COVID-19 and Our Digital Solutions
COVID-19 has made every individual cope with the new normal lifestyle, also in doing business. The global pandemic leads each sector to forward digital transformation. ThitsaWorks, a leading FinTech solutions provider in Myanmar, has been assisting for the MFIs, banks, small businesses and government to operate efficiently since 2016. Our solutions are here to help our customers navigate the new normal efficiently and effectively.
Why Moving forward to Digitalization?
One significant aspect of this change is that most organizations have realized the importance of digital transformation and have started to mobilize resources to implement such projects. COVID-19 also amplifies existing vulnerabilities in the financial sector. Virtually implicit support is much needed for low-income families to continue their livings. Digital transformation is the most important demand to provide services to them, to mitigate risks, and to run effective operations.
Our Customers' Needs in New Normal
Digital Access to Credit
Access to everyone in a short time
Our Digital Solutions
With the partnership with MMFA, ThitsaWorks is now implementing a data sharing platform, MCIX, for MFIs to share and exchange basic credit information of micro-borrowers among MFIs to manage credit risks and to gain financial intelligence while protecting them from becoming over-indebted.
Our interactive financial inclusion chatbot, Pite Pite, shares financial and digital literacy in Myanmar and English. It also provides users with access to MFIs and financial information, bringing financial inclusion to every invividual. Pite Pite is integrated on Social platforms, Facebook and Viber.
Our multi award-winning core banking system helps MFIs better manage and understand their data, thereby allowing for better policy decisions, and growing more quickly and efficiently. Their solutions help consumers get access to capital and make better credit decisions.
In Times of Challenge, Our Customers Trust ThitsaWorks
We are now working with 46 MFIs serving 2.5 million end customers.
1 out of 10 microfinance borrowers are serviced by MFIs using our technology;
2 out of 4 microfinance borrowers are reported on credit data exchange managed by us;1 out of 10 Internet users see digital financial literacy contents provided by us.
TRUE PASSION TO BRING DIGITAL TRANSFORMATION
ROBUST AND FLEXIBLE SOLUTIONS BUILT ON A SINGLE PLATFORM
INTERNATIONAL KNOWLEDGE WITH LOCALLY QUALIFIED CONTEXTS
LEADING FINTECH COMPANY IN MYANMAR
We are a team of professionals to solve poverty in Myanmar.
News & Resources
Source; 7Day News
In an effort to meet the current exigencies faced by Myanmar as a result of the COVID-19 pandemic, the Myanmar Government launched the COVID-19 Economic Relief Plan (CERP). The CERP comprises seven goals, 10 strategies, 36 action plans and 76 actions, each with an estimated timeline and designated authority in charge, covering a range of fiscal and social measures.
Source; 7Day News
Does CERP loan make small businesses relieved?
This loan provision by the government marked the first time of government’s assistance to microfinances which play crucial role in supporting financial sector of low-income families in this time of COVID-19 period.
Source; SME Development Department, MOPFI
The government has made a plan to provide loans to small business such as tea-shops and restaurants with the interest rate of 2%. They have to apply for loans through the respective microfinances in their townships. The article makes a list of microfinances which offer loans.
Source; 7Day News
Provision of Agricultural Loans
The government of Myanmar has announced its intention to provide special agricultural loans to mitigate COVID-19 impacts. They will provide loans worth 50,000 Kyats for an acre. The loans will be distributed from June to September, and the interest rate costs 5%.