Good Brothers’ Microfinance Myanmar

Good Brothers’ and Musoni System Impact

The Good Brothers’ Microfinance (GBS MFI) operations team has had more time to focus on field operations and less time on data reporting since onboarding onto the Musoni System. The loan officers can now easily analyze the loan performances in real time. In addition, the data, and reports from the Musoni System dashboard have helped GBS to make factual, informed, and real time business decisions. The management team can monitor the company’s performance and portfolio reports by region and branches unlike in the past.
In addition, Musoni’s customisable forms and features allow GBS MFI to swiftly integrate the crops and inputs information into the client’s loan database and make the collection monitoring process extremely efficient. The Musoni Core Banking System has made it possible to upload data and soft copy documents into the system which has tremendously helped reduce filing workload and document printing costs while the Musoni Open APIs have been crucial in bulk data entry and migration.

Case Study

GBS Myanmar using Musoni System

U Tun Tun Oo, 43 year old, who farms paddy in Kyaunggon Region, Ayeyarwady first partnered with GBS MFI in 2016 for 5 acres of land. “Contract Farming Service is an extremely important service for farmers. This is because farmers do not need to invest in any farm inputs, they only need to farm according to the contract farming guidelines. I have received a lot more benefits from GBS than I have received previously, and therefore I share this information with other farmers. In my village alone, 30 farmers who own 200 acres and above have come on board on the Contract Farming Program from GBS” he said.

GBS Operations in the COVID-19 Period

GBS MFI’s clients in the agriculture sector have remained resilient despite the economic impacts of the COVID-19 outbreaks and maintained steady transactions while keeping up with their loan repayment schedules. The economic challenges, country lockdown and changing client needs drove GBS MFI to think beyond their traditional collections model and explore safer and more efficient digital systems that would create a win-win scenario for both GBS MFI and their clients.

In just a short span of 12 months, GBS MFI has undergone massive transformation. Partnering with Musoni System has completely re-energised our operations and made them more efficient. Their Core Banking System has catapulted digital transformation in GBS where we have seen a dramatic increase in the speed of operations and products deployment. Our employees’ productivity is improving and the reception to our customer service has been very encouraging. We are very grateful to Musoni, they are truly a game changer in the microfinance industry.

Mr. J. Rahiman, CEO Good Brothers' Group

Good Brothers' Background

Good Brothers’ (GBS) Microfinance (MFI) is a member of GBS Group which is Myanmar’s leading 360-degree integrated agricultural solutions provider. GBS MFI provides microfinance services to the rural communities, particularly in the agriculture sector. They currently operate in 10 branches across 5 different regions. GBS adopted the Musoni System as part of their digitalisation journey in July 2021 with a current portfolio of 13K clients and 33K loans.

What is next?

Musoni System and GBS MFI are now working to launch the Digital Field Application (DFA) for use by the field officers. This digital transformation will help GBS MFI go paperless once the DFA implementation is complete. GBS is confident that the new collaboration will improve data quality and efficiency in field operations. In addition, GBS MFI is also in the process of integrating with a farm management software using the Musoni Open APIs which will enhance financial inclusivity in Myanmar’s farming community.

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