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Yangon, 17 August 2022 2022 has been a busy year for the Loan Officers in Proximity Finance. On top of managing their daily operations, from January to April 2022, all the Loan Officers in the Proximity Finance enrolled in the Digital Financial Literacy (DFL) Training of Trainers (TOT) program conducted by ThitsaWorks. By May 2022, these Loan Officers have trained over 10,000 borrowers on how to use digital financial services and tools safely. Proximity Finance aims to train minimum 75% of its borrowers with basic digital financial literacy skills by the end of September 2022. In partnership with ModusBox and ONOW, ThitsaWorks has been providing Digital Financial Literacy (DFL) training program for microfinance institutions’ staff and their existing borrowers as a part of the Ready Set Go Digital (RSG) Project. This project aims to enhance the DFL knowledge among microfinance institutions (MFIs) and their clients – mostly women-operated micro/small/medium enterprises, and help them safely adopt digital financial services. With the support of USAID's Digital Asia Accelerator initiative, the program started in December 2021 and will run until September 2022. As of August 2022, ThitsaWorks has conducted 72 training sessions and provided DFL training to 2,627 staff from 12 MFI partners. Dr. Pyae Phyo Lwin, Chief Operating Officer of ThitsaWorks, commented “We are grateful for the enthusiasm and active cooperation of Proximity Finance. Digital knowledge is very crucial in the digital transformation journey. Without digital literacy, it is very risky for digital safety, not just for finance, but in our daily lives as well. In DFL training, we cover the awareness of digital security especially in using digital applications for financial transactions. We look forward to working with Proximity Finance in the future to bring benefits to the community.” U Soe Htike Lwin, Head of Business Operations of Proximity Finance, said “Due to its simplicity, the DFL foundation is disregarded in our community; however, it is a must-have knowledge, particularly in this digital transformation era. Not only the financial literacy but also the digital literacy rate in Myanmar is unsatisfactory. With the DFL knowledge along with the TOT training, I believe our loan officers can also help to promote valuable knowledge in our society by improving digital safety and financial inclusion. Last but not least, we are delighted to partner with ThitsaWorks in disseminating DFL knowledge to our loan officers and clients.” Throughout the TOT Program, ThitsaWorks collaborated with Proximity Finance Team closely to monitor the efficiency and relevance of the training program for its clients. ThitsaWorks Team is thankful for the enthusiasm and active cooperation of the Proximity Finance Team and looks forward to working with Proximity Finance in the future to help communities in Myanmar become more financially literate. About Proximity Finance – Proximity Finance Microfinance Company Limited, Myanmar's first farmer-focused financial institution, was founded in 2010 by Proximity Designs. For small family farms all around Myanmar, Proximity Designs is one of the leading platforms for agricultural services. It offers a combination of farm technology, advice, and financial services and helps more than 190,000 smallholder farmers and their families through 27 branches in 9 of Myanmar's 14 states and regions. Visit Proximity Finance at https://proximitydesigns.org About ThitsaWorks – Founded in 2016, ThitsaWorks provides financial technology solutions for Microfinance and non-bank financial institutions to run effective operations. ThitsaWorks helps financial institutions to digitize their operations and to manage risks, thereby attracting more customers and powering financial inclusion in the country. Visit ThitsaWorks at https://www.thitsaworks.com/ For more information about the Digital Financial Literacy Program, please contact info@thitsaworks.com.

Hi peeps! ThitsaWorks Monthly Newsletter for August is out now. This month, we shared our activities and product and project updates. We have also included global fintech news and articles. Check out our newsletter here and don't forget to click the subscribe button: https://bit.ly/3N9WFNI

Hi peeps! ThitsaWorks Monthly Newsletter for July is out now. This month, we shared our activities and product and project updates. We have also included global fintech news and articles. Check out our newsletter here and don't forget to click the subscribe button: https://bit.ly/3N9WFNI

Hi peeps! ThitsaWorks Monthly Newsletter for June is out now. This month, we shared our activities and product and project updates. We have also included global fintech news and articles. Check out our newsletter here and don't forget to click the subscribe button: https://bit.ly/3N9WFNI

Updated: Nov 7, 2022 Yangon, 11 May 2022 At the invitation of the Mojaloop Foundation, the ThitsaWorks Team attended the Convening of development, community members, and partners of the Mojaloop project in Tanzania on April 25-28, 2022. The objective of the event was to convene key stakeholders to have focused sessions covering some of the critical areas of Mojaloop including deployment, performance, and implementation updates. This is the first in-person community meeting since January 2020, and it was a wonderful opportunity for the community members to build new and foster existing partnerships. Mojaloop Foundation is a charitable nonprofit organization with a mission to increase financial inclusion by empowering organizations create interoperable payment systems to enable digital financial services for all. Its members include the Bill & Melinda Gates Foundation, Google, the Monetary Authority of Singapore, Ripple, The Rockefeller Foundation, ModusBox, and Coil. The Mojaloop technology will be used to power the Mojaloop Hub which is the key component of the ecosystem to connect multiple Digital Financial Services Provides (DFSPs) into a competitive and interoperable network in order to maximize opportunities for people to get access to financial services. The ThitsaWorks Team, led by Nyi Nyein Aye, Thynn Win, and Dr. Pyae Phyo Lwin, shared Mojaloop deployment experience in Myanmar. On the first day of the event, Nyi and Steve Haley from Mojaloop Foundation shared a presentation on “the Mojaloop Business Model; Setting up a scheme that matches all stakeholders' business models: hard lessons from Myanmar”. Interim Governance of Mojaloop Myanmar, WynePay Platform, path to sustainability, and challenges in implementing WynePay Platform were the highlighted topics. They discussed how WynePay can help to expand the digital payment ecosystem in Myanmar by connecting the dots, and shared challenges and considerations for other Hub Operators. On the third day of Convening, Thynn and Pyae presented the Hub Operator’s perspective on Mojaloop deployment experience in Myanmar. Thynn shared technical preparations, the status of various workstreams, and lessons learned. Pyae talked about the preparation for onboarding of DFSPs, Hub Operation Team’s preparation, lessons learned from the Friendly User Testing (FUT) exercise, and preparing for the next steps to become a more efficiently functioning platform. This event was an opportunity to exchange our knowledge and experience with partner organizations, FinTechs in the ecosystem, and Hub operators around the world. It was also good to see a group of students from a local university who are interested in learning about the technology and are seeking internship programs where they can learn it in a real-world setting. It was encouraging to see the younger generation’s passion and drive to build a better world. We made new friends and saw some old friends for the first time in person. Combining the learning and experiences with our social mission, we are thrilled and motivated to be a part of the vibrate community and renew our commitment to working towards solving poverty and powering financial inclusion using technology as a tool. Learn more about Mojaloop Foundation here: https://mojaloop.io/

Hi peeps! ThitsaWorks Monthly Newsletter for May is out now. This month, we shared our activities and product and project updates. We have also included global fintech news and articles. Check out our newsletter here and don't forget to click the subscribe button: https://bit.ly/3N9WFNI

Updated: Jul 4, 2022 Yangon, 29 Apr 2022 Zega Finance, a non-bank financial institution licensed by Central Bank of Myanmar, with aspiring plans to serve digital financial services and products to consumers in Myanmar, has chosen Re21 as its digital financial literacy knowledge sharing partner. Re21 Financial Mobile App is launched by ThitsaWorks, the leading microfinance financial technology solutions provider in the country. Zega provides consumer financing products such as hire-purchase, payday loans, and financial products with a focus on farming families over agriculturally significant rural areas. Re21 is not just an ordinary budget planner, but more like a financial coach who helps people form better financial habits so that they can have better financial resilience and also guides people to be able to stick to their budget and reach their financial goals. Re21 is brought to you by ThitsaWorks, with support from the German Sparkassenstiftung for international Cooperation (DSIK). The German Sparkassenstiftung for International Cooperation (DSIK) is the German development policy institution of the Sparkassen-Finanzgruppe. DSIK actively supports financial institutions that sustainably promote economic and social development through needs-based banking, with the aim of giving people in developing and emerging countries access to financial services and thus creating perspectives for a way out of poverty. Re21 offers a variety of useful features such as Expense, Income Tracker, and Planner which will allow you to track your spending habits and plan how much you will spend each month while Saving Goals will help you reach your financial goals. Coach feature will offer challenges for 21 days which will enhance your digital financial literacy knowledge. In Search, you can search for locations of financial services. Mr. Saw Dino Ku, CEO of Zega Finance, commented “We are delighted to partner with Re21. We are confident that our partnership will enable us to serve our clients all over Myanmar with digital financial services and products, help people form better financial habits so that they have better financial resilience.” Mr. Nyi Nyein Aye, CEO of ThitsaWorks, added “We are gratified to partner with Zega to help them with their digitization roadmap. I believe that the Re21 Financial Mobile App will help Zega implement effective and efficient communication with clients and knowing client’s financial behaviors & financial literacy will enable Loan Officers/Credit Officers to find potential clients & use Re21 as an alternative credit assessment tool. About Zega Finance – Zega is a non-bank financial institution licensed by Central Bank of Myanmar since 2017, working towards transcending Myanmar's financial system into an interconnected, digital one. About ThitsaWorks – Founded in 2016, ThitsaWorks provides financial technology solutions for Microfinance and non-bank financial institutions to run effective operations. ThitsaWorks help financial institutions better management and minimize risks, thereby attracting more customers and powering financial inclusion in the country. Visit ThitsaWorks at https://www.thitsaworks.com. For more information about Re21, please contact hello@re21.io

Hi peeps! ThitsaWorks Monthly Newsletter for April is out now. This month, we shared our activities and product and project updates. We have also included global fintech news and articles. Check out our newsletter here and don't forget to click the subscribe button: https://bit.ly/3N9WFNI

Updated: April 26, 2022 Yangon, 18 Jan 2022 Zega Finance, a financial institution with aspiring plans to serve digital financial services and products to consumers in Myanmar, has chosen Musoni as its core banking and digitalization partner. The project is managed by ThitsaWorks, the leading financial technology solution provider in the country for microfinance and non-bank financial institutions, and Musoni’s partner since 2017. Zega provides consumer financing products such as hire purchase, payday loans and financial products with a focus on farming families over agriculturally significant rural areas. Musoni System is best-in-class financial software platform built specifically for financial organisations to improve efficiency and better manage their operations. Zega aims to further improve efficiency through the roll-out of the Musoni Digital Field Application, while also offering new communication channels to end customers with the Musoni mobile banking application. Musoni’s successful integration with the WynePay Platform in Myanmar which is built on the latest Mojaloop real-time payment switch technology is an example of Musoni’s readiness to support its financial institution partners with their digital transformation journey. Once WynePay is launched, it will be much easier for all financial institutions to connect to the digital payment ecosystem from any mobile wallet or bank account. Microfinance Institutions in Myanmar can also leverage Musoni’s integration with the Microfinance Credit Information Exchange (MCIX) to automate credit risk management workflows for their loan officers using data from. MFIs are able to build custom credit checks that utilize data from MCIX based on their own business rules. Mr. Saw Dino Ku, CEO of Zega Finance, commented “We are excited to team up with Musoni and ThitsaWorks. We are confident that our partnership will enable us to serve our clients all over Myanmar with digital financial services and products.” Mr. Cameron Goldie-Scot, CEO of Musoni, said “We are thrilled to have been selected as the digitalisation partner to Zega. We are looking forward to a long and successful partnership in the years ahead as they use Musoni to grow and offer new products and channels to their customers.” Mr. Nyi Nyein Aye, CEO of ThitsaWorks, added “We are delighted to partner with Zega to help them with their digitization roadmap. I believe that the robust systems provided by Musoni will help Zega implement effective and efficient operations from Day 1.” ----- About Zega Finance – Zega is a financial institution working towards transcending Myanmar's financial system into an interconnected, digital one. About Musoni – Musoni is the leading digitalisation partner for microfinance institutions around the world. We help organisations improve their efficiency and extent their outreach through a variety of fintech solutions. These include a cloud banking system, digital field application, mobile payments module and client banking app. We have over a decade of experience and now support 75 organisations in 15 different countries. We take pride in our hands-on and personalised approach, with local teams in the Netherlands, Kenya and Myanmar. Visit Musoni at https://musonisystem.com. About ThitsaWorks –Founded in 2016, ThitsaWorks provides financial technology solutions for Microfinance and non-bank financial institutions to run effective operations. ThitsaWorks help financial institutions better management and minimize risks, thereby attracting more customers and powering financial inclusion in the country. Visit ThitsaWorks at https://www.thitsaworks.com. For more information about Musoni, please contact info@thitsaworks.com. *****

Updated: Apr 29, 2022 Yangon, January 11, 2022 The Myanmar population has been thinly-served by financial services till very recently. According to the Financial Inclusion Roadmap prepared as part of the Making Access Possible (MAP) Myanmar Programme 2018, mobilizing savings is a key pillar. Another study in 2017 on Myanmar Financial and Payment Attitudes by VISA shows that most Myanmar people describe themselves as only slightly or fairly knowledgeable about managing finances. Over half of the survey respondents do not track spending at all, while a third say they maintain a log to track their expenditure. Saving money has to become a habit, and taking the first step is always the hardest. For those who have never saved, it is vital to understand how a small reduction in present consumption can ensure that they have some money for future use on essentials. Financial service providers, institutions and organizations included in the ecosystem can play a major role in cultivating saving habits, educating digital financial literacy and spreading awareness. The German Sparkassenstiftung for International Cooperation (DSIK) and ThitsaWorks have partnered up to strengthen digital financial literacy of people in Myanmar and to encourage the utilization of mobile technology to take control of personal finance with the Re21 mobile application. Re21 is not just an ordinary budget planner. It acts as a financial coach who helps people form better financial habits so that they can have better financial resilience, stick to their budget and reach their financial goals. Users can use Re21 to track spending habits, plan how much to spend each month, and set saving goals. They can also use the coach feature to enhance their digital financial literacy by following the 21-day challenges. Users who are ready to take the next step can find MFIs easily. Antje Kinder, Country Representative/ Long Term Expert of DSIK, said “We are thrilled with the potential that Re21 mobile application brings to those who need access to financial services. We are excited to partner with ThitsaWorks whose mission is to improve the financial inclusion in Myanmar using digital financial services. We share a common goal.” Nyi Nyein Aye, CEO of ThitsaWorks, said “As much as the mobile is the catalyst for digital transformation, we hope that the Re21 mobile application will be the catalyst for the people of Myanmar to form better financial habits and become financially resilient. We are grateful for the cooperation with the Deutsche Sparkassenstiftung für internationale Kooperation (DSIK) whose support has been crucial in building this mobile application.” Digital technology helps boost financial inclusion and enables conditions that bring many of the United Nations Sustainable Development Goals (SDGs) within reach. We strongly believe that Re21 will help its users form better financial habits which in turn will contribute to SDGs with positive effects on marginalized groups. The Re21 mobile application is available on Google Play Store to download for Android version mobile phones. For more information about Re21, please contact hello@re21.io. ----- About DSIK The German Sparkassenstiftung for International Cooperation (DSIK) is the German development policy institution of the Sparkassen-Finanzgruppe. DSIK actively supports financial institutions that sustainably promote economic and social development through needs-based banking, with the aim of giving people in developing and emerging countries access to financial services and thus creating perspectives for a way out of poverty. About ThitsaWorks ThitsaWorks was founded with a belief that poverty can be solved; and that if the unbanked have access to capital, they’re more empowered, better able to retain the returns of their labor and rise out of poverty. ThitsaWorks uses technology as a tool to make that happen. ThitsaWorks is currently supporting 70 financial institutions to collect, manage and analyze data needed to run effective operations and to manage risks. *****

We are proud to be a part of Ready, Set, Go (RSG) – an education program with our partners, ONOW Myanmar, ModusBox and UNCDF. RSG is designed to deliver training through easily accessible platforms that are familiar throughout the microfinance industry. With support from USAID’s (U.S. Agency for International Development) Digital Asia Accelerator, microfinance institutions (MFIs) and their clients – mostly women-operated micro/small/medium enterprises – will receive training to safely adopt digital financial services. Learn more about our project here; https://modusbox.com/modusbox-thitsaworks-onow-myanmar-and-usaid-develop-digital-financial-services-education-platform-for-mfis-and-underserved-clients/ *****

We are so proud to share that ThitsaWorks was selected as one of the top 6 Microfinance Startups impacting the financial sector by the StartUs Insights. Out of 412 solutions, ThitsaWorks was listed in the 6 Top Microfinance Startups. StartUs Insights said that the companies were chosen based on a data-driven startup scouting approach, taking into account factors such as location, founding year, and technology among others. We are thrilled to be chosen and we will continue to make MFI Industry more efficient by our data driven solutions. Read more here: https://www.startus-insights.com/innovators-guide/6-top-microfinance-startups-impacting-the-financial-sector/