Inaugural FinTech and Agent Banking Summit Heats Up the Mobile Money Revolution in Myanmar

Yangon, Burma, April 22, 2016 --(PR.com)-- There is cause for much excitement in the mobile money industry as the Central Bank of Myanmar has just released regulations on mobile financial services allowing participation from non-banking financial institutions. This move is expected to build a more enabling regulatory framework for efficient and secure mobile financial services in a country where the majority of the population remain unbanked.

Recognizing this imminent development crucial to the success of mobile money operations in Myanmar, the inaugural Emerging Asia FinTech & Agent Banking Summit 2016, to be held at the PARKROYAL Yangon hotel on the 17th and 18th of May, is poised to dive deep into mobile money issues with agent banking topics taking centre stage. The importance of financial technologies in the ecosystem will also be keenly deliberated upon.

Speakers who will share their insights and dissect critical issues pertinent to the development of mobile money operations include key representatives from Myanmar Citizens Bank, AYA Bank and Myanmar Agricultural Development Bank. Experts from the World Bank and the International Finance Corporation (IFC) will also be in attendance.

Leading technology providers such as ModeFinServer and True Money will showcase their expertise through informative presentations on stage as well as displays at the exhibition hall. Mobile money provider Wave Money and Myanmar FinTech start-ups such as MyPay will be sharing their expert opinions together with updated advice from the regulatory authorities. The engaging dialogue will come full circle with closing panel discussions that will allow both speakers and delegates to deepen and complete the exchange of critical views and information.

Maggie Tan, CEO of the event's organizer, Magenta Global, said: “One key objective of this summit is to emphasize the importance of the distribution network which is crucial in a successful mobile money operation. The agent banking model reflects well on the importance of distribution, and together with effective and secure financial technologies, provides a proven recipe that will work best with thorough end user education, adoption and a supportive regulatory environment. There will be many interesting issues to be dissected - especially in the Myanmar context - and we look forward to another meaningful summit for everyone.”

Magenta Global Pte Ltd