{"id":15365,"date":"2025-06-13T13:39:43","date_gmt":"2025-06-13T13:39:43","guid":{"rendered":"https:\/\/www.gsma.com\/solutions-and-impact\/industries\/connected-fintech\/?post_type=gsma_theme_resources&p=15365"},"modified":"2025-06-13T14:40:53","modified_gmt":"2025-06-13T14:40:53","slug":"exploring-the-future-of-fraud-prevention-in-sri-lanka","status":"publish","type":"gsma_theme_resources","link":"https:\/\/www.gsma.com\/solutions-and-impact\/industries\/connected-fintech\/gsma_resources\/exploring-the-future-of-fraud-prevention-in-sri-lanka\/","title":{"rendered":"Exploring the Future of Fraud Prevention in Sri Lanka"},"content":{"rendered":"

On June 4th, the Sri Lanka Banks\u2019 Association and GSMA hosted a groundbreaking X-industry workshop aimed at exploring how Open Gateway Network APIs can help combat fraud in Sri Lanka. This collaborative event brought together banks and Mobile Network Operators (MNOs) to discuss innovative solutions for enhancing security in the financial sector.<\/p>\n

Held in conjunction with Lankapay, the national payment network, the workshop took place at the prestigious Centre for Banking Studies of the Sri Lanka Central Bank. The event saw participation from mobile operators such as Dialog Axiata, SLT Mobitel, and Hutch, along with the Central Bank and 24 other banks.<\/p>\n

Brian Gorman, Technical Director – Fintech and Commerce at GSMA, emphasised the importance of collaboration between the banking industry and other sectors. He explained, \u201cThe approach of creating collaboration with the banking industry is a model we have developed in a number of countries now and is designed to enable a deep understanding of bespoke needs and create the right solutions. This includes the standard Open Gateway APIs as well as new solutions we hadn\u2019t identified that particular banking community needed. This was how the Scam Signal API was created in conjunction with UK Finance and the UK banks.\u201d<\/p>\n

The workshop, attended by over 50 participants, received strong support from key stakeholders in the banking community. The Central Bank of Sri Lanka, which leads the country\u2019s overall program to fight banking fraud and scams, was also a key participant.<\/p>\n

Building on their initial collaboration with the launch of Number Verify, Dialog, Hutch, and SLT Mobitel presented a detailed paper on the Open Gateway standard APIs. This presentation led to an interactive session with banking colleagues who were keen to explore the solutions further.<\/p>\n

Sri Lanka is at the beginning of its journey in using APIs to fight fraud. The X-industry workshop provided an opportunity to educate key stakeholders on how the Open Gateway APIs work and the various use cases they can support. By fostering deeper collaboration, the goal is to create momentum behind better understanding customer needs and identifying if new solutions are required.<\/p>\n

A collaboration model is now being confirmed to build on the interest generated from the workshop, aiming to create a safer digital experience for consumers in Sri Lanka. This initiative marks a significant step forward in the fight against fraud and the enhancement of security in the financial sector.<\/p>\n\n\n

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