The partnership will work towards the goal to increase formal financial inclusion in Myanmar to 60% by 2022.
Software Group, a global technology company with offices in the APAC region, and ThitsaWorks Solutions, a technology solutions provider in Myanmar, are teaming up to accelerate financial inclusion in the region.
The partnership will support the financial inclusion roadmap that will be launched by the Myanmar government and aims to increase formal financial inclusion to 60% by 2022. The roadmap will be implemented on a macro level and will include improving financial access, usage and quality of financial services for all.
Software Group and ThitsaWorks will join forces to help large Microfinance institutions address the evolving customer needs for convenient financial services. Software Group provides solutions built on an Enterprise Digital Banking Platform, DigiWave, that enable quick, digital service at the customer’s doorstep. Together with ThitsaWorks, the partnership will address MFIs looking for highly configurable systems and capability to adjust workflows for increasing their outreach and improving efficiency. Currently, Software Group works on projects with two other financial institutions in Myanmar - Fullerton Finance Myanmar and Early Dawn Microfinance.
“We are proud to team up with ThitsaWorks in reaching the financial inclusion segment in Myanmar. Combining their local expertise and market knowledge with Software Group’s global experience and innovative solutions in the financial sector, we are convinced that we will impact the business of many organizations and support them to successfully go through their digital transformation journey,” commented Alison Grün, APAC Regional Director at Software Group.
“We are excited about the potential of Myanmar’s financial sector driven by the growth in financial inclusion and we are thrilled to partner with Software Group to help Microfinance institutions with their digital transformations. The suite of digital financial solutions provided by Software Group could be a game-changer for MFIs who are looking to differentiate themselves and we would love to help MFIs grow,” said Nyi Nyein Aye, CEO of ThitsaWorks.
About Software Group
Software Group is a global technology company specialized in digitalization and integration solutions for institutions that provide financial services. Founded in 2009 and headquartered in Sofia, Bulgaria, it currently serves a worldwide client base with over 65 countries from 9 regional offices located in Australia, Bulgaria, Egypt, Ghana, India, Kenya, Mexico, the Philippines and the USA. The company’s vision is to accelerate financial inclusion by creating cutting-edge technology solutions. Some of Software Group’s customers are organizations such as the Bill & Melinda Gates Foundation, MasterCard & MasterCard Foundation, International Finance Corporation (IFC), World Bank, Asia Development Bank, 7 of the 10 biggest Microfinance networks, Asia Confederation of Credit Unions (ACCU), Allianz Bank Bulgaria, Atlantic Bank, Bank South Pacific, Commercial International Bank Egypt, and others. Visit Software Group at: https://www.softwaregroup.com.
ThitsaWorks is a Myanmar financial technology company based in Yangon. Founded in 2016, ThitsaWorks provides financial technology solutions for Microfinance Institutions to run effective operations. ThitsaWorks works with large and small MFIs in Myanmar to help them better manage data to run more efficiently and minimize risks, thereby attracting more customers, furthering impact, and allowing for better policy decisions as well as growing more quickly and efficiently. ThitsaWorks’ solutions also help consumers get access to capital and make better credit decisions. The ThitsaWorks team has years of experience managing mission critical IT enterprise systems globally. Visit ThitsaWorks at: https://www.thitsaworks.com.