Development of a Digital Transformation Roadmap for the Loan Business Pillar of LB Finance PLC’s Sri Lankan Operation

Abstract

In today's rapidly changing technological landscape, businesses must adapt to evolving consumer expectations to remain relevant. This is especially true in the financial sector, where digital innovation and shifting consumer behavior demand strategic responses. LB Finance PLC, a leading player in Sri Lanka's financial sector, is at the forefront of this transformation, ready to embrace digitization in its loan business pillar. This thesis conducts a comprehensive examination to develop a tailored Digital Transformation Roadmap for LB Finance PLC's Sri Lankan operations. By aligning organizational objectives with the demands of the digital age, the research aims to enhance operational efficiency, improve customer experience, and drive sustainable growth and competitive advantage. Drawing on academic literature, industry best practices, and empirical research, the study explores various aspects of digital transformation within LB Finance PLC's loan business pillar. It analyzes the impact of technological innovation, organizational culture, regulatory compliance, and customer-centricity, providing actionable recommendations to maximize the benefits of digitalization while safeguarding institutional integrity and stakeholder interests. Through qualitative methodologies, the research validates proposed recommendations, enhancing the credibility and applicability of the Digital Transformation Roadmap within LB Finance PLC's operations. By promoting evidence-based decision-making and stakeholder collaboration, the thesis positions LB Finance PLC is a leader in the digital transformation landscape, setting new standards of excellence and innovation. The Digital Transformation Roadmap outlined in this research serves as a comprehensive blueprint for organizational renewal and growth. It addresses immediate digital transformation needs while fostering a culture of innovation and adaptability for long-term success. By engaging stakeholders and leveraging industry benchmarks, the roadmap provides specific steps and initiatives to enhance processes, improve customer experiences, and drive business growth within LB Finance PLC's loan business pillar. In conclusion, the research delivers a detailed transformation roadmap with priorities, project definitions, scope of work, implementation timelines, and project team structures. Additionally, it offers a customized digital transformation framework for sustained evolution in the digital landscape, enabling LB Finance PLC to navigate the complexities of digital transformation and thrive in an increasingly interconnected market place.