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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.”
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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.
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