| Table of Contents |
|---|
Introduction
The existing Mifos MIS (2.2.x and earlier) application consists of functionality around a number of areas useful to MFIs (portfolio management, accounting, reporting etc). At present, there is lots of improvements needed around the portfolio management functionality to make it more flexible for existing MFIs and more suitable and attractive for other MFIs not currently on mifos.
This project is concerned with re-implementing the portfolio management aspect of the MIS to build in the flexibility and extra functionality required in this area.
At present portfolio management in mifos encompasses the following:
- Clients
- Groups
- Loans
- Savings
- Charges, Fees and Penalties
Project Timeline
- July 15th, 2011 - Project prosposed given transiation of mifos from grameen to mifos community.
- July 29th, 2011 - Delivered initial demo of improvements around loan lifecycle and date flexibility.
Project Roadmap
In general the plan is to focus on getting extra functionality and flexibility around the client, group and loan areas of mifos (which includes support for charges, fees and penalities).
To begin with, this is centered around clients and individual loans and then moving onto better support for groups and group loans.
This subset of functionality in portfolio management side is suitable for a number of MFIs that are presently using mifos.
After this, the focus will move towards savings functionality and better support for integrated savings and credit products and any other products used by MFIs such as insurance.
This subset of functionality in portfolio management will improve things for a number of MFIs using mifos and also attract other MFIs to use the software that previously did not.
Demo Details
You can access the latest demo of this prototype at:
Multi-tenant
Data is created for two organisations to demonstrate multi-tenant capability of mifosX over mifos 2.2.
Organisation Name | Allowed currencies |
|---|---|
Indian MFI (INR) | Indian Rupee (INR) |
West African MFI (XOF) | CFA Franc BCEAO (XOF) |
By default Offices, Staff and Loan Products have being created for each organisation.
Indian MFI (INR) Organisation
Two Offices have been created for this organisation:
- Indian MFI (INR) Head Office
- Indian Mfi Branch 1
One Staff member of type Loan Offcier is created for each office:
- Pradeep (head office)
- Udai (branch office)
Two Loan Products are created for the organisation:
Name | Currency | Digits after decimal | Description |
|---|---|---|---|
Income Generating Loan (Flexible) | INR | 0 | Flexible loan that allows user to edit principal and interest of installments at creation. |
Income Generating Loan (Automatic) | INR | 0 | Loan with automatic generation of loan schedule using Flat interest calculation method. |
The following users are created:
Username | Password | Permissions | Note |
|---|---|---|---|
dataentry1 | password | Full Loan Portfolio | is allowed execute all operations on loans (including with dates in the past) |
dataentry2 | password | Custom Loan Portfolio | is allowed execute all operations on loans (but not with dates in the past) |
West African MFI (INR) Organisation
Two Offices have been created for this organisation:
- West African MFI (XOF) Head Office
- West African MFI Branch 1
One Staff member of type Loan Offcier is created for each office:
- Kojo (head office)
- Gayl (branch office)
Two Loan Products are created for the organisation:
Name | Currency | Digits after decimal | Description |
|---|---|---|---|
Income Generating Loan (Flexible) | INR | 0 | Flexible loan that allows user to edit principal and interest of installments at creation. |
Income Generating Loan (Automatic) | INR | 0 | Loan with automatic generation of loan schedule using Flat interest calculation method. |
The following users are created:
...
Username
...
Password
...
Permissions
...
Note
...
dataentry3
...
password
...
Full Loan Portfolio
...
is allowed execute all operations on loans (including with dates in the past)
...
dataentry4
...
password
...
Custom Loan Portfolio
...
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
Mifos X is a globally used platform for all types of financial institutions. See the current platform features here.
Mifos X Mailing Lists
You are highly encouraged to sign-up for Mifos mailing lists. This is the place for developers and users of MifosX to share their learnings, experiences, and ask questions to the community. MifosX core contributors are friendly (a few of them even have a sense of humor!) and always ready and willing to help contributors out in these mailing lists. There are two mailing lists. Technical contributors are recommended to join both the lists.
- Developer Mailing List
- MifosX Users Mailing List
Note: You must subscribe to the mailing list using the sourceforge link. When you join the mailing list, you will get an email. Click on "Reply" and send the email back to get subscribed to the mailing list.
For chatting with the community members on IRC channel, and to understand emailing etiquette for the mailing lists, please refer: http://mifos.org/community/communications
How can you help Mifos X
We currently use JIRA to create issues and track work items going on in the project so its transparent and visible to all. If you are a newbie developer, and want to pick up relatively simpler work items to get familiar with MifosX, then you can browse through Work Items labelled as "Introductory".
To get involved, review our Developer Zone.