DAWN is Teaming up with Software Group to Accelerate Financial Inclusion in Myanmar
Early Dawn Microfinance Company Limited (“DAWN”) is partnering with Software Group to provide efficient and affordable financial services to Myanmar’s underbanked. The institution will implement a Digital Field Application (DFA) solution to digitize field operations, streamline operational workflows, and improve client convenience.
DAWN, one of Myanmar’s largest microfinance institutions, operates across six regions of Myanmar to provide financial tools and education to its mostly-women client base of more than 200,000 micro, small and medium business owners. The institution’s loan officers, who play a major role in reaching the financially excluded, currently face challenges in efficiently servicing clients due to paper-based field processes and back-and-forth branch visits.
With the adoption of the Digital Field Application (DFA) solution by Software Group, DAWN staff will have more time to spend in the field, supporting micro-entrepreneurs and small and medium business owners across Myanmar, boosting sustainable growth in low-income communities.
Software Group’s DFA will empower DAWN’s loan officers with a mobile application that runs on Android tablet devices, and operates bilingually in Myanmar and English. Client onboarding, loan application registration, loan repayments, and other value-added services will be digitized and performed completely remote from the branch, even in areas with no connectivity. Through digitalization and automation DAWN expects to improve process efficiency and thereby significantly reduce loan turnaround times.
All data captured in the field, including client photos and KYC documents, will be securely and seamlessly synchronized with DAWN’s centralized Kredits Core Banking System. The DFA’s web interface will provide Branch and HQ staff with access to the loan application and related data in the form of streamlined workflows to support the loan origination process.
“DAWN is committed to leveraging technology and transformative digital solutions, in order to be a relevant digital financial services provider in Myanmar. The DFA Project will allow us to scale our operations and outreach, and deliver high-quality financial services to more of the underserved,” says Mr. Gonzalo Gonzalez, CEO at DAWN. “Working with Software Group to implement the DFA Project will not only improve our internal processes and productivity, it will also improve our staff and client experience.”
Early Dawn Microfinance Company Limited (“DAWN”) was founded in 2002 as a program under Save the Children International. In 2015, it became an independent company with three main shareholders: Accion International, Triodos Investment Management and FMO (the Dutch development bank). Since then it has rapidly grown into a leading microfinance institution supporting micro and small enterprises in Myanmar. DAWN serves over 200,000 clients and has an outstanding loan portfolio over 54 billion MMK (as of March 2019). DAWN is registered with the Ministry of Finance & Planning and operates with a deposit-taking license granted by the Financial Regulatory Department (“FRD”).
About Software Group
Software Group is a global technology company specialized in digitalization and integration solutions for institutions that provide financial services. Founded in 2009 and headquartered in Sofia, Bulgaria, it currently serves a worldwide client base in more than 65 countries from 9 regional offices located in Australia, Bulgaria, Egypt, Ghana, India, Kenya, Mexico, the Philippines and the USA. The company’s vision is to accelerate financial inclusion by creating cutting-edge technology solutions. Some of Software Group’s customers are organizations such as Bill & Melinda Gates Foundation, MasterCard & MasterCard Foundation, International Finance Corporation (IFC), World Bank, Asia Development Bank, 7 of the 10 biggest microfinancing networks in the world, Allianz Bank Bulgaria, Atlantic Bank, Bank South Pacific, Asia Confederation of Credit Unions (ACCU) and others. Visit us at: www.softwaregroup.com