Micro-Finance Tech : Fin Tech For Myanmar’s Financial Sector
In order to access better financial technology tools services in Myanmar, TitsaWorks launched financial technology services in cooperation with Mifos initiative in Yangon, Monday.
There are over 168 licensed microfinance institutions in Myanmar, but many of them are small operations. Thitsar Works provides technology solutions for microfinance institutions in Myanmar.
Managing Director , ThitsaWork, Inc., Nyi Nyein Aye: As our company is to provide service technology for the microfinance solution. Most of the microfinance licensed industry hasn't been used technology. By using technology, it can save time and solve any problem of microfinance process. We also share our system to the concerned ministries and private sectors.
Mifos Initiative is providing the financial services technology in 37 different countries around the world, and 300 different financial institutions.
CEO, The Mifos Initiative , Edward Cable : “I think we have a great opportunity to help widespread of adoption of our software here since market is going right now since there such high smart phone penetration, I believe otherwise. I think that Thitsar work was building in the open soft platform. We got to have the solution for the low cost and can provide what many of the institution need here to keep paid with Technology available.”
So far, 107 is local microfinance solution and 28 are from international microfinance solution as well as other microfinance solutions are joint ventures, INGOs and NGOs in Myanmar.