Updated: Jul 11, 2018
Microfinance institutions in Myanmar can use technology to grow rapidly, launch new services, and improve the experiences of their customers. This was one of the points made at the “Future of Technology in Microfinance” dinner in Yangon earlier this week.
The networking dinner was hosted by Musoni, the multi-award winning core banking system, and ThitsaWorks, Myanmar’s leading financial solutions provider. The evening was a celebration of the partnership between the two companies, with ThitsaWorks providing local support and expertise in Myanmar and Musoni providing its world-class international system. Speaking at the event, Cameron Goldie-Scot, Musoni’s CEO, explained how Musoni helps organisations to go cashless, paperless and data-driven. As Musoni is cloud bases, organisations can view all branch data in real time, making it easier than ever to manage the portfolio and reduce risk.
Over the course of the evening, CEOs and senior management teams of the leading microfinance institutions in Myanmar learnt how to leverage technology to improve efficiency and reduce costs. There was a demonstration of the different modules provided by Musoni, including its SMS module, loan officer application, mobile money integration and client mobile banking app. ThitsaWorks also demonstrated their financial chatbot and data intelligence tools.
Nyi Nyein Aye, ThitsaWorks’s CEO, explained that Musoni was already used by multiple microfinance organisations in Myanmar, and had shown the power that technology can bring in helping each organisation grow rapidly. To help Myanmar organisations even more, the system has already been translated into Myanmar language, and includes all FRD reports as standard.
Importantly, the dinner was an opportunity for the participants to network with industry leaders, microfinance investors, tech providers and the Myanmar Microfinance Association. One of the main themes of the evening was the importance of working together in partnerships, and it was great to see so many follow-up meetings arranged between the attendees to share experiences and challenges.
Musoni and ThitsaWorks plan to host similar networking dinners on a quarterly basis. Anyone interested in attending should contact ThitsaWorks on +95-9978669442 or firstname.lastname@example.org.