Hayman Microfinance

Hayman Microfinance leveraged Musoni to grow rapidly and digitalise their operations.

Background

Hayman Microfinance (Hayman) have been Musoni’s partner since 2015. As a greenfield 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. Adopting a cloud-based system made it easier for Hayman to focus on growing their operations, avoid upfront infrastructure costs, and avoid worrying about storage, server maintenance or backups. 

Rapid Growth

Since launching, Hayman Microfinance have grown rapidly, doubling both their client numbers and total portfolio size every year. They currently serve over 150,000 end customers and are one of the largest MFIs in the country. 

As a result of this rapid growth, in 2020 Hayman was recognised as the fastest growing MFI in Myanmar in the prestigious “Global Banking & Finance Awards.”

Without Musoni it would have been difficult to get these results. The system is user friendly for the operations teams, and robust enough to support our growth. The Musoni team takes a hands-on approach and is helping us take the next steps in our digitalisation journey.

Siegfried Kofi Gbadago, CFO

Benefits of Musoni

In a recent interview with Musoni, Siegfried Kofi Gbadago (CFO)  explained how they had achieved this growth: “Musoni has given us one source of truth for all client and account information. Since we launched, we have expanded our branch network and now have 23 branches fully functional. All using Musoni.”  

By using Musoni the operations team have been able to easily understand and grow their portfolio, performing credit checks on new loan applications while using the reporting module to keep track of payments and portfolio quality. Musoni includes a full accounting module, making it easy for the finance team to prepare their monthly reports. End customers receive notifications and updates from Hayman through the Musoni SMS module. 

What's Next?

This is just the start of the ongoing digitalisation. Hayman Microfinance would now like reduce the number of paper-based processes and digitalise their loan operations. As a result, they are launching the Musoni Digital Field Application (DFA), in close collaboration with the Musoni implementation team.

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