...

Branch Management

Status
colour Green title Complete

 - With Mifos X, the user can manage branch offices, groups, and banking centers with ease. The system is centrally administered such that new products and system-wide changes can be rolled out in real-time. The architecture of the Mifos X platform is fully multi-tenant such that one can achieve economies of scale by running off of one instance of the application with separate databases.

Reporting

Reporting - Standard reports are included in the Mifos X platform. All are customizable using flexible reporting engines - Pentaho and Stretchy reports.

Customizable Fields - With Mifos X, fields can be customized to accurately reflect the organization including product names, account numbers, and required fields.

Manage Reports - Statement Generation - Add new reports to the system, and classify/arrange pre-existing reports into specified groups.

Statement Generation - The Mifos X user can generate customer statements that have the ability to either be printed or emailed.

Accounting

Accrual & Cash Based Accounting -  Mifos X supports both accrual accounting and cash accounting following best business practice.

General Ledger Integration -  Mifos X offers full integration with the portfolio for automated and rule-based postings.

Journal Voucher Support - Full GL and journal voucher entry supported by Mifos X.

Chart of Accounts Management - A standard Chart of Accounts is shipped with Mifos X.  This can be customized for the specific needs of the financial institution.

Flexible Accounting Classifications - Account Number Preferences - Fees can be integrated with liability or expense accounts to facilitate the collection of premiums and other charges.

Account Number Preferences - Mifos X supports preference for generating account numbers for client, loan, and savings accounts.

Business Rules and Workflows

User Permissions - Workflows (Entity Data Table Checks) - Fully customizable user permissions by position and by individual. Mifos X allows the admin to restrict operations to users unqualified for specific operations and tasks.

Workflows (Entity Data Table Checks) - Define simple approval workflows for clients, loans, and savings by the ability to define and require data tables to be captured at specific lifecycle stages.

Cash Management

Cash Management - Mifos X allows the user to track cash flow from the central bank, branch to branch, and even vault to cashier.

Funds Transfer - Funds Management - With Mifos X different internal branches have the ability to transfer funds amongst each other.

Funds Management - The Mifos X user can manage funds associated with their loans. Integration with the full general ledger is supported.

Central Product Configuration

Loan Configurator - Savings Products Configurator - Configure due dates, amortization methods, terms, repayment strategies, loan due dates, product names, currency, maturity, fees, and grace periods all with Mifos X.

Savings Products Configurator - Use Mifos X to configure the Product name, currency, terms, minimum balance, lock-in, interest, fees, and compounding periods.

Account Number Preferences - Generate unique account numbers for client, loan and savings accounts with Mifos X.

Fees and Charges

Membership Fee - Mifos X supports one-time membership fees.

Late Fees & Automatic Penalties - Mifos X allows the user to charge late fees and automatic penalties when necessary.

Recurring Fees - 

One-Time Fees - 

...