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CRIB's Annual CEOs Forum and Institutional Awards Ceremony 2025 Highlights Sri Lanka's Digital Economy Progress

Strategic Insights

— 1 min read

The Credit Information Bureau of Sri Lanka (CRIB) successfully concluded its Annual CEOs Forum and Institutional Awards Ceremony 2025, titled 'Data in Action - Change in Motion'. The forum brought together over 120 Chief Executive Officers and senior leadership from across the financial services spectrum, including banks, non-banking financial institutions (NBFIs), insurance providers, telecommunications companies, utility service providers, and other affiliated entities. The event showcased the pivotal role of data in advancing Sri Lanka's digital economy, with a focus on promoting a strong, data-driven credit ecosystem in the country.

Key Takeaways:

  • The forum presented CRIB's Institutional Awards to recognize outstanding institutional performance in areas such as data governance, data submission, regulatory compliance, and security.
  • CRIB aims to encourage best practices across the financial sector and promote a data-driven credit ecosystem in Sri Lanka, with a focus on secure, accurate, and well-governed credit information.
  • The event highlighted the expanding scope of both traditional and alternative data sources, and their potential to be integrated into credit underwriting frameworks to facilitate financial inclusion.
  • The discussions underscored the importance of integrating emerging technologies such as artificial intelligence, machine learning, and big data analytics into credit risk modelling.
  • CRIB has more than doubled its database within the last six to eight months, onboarding all credit-related data, including gold loans, pawning, margin trading, and factoring.
  • The bureau has built comprehensive credit profiles for citizens over 18 years of age who are economically active, enhancing access to formal credit from registered financial and banking institutions.
  • CRIB has also launched two powerful business analytics products: 'Monitoring and alerts' and 'Credit stat', which provide institutions with real-time insights and support data-driven decision making.

Statistics:

  • Over 120 Chief Executive Officers and senior leadership from across the financial services spectrum attended the forum.
  • CRIB has more than doubled its database within the last six to eight months.
  • The bureau has issued over twice the number of self-inquiry reports (MyReport) within a period of 12 months, demonstrating growing public awareness of credit literacy and personal finance.
  • CRIB has launched two powerful business analytics products: 'Monitoring and alerts' and 'Credit stat'.

Sources:

  • The Credit Information Bureau of Sri Lanka (CRIB)
  • CRIB Sri Lanka Director/General Manager Pushpike Jayasundera
  • Central Bank of Sri Lanka Governor Dr. Nandalal Weerasinghe

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