Hayman Capital uses Musoni to improve the lives of the poor in rural Myanmar

By October 22, 2015Client Profile

Continuing our series of blog posts highlighting the great work of organisations using the Musoni System, our focus this time is on Hayman Capital a microfinance institution in Myanmar, and a subsidiary of Hayman Capital Pte, a Singapore based investment company providing a wide range of financial solutions to fast growing companies in Asia. Hayman Capital is our first MFI in Asia and we are very proud of their success so far. Hayman Capital was founded in June 2015 with the goal of reducing poverty and improving the livelihoods of vulnerable groups in Myanmar through various social programs that develop a culture of saving and financial management.

As a new organisation, Hayman Capital needed a robust platform that could be set up quickly and easily, reducing their time to market. As a cloud based system built on microfinance best practice workflows, Musoni was the perfect fit. Since launching Hayman Capital has grown to serve over 35,000 customers in the Yangon and Bago regions of Myanmar. They are licensed to operate in 30 townships in these regions, and have opened five branches (Insein, ThinGanGyun, Hlegu townships and Bago city.) where they provide simple financial products to the poor and vulnerable groups, utilizing technology wherever possible.

Without the Musoni system it would have been difficult to reach these results.

Janibyek Makhsat, Deputy Managing Director & COO Hayman Capital

In just two years after launching, Hayman Capital has grown remarkably, having disbursed over 50,000 loans with an outstanding portfolio of over 7 billion Myanmar Kyats. Speaking about their rapid growth, Deputy MD & COO Janibyek Makhsat said “It is an amazing growth for us. We’ve accomplished this in less than three months. I think without the Musoni system it would have been difficult to reach these results. The Musoni System is really good for lending operations because it has very simple steps starting from client registration to disbursement.

There is no slowing down for this dynamic organization. Hayman capital plans to open more branches in rural areas as the Musoni System is cloud-based, designed to work in areas with limited connectivity. Moving forward, Hayman Capital is determined to reach clients in far-flung areas who otherwise would not have access to financial services. One of the ways they will be able to do this is by taking advantage of the Musoni app – where field officers will go to rural areas (with no internet connectivity) and register clients & groups, completing the loan application process without customers visiting their branches (as shown in the picture below).

Cameron Goldie-Scot, Musoni’s CEO said “Musoni is perfect for any organisation looking for a best-practice core banking system without the headaches and costs that come with traditional hosted platforms. It’s an absolute privilege to support Hayman Capital’s growth and fantastic that through the use of the Musoni System they have already seen tangible benefits for their business. I am excited about the potential or our continued partnership over the coming years.”

Learn more about Hayman Capital from their website.