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

Funds Management - 

Central Product Configuration

Loan Configurator - 

Savings Products Configurator - 

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

Central Product Configuration

Loan 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 - Recurring fees can be configured to the financial institution's desire. Allowing them to charge clients on a regular basis.

One-Time Fees -  

Global Application of Fees - 

Flexible Accounting Classifications - Non-recurring fees such as a loan application fee or a processing fees are easily configured.

Flexible Accounting Classifications - Mifos X allows fees to be integrated with liability or expense accounts to facilitate the collection of premiums and other charges.

Define Charges - Clearly define charges and penalties for the products your financial institution offers.

VAT Tax Withholding - 

Internationalization

Multi Currency Support assessing and collecting tax as a percentage of interest by defining tax components and tax groups and attaching as charges.

Internationalization

Multi Currency

Status
colour Green title Complete

 - Mifos X support regional currencies and can support mixed currencies.

Multi Language

Status
colour Green title Complete

 

Status
colour Yellow title In Development

 - Mifos X currently supports: Spanish, English, Georgian, French, Portuguese, Vietnamese, Chinese, Lao, and Hindi. Additional translations are in development.

Security

Access - 

Authorization - 

Audit - 

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oAUTH data protection, granular role-based or individual based permissions and maker & checker (4-eyes) capabilities all within Mifos X.

Authorization - Authorization can be configured by the individuals within the financial institution. Abilities can be customizable by job and by user .

Audit - Audit trails are maintained and multiple audit reports are included in the core platform.

Client Messaging & Self-Service Operations

Event-Based SMS Messaging - 

SMS Campaigns - 

Self-Service APIs - -Based SMS Messaging - Send automated event-based messages (meeting/payment reminders/receipts) to clients triggered by web hooks.

SMS Campaigns - Set up, send, and manage the delivery and receipt of bulk SMS campaigns to segmented groups based on simple business rules and filters.

Self-Service APIs - Full set of self-service APIs to support the creation of client-facing web and mobile banking apps. Clients can authenticate themselves and perform the following operations: view own savings/loan account details, transfer funds between their own accounts, transfer funds to other clients at same organization, apply for new loan accounts, and repay loans.

Mobile Field Tools & Processes

Android Field Operations App -Field Operations App - The mobile application is designed for field officers to interact with the Mifos X platform from the field.

Mobile Field Operations Via Tablet - On-line / Off-line (Store & Forward Capability) - Mifos X functionality on for field operations in the most remote areas.

On-line / Off-line (Store & Forward Capability) - For field officers heading to remote areas, they can sync their handheld device at the office, and then head out to the field to conduct business and sync upon their return to the office.

Mobile Money Integration - Through its modular architecture, Mifos X supports mobile money integrations.

System Migration & Configuration Tools

Entity to Entity Mapping - With Mifos X, the user can define or modify old entities to new ones.

Manage Hooks - 

Account Number Preferences - 

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