionally, the research scrutinizes the role of the Central Bank in fostering FinTech growth and evaluates the legal framework governing its implementation. The conclusions drawn from this research contribute valuable insights to the discourse on FinTech's role in driving digital innovation within Sri Lanka's Banking and Financial Sector, offering practical recommendations for industry stakeholders, policymakers, and future researchers.
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