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ThitsaWorks Takes Mifos to Myanmar

The following is a guest post from May Thu Myint, Communications Officer of ThitsaWorks, Inc.

Hello Mifos community!

We’d like to take this moment to introduce ourselves. We are ThitsaWorks, the first Mifos partner to be based in Myanmar. We are delighted to be a part of this great community. We’d like to take this moment to tell you about what we’ve been up to lately.

October was a busy month for ThitsaWorks as we began meeting with various organizations to begin formally introducing ourselves to the MFI community here.

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We took a trip to Naypyitaw, the capital of Myanmar, to meet with various government officials within the finance sector. It was an opportunity for us to talk to them about how current technological developments could be of benefit to them. We also gave them a presentation on Mifos X and it’s features and how we believe that it can be beneficial to them. Our presentation was very warmly received, with many in the audience expressing openness to using an MIS that could help them to do their work more efficiently and accurately.

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We attended a seminar at the Union of Myanmar Federation of Chambers of Commerce and Industry. ‘Success Factors for Microfinance and Consumer Finance in Thailand’ featured representatives from the Bank of Ayudhya who shared their experiences on setting up their micro lending subsidiary in Thailand and their thoughts on fintech disruption. It was great opportunity for us to network and find new ideas to build on.

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We also met with various MFIs and financial institutions in Yangon who were very receptive to our proposals and also gave us insight on the needs of local MFIs and the difficulties they face. Many of them said that they had been considering implementing an MIS but issues like cost, training and lack of local technical support made them hesitant to go forward with it. Now with ThitsaWorks available to provide support locally every step of the way, they said they felt more comfortable making that leap towards implementing an MIS.

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We’re very happy with the progress we’ve made over these past few weeks and grateful for all the help we’ve received from Ed and Jacob and everyone else at Mifos. We’ll be sure to keep you updated on our future endeavors.

Who we are: ThitsaWorks provides financial technology solutions for microfinance institutions in Myanmar. As Mifos’ first ever partner in Myanmar, ThitsaWorks is dedicated to making basic financial services available to all and empowering people to rise out of poverty. We believe that technology a key tool in making this happen. By utilizing Mifos X, we can help MFIs in Myanmar grow and reach out to the unbanked population. We believe that financial inclusion can put an end to poverty.

 

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