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- A MFI client wants to know what her current loan balance is. She sends a SMS text message to a phone number at her MFI that says "balance". Thirty seconds later, she receives a SMS text message with the amount of all her current loan balances, the balance in her savings account, and the date and amount of her next loan payment.
(Note: this requires Mifos to have a mobile phone number associated with an individual and their loan accounts. For security reasons, Mifos would only send balance information to the mobile phone number associated with the account. An alternate implementation would be to require an account number and PIN in the original SMS message - e.g. "balance 98765432 1234", however this is a bit more complex for both the user and the system.) - An MFI wants to reduce the amount of paper data entry done by their loan officers. Instead of recording transactions on a ledger at a group meeting, the Loan Officer can record that Client A has just paid amount X into their savings and amount Y into first loan account, and amount Z into their second loan account - all with a single SMS message sent to the Mifos system. A confirmation SMS message is then sent to both the loan officer and the microfinance client. Alternatively, the loan officer can record that all anticipated moneys were received/paid out with one simple message instead of individual X/Y/Z messages, see Trickle processing SMS for Collection Sheets.
- A Mifos report identifies clients that have an outstanding (late) loan amount. At the initiation of the MFI loan officer, an SMS message is sent to each of those clients notifying them of the amount due and reminding them of the date of their next group meeting.
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- Mifos Mobile Project - Look here for all the latest work and discussion on Mifos Mobile
- Mifos API - Mifos API that will continue to evolve over time.
- Background M-Banking Information - Past research and development into M-banking