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Mifos X is an open technology platform for financial inclusion that provides the core functionality needed to deliver financial services to the world’s 2.5 billion unbanked.  It solves the challenge of core banking systems that are too expensive, too complicated or that have no local support.

Mifos X can be deployed in any environment: cloud or on-premise, on or offline, mobile or PC; it’s extensible enough to support any organizational type or delivery channel, and flexible enough to support any product, service, or methodology. For any organization, big or small, it will provide client data management, loan and savings portfolio management, integrated real time accounting and social and financial reporting needed to bring digital financial services in a modern connected world.  The platform is completely open via the Mozilla Public License 2.0.

The Mifos Initiative

The Mifos Initiative is a 501(c)3 non-profit incorporated in Washington State.  Its sole mission is to speed the elimination of poverty by enabling financial service providers to more effectively and efficiently deliver responsible financial services to the world’s 2.5 billion poor and unbanked. We guide the development of the Mifos X platform, an open platform for financial inclusion with a suite of simple configurable apps hosted in the cloud. We are a community of financial service providers, technology specialists, financial services experts and open source developers working together to grow this platform.

The Mifos X project spun out of the Grameen Foundation in 2011 and, thanks to generous support from Silicon Valley, The Mifos Initiative was revitalized as a U.S. based 503(c)3. Originally launched in 2006, the software was the industry’s first web-based and open source information system and was well-received winning the Duke’s Choice Award for Best Java Technology for The Open Source Community.  Redesigned and built around an API-centric, cloud-based software architecture, the Mifos X Platform is a modern, connected core banking system for responsible financial services organizations bringing basic financial services to the poor globally.

System Core Features

As of September 2014, The Mifos Platform is used by 106 organizations around the globe serving approximately 2.5 million accounts.  Installations can be found in Mali, Tanzania, Uganda, Kenya, Zimbabwe, Rwanda, Ghana, Philippines, India, Myanmar, Cambodia, Nigeria, Belize, Pakistan, Argentina, Peru, Mexico, Haiti, Laos and Morocco.  The largest is BTPN in Indonesia serving more than 1,000,000 clients.  Detailed features can be found on the Mifos X Product Requirements page.  Feature highlights are below:

Mifos X – Core Banking for Financial Inclusion

100% Open Source, Royalty Free, Worldwide, In Perpetuity

Client Management 

Unlimited Individual Patrons (Members)

Unlimited Group Patrons

Patron Approval Process

Patron Closure & Blacklists

Branch Management

Center Management

Duplicate Patron Verification

New Patron Approval Process

Document Attachment (photos, applications. ID)

Multi Language

Multi Currency

Financial Services Product Management

Savings (share) Accounts

Current (checking/share draft) Accounts

Term Deposit Accounts

Collateral Loans

Savings Secured Loans

Agriculture Loans

Open End/Top Up/Line of Credit Loans

Incremental Disbursement Loans

Village/Group Lending

Solidarity Group Lending

Loan Approval Process

Mobile Delivery and Transaction Management

Mobile Field Operations Via Tablet or Smartphone

Transaction Network Interface

Store and Forward Capability

Email Support

Bulk Loan Assignment

Bulk Collections Assignment

Open API For Easy Customization



Business Management

Chart of Accounts Management

Accrual Accounting

Statement Generation

Cash Management

Social Performance Tracking

Customizable User Permissions

Customizable Fields

Detailed Audit Trail

Profit & Loss Statement

Trial Balance

Book Closures

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