Yangon, 23 January 2017: Southtech Limited has recently signed agreements with 4 microfinance institutions from Myanmar to automate their microfinance operations with Southtech Ascend Banking. Southtech Ascend Banking, an award winning and internationally acclaimed Banking and Microfinance Management software was earlier implemented in PACT Myanmar’s microfinance operation as well as in BC Finance Limited.
Southtech Limited’s customer portfolio now includes Border Areas Development Association (BDA), Ratana Metta Organization (RMO), Ar Yone Oo Social Development Association (AYO) and Environmental Conservation and Livelihood Outreach Foundation (ECLOF). They are partners of PACT Global Microfinance Fund and are working in Myanmar towards social development, environmental conservation, and border area development.
In a ceremony held in Yangon, higher authorities from each of the organizations signed the agreements, marking the beginning of a fruitful relationship between the firms. The team from Southtech was led by Managing Director and CEO, Syed Mamnun Quader who stated “these new agreements are a great start to the New Year and mark our continued effort into developing this market. We look forward to growing further in Myanmar with the help of our customers and we hope they will benefit from us too”. The team from Southtech was accompanied by Mr. Bijan Bishi, Managing Director of Trust Technologies Limited and business partner of the Southtech Group in Myanmar.