ThitsaWorks and VisionFund Myanmar Collaborate for Credit Scoring Model Development
We are pleased to announce the signing of a Memorandum of Understanding between VisionFund Myanmar and ThitsaWorks, as part of a collaboration aimed at facilitating VisionFund Myanmar's digital transformation efforts towards the development of a credit scoring model. ThitsaWorks will assist the VisionFund Myanmar team in gathering the necessary data to construct a model that will produce credit scores for loan applicants. This will enable VisionFund Myanmar to evaluate credit risk levels, set appropriate credit limits, and make informed decisions about extending loans to customers.
Credit scoring is a crucial component of microfinance institutions, as it enables them to provide more loans to individuals who may not have access to traditional banking services, expand their customer base, and maintain financial stability. We are delighted to contribute to VisionFund Myanmar's objective of promoting financial inclusion in Myanmar. Our joint mission is to provide more opportunities for individuals and businesses to access the credit they need to thrive and prosper.