Mifos at a glance
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Mifos is an open source information system designed for microfinance institutions (MFIs) to help scale their operations and provide transparent reporting to capital sources. It aims to close the digital divide for MFIs by providing a browser-based system hosted on servers with data links that is customized by an open source community and supported locally, helping MFIs efficiently manage over 100 million clients living on less than $2 per day across developing countries.
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Mifos at a glance
- 1. Mifos at a glance Microfinance is proven to work against global poverty Decades of experience, millions of success stories Challenge is to scale: reach more people, attract more capital Need efficient, large scale operations systems Need transparent and consistent reporting to capital sources Mifos is an Info. System for Microfinance Institutions (MFIs) Open source, java based, international development 3 billion people live on less that $2/day 100 million clients Microfinance Institutions Capital Markets and Funding Sources Data and Reporting Operations Management Funds Close the Digital Divide for MFIs Loans Today Paper and spreadsheets, little or no connectivity Off-shelf solutions don’t fit, homemade won’t scale Minimal or no technical support Mifos Servers and data links, browser interface Localized, customized by open source community Local support by trained Mifos Specialists Govt. regulatory World Bank, CGAP NGO support