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Yangon, 31 July, 2020
BC Finance Limited (BCF), one of Myanmar’s leading microfinance institutions (MFIs), has recently gone live with the Musoni core banking system, giving the Company the platform to further digitalise its operations. The project was managed by ThitsaWorks, the leading financial technology solutions provider in the country, and Musoni’s partner since 2017.
BCF is a local microfinance institution that started operations in 2013. BCF now serves over 25,000 end customers across eight states, offering a variety of savings and loan products. Following the launch of Musoni’s core banking system, BCF now 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 is the leading microfinance solutions provider in Myanmar, used by 14 different organisations. The system has been translated into Myanmar language and includes all FRD regulatory reports as standard. Training and support are provided in local language by the ThitsaWorks team during Myanmar working hours.
Mr. Gerard Byrne, BCF’s CEO, commented “We are excited to team up with Musoni and ThitsaWorks. We have witnessed their strong contributions to power financial inclusion in Myanmar, and I am confident that this partnership will enable us to better serve our clients all over Myanmar and provide them with easy access to capital, accelerating the economic development of women, who are our major clients, and bringing increased well-being to households.”
Mr. Cameron Goldie-Scot, Musoni’s CEO, said “We are excited to have been selected as the digitalisation partner to BCF. They’re a fantastic team with a true commitment to improving access to financial services. We are looking forward to a long and successful partnership in the years ahead as they use Musoni to expand outreach and offer new products and channels to their customers.
U Nyi Nyein Aye, ThitsaWorks’ CEO, added “We are delighted to partner with BCF in Myanmar. We share a common goal: powering financial inclusion through opening access to capital. BCF understands that developing sustainably means developing inclusively, which is our social mission as well. We are glad to work with BCF in helping small businesses grow in the right way.”
About BC Finance Limited (BCF) - BC Finance Limited (BCF) is a local licensed microfinance institution, established by Hong Kong private equity firm, Bagan Capital. Founded in 2013, BCF currently supports clients nationally throughout 8 states and regions of Myanmar: Yangon, Mandalay, Shan, Magway, Sagaing, Bago, Mon and Thanintharyi, where around half of the country’s population lives, and continues to grow its operations. As a leading and sustainable provider of microfinance to those currently underserved, BCF provides tools for people to improve their lives and contribute to the development of the country, by lending to individuals, micro and small enterprises. BCF is committed to women empowerment and environmental sustainability.
Visit BC Finance at https://bcfmyanmar.com.
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 http://musonisystem.com.
About ThitsaWorks - ThitsaWorks is a Myanmar financial technology company based in Yangon. Founded in 2016, ThitsaWorks provides financial technology solutions for Microfinance institutions to run effective operations. ThitsaWorks works with large and small MFIs in Myanmar to help them enable better management and minimize risks, thereby attracting more customers and powering financial inclusion in the country. Led by a team of IT professionals, the ThitsaWorks team has years of experience managing mission critical IT enterprise systems globally. ThitsaWorks is Musoni’s official partner in Myanmar.
Visit ThitsaWorks at https://www.thitsaworks.com.
For more information about Musoni, please contact info@thitsaworks.com.
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