ThitsaWorks Hosts Fintech Workshop for Myanmar

The following is a guest post from May Thu Myint, Communications Officer of ThitsaWorks, Inc. I had the pleasure of attending and speaking at their workshop which was attended by more than 160 individuals and 17 different media outlets!

17309978_1371670912896893_1309026475237797956_o

On Monday March 13, ThitsaWorks held an event in Yangon titled ‘Fintech for Myanmar’s Financial Sector: How to Grow and Manage Risk in Microfinance by Leveraging Technologies’. Held at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), the event was well attended and brought together people from the microfinance and banking sector of Myanmar, technology providers and media. The opening remarks were given by Dr. Maung Maung Lay, the vice-President of UMFCCI.

Then Nyi Nyein Aye, the CEO of ThitsaWorks, gave a presentation on ThitsaWorks, as well as the microfinance landscape in Myanmar. According to Nyi, with a high mobile penetration rate and 70% of population living in rural area in Myanmar, digital financial services are key to financial inclusion. The estimates show that the demand for credit is four times that of current supply and there is a huge potential for MFIs to grow.

17310260_1371672076230110_7110503047850020592_o

 

Ed Cable, the President and CEO of Mifos Initiative USA, gave the keynote presentation which was well received. Ed highlighted the evolution of Mifos and how digital financial services can increase financial inclusion. The examples of how others have successfully deployed Mifos in other countries was very useful for the audience who are still new to Mifos.
17350035_1371670576230260_7920044537590127212_o

Following the presentations was a panel hosted by Thaung Su Nyein, CEO of Information Matrix. Members of the panel included Ko Ko Maung, Director, Financial Regulatory Department (FRD), Ministry of Planning and Finance (MOPF); Thiri Thant Mon, Managing Director, Sandanila Co.,Ltd; Ye Min Oo, Banking Consultant; and Bo Bo Wai Maung, Deputy Managing Director & Head of Corporate Banking, KBZ Bank. The panel members shared their expertise and their thoughts on the future of the financial sector in Myanmar and answered many questions asked by the attendees. The panel discussion was very interactive and informative.

17240468_1371675309563120_1486608291942507543_o

17311243_1371671186230199_6862333573443032702_o

The event concluded with Ed Cable and Nyi Nyein Aye officially launching Mifos’ Yangon chapter and invited those who are interested in ICT issues for MFIs to get involved with the chapter. The first event of the Yangon chapter will be held on May 2017.

17239929_1371670772896907_2213909938642646654_o


17218369_1371671126230205_2645278140555308551_o 17240008_1371674036229914_4988405208583806144_o 17192410_1371671169563534_2353358959538082451_o 17311047_1371737712890213_3119784845913521611_o

ThitsaWorks would like to sincerely thank Ed Cable and Mifos community, members of the UMFCCI, members of the panel and all the attendees for their support and participation in making this event successful. A high level of attendance from MFIs, Banks, technology solution providers and media is an evidence that there is indeed a high interest in utilizing MIS solutions like Mifos for MFIs in Myanmar. With the support of Mifos, ThitsaWorks is happy to be in a position to help with this transition.

 

 

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

4 + 5 =