MFIs in Myanmar look to grow rapidly over the next year
Updated: Jun 21, 2018
Microfinance institutions in Myanmar are posed to grow rapidly over the next year as they respond to the demand for quality financial services from more than 80% of the unbanked population. To do this effectively microfinance institutions need reliable and robust systems, ensuring that they can minimise risk, improve efficiency and leverage the latest technology like mobile money and smartphone applications.
Many microfinance organisations in Myanmar are stuck using out-dated systems that make it harder for them leverage the latest technology or serve their clients effectively. By contrast, the Musoni System is a modern cloud-based system built specifically for microfinance.
Learn more about the Musoni System
Musoni enables MFIs to easily manage their clients, groups, savings and loans. Its user-friendly report builder ensures that everyone has the data they need at the click of a button. The system has been customised specifically for Myanmar, has been translated into Burmese and already includes all of the key regulatory reports required by the FRD.
In addition, Musoni has pioneered the use of new technology in microfinance, and as such is integrated with multiple mobile money transfer services, includes an SMS module for the sending of automated payment reminders, a tablet app that loan officers can use for offline data capture, a mobile banking app for clients and credit scoring to improve lending decisions.
High Quality local support
Equally important is the quality of local support. ThitsaWorks are the official partner of Musoni in Myanmar and provide local language support and training to all users of the system, ensuring that they’re making the most of the new functionality. Organisations already benefitting from this include Hayman Capital, now serving over 50,000 clients across five regions, and Mason Capital Microfinance who launched their operations recently with plans to expand actively in coming months.
The partnership with Musoni/ThitsaWorks helped the Mason begin its operations efficiently and effectively by providing its customers with digital financial services right from the start.
“We owed a lot to your teams. My team has just finished client data-entry with the full support from your on-line trainers, and we are able to start using the system within days”, said Mr. Hyun Il Cho, Managing Director of Mason Capital Microfinance.
For more information about Musoni, or to set up a free demo, please click on the button below.
About Musoni – Musoni is the company behind the award-winning SaaS banking software, the Musoni System, already used by over 100 organisations around the world. The software has been consistently proven to help financial organisations improve efficiency, reduce costs, and expand outreach into the rural areas where the majority of the unbanked live.
About ThitsaWorks – ThitsaWorks provides technology solutions for financial inclusion. Led by a team of IT professionals, the ThitsaWorks team has years of experience managing mission-critical IT enterprise systems globally. ThitsaWorks’s solutions power microfinance institutions with data and technology solutions to run effectively.