This document outlines the total functionality that could be built onto the Mifos core banking platform. It will document both the functionality that currently exists as well as a forward-looking roadmap into the functionality that the platform will (and in some cases will not) evolve to support. Each feature will be classified according to the following color-coded legend:

COMPLETE  - completed feature that has already been developed as part of the platform (or a module/service connecting to that platform) and shipped as a public release.

IN DEVELOPMENT - feature that is actively being developed and will be shipped in the next 1-2 release cycles.

SCHEDULED IN ROADMAP - feature of high priority that has been scheduled as part of the product roadmap and will be developed.

FUTURE ENHANCEMENTS - feature that has been documented as a potential requirement but has not currently been scheduled or prioritized as part of the product roadmap.

This document is geared towards business-level stakeholders seeking to understand the functionality of the Mifos X platform and the product vision. It will be completed by several other documents:

• Feature List: High-level snapshot of the current functionality in the Mifos X platform. 
• Product Roadmap: The annual roadmap of features and enhancements that are being prioritized to help us achieve this set of product requirements
• Functional Specifications: Detailed user stories and functional requirements to build each of these features. This is useful for developers building the features and once the feature has been built, for implementers to understand how to properly configure the feature. 
• User Manual: each feature will be also be fully documented from an end user perspective on all its various parameters for configuration.
• JIRA Tickets - each feature will be broken down into various user stories and development tasks that will be scheduled into each development iteration  which will be be packaged into regular releases.

An invaluable reference guide to understand the various products and services and policies and processes to effectively deliver financial inclusion is the New Microfinance Handbook published by CGAP. Download it here. 

Loan Products

Individual Lending - Use Mifos X to create individual loans that can be configured to be either secured on unsecured. A full range of fixed term and installment loans can be defined for individuals including collateral-backed loans, variable installment loans, floating interest rate loans, and top-up loans. 

Group Lending - On top of individual loans, Mifos X has been designed to fully support the various group lending methodologies including Grameen-style group loans, joint liability group loans which are all tracked in our loan cycle counter. Group loans are a single loan to an entire group with a common amount while joint liability group loans are individual loans amongst a member of a group with a collective guarantee. Group repayment of common amount is supported with Mifos X.

SME Lending - Lending to small and medium sized enterprises is supported through Mifos X.

Business Loans - The user can create loans that are designed to stimulate and support business growth.

Agricultural Loans - Through Mifos X, agricultural loans can be assigned and even structured around the harvest season.

JLGL (Joint Liability Group Lending) - Joint Liability Group Lending, which is the process of individual loans amongst a member of a group with collective guarantee, is backed by Mifos X.

Incremental Disbursement Loans - These loans are typically used for home construction or a project where certain goals must be met to obtain the next loan amount. They are supported by Mifos X.

Open End Lending - Mifos X offers the ability to approve a client for a particular sum and grant him/her access to the loan for a specific period of time.

Variable Installment Loans - Fully configurable repayment schedule for agricultural loans in which to define installment amounts and the period of time between installments.

Custom Loan Program - Mifos X allows the user to fully configure loan products to customize names, rates, and repayment methods.

Guarantor Management

Collateral - 

Loan Guarantors - 

Automatic Loan Payment Transfers - 

Loan Tools

Collection Sheets - 

Bulk Loan Reassignment - 

Delinquency Control - 

Reassign Loans Between Branches - 

Payment Types - 

Loan Frequency Rescheduling - 

Loan Cycle Tracking - 

Floating Interest Rates - 

Amortization - 

Automated Loan Payment - 

Manage Holidays - 

Loan Loss Provisioning - 

Loan Rescheduling/Refinancing - 

Manage Non-Performing Assets - 

Savings Products

Basic Savings Accounts - 

Passbook Savings - 

Mandatory Savings - 

Interest Bearing Savings - 

Term Deposits - 

Recurring Deposit Term Accounts - 

Share Accounts - 

Custom Savings Programs - 

Savings Tools

Recurring Deposit -

Standing Instructions - 

Interest Calculation - 

Dividend Calculation - 

Receipt Printing - 

Dormant Account Management - 

Amount-Interest Rate Charts - 

Transactional Accounts

Current/Checking Accounts - 

Overdraft Automatic Transfer - 

Client Management

Client Identification (KYC) COMPLETE - Mifos X fully supports KYC requirements, allowing you to store customer photos and signatures and upload a range of identity documents which can be searched and catalogued by their unique identifiers. Personal data is protected through strong KYC tools, layered account verification and the security built into the architecture of the platform itself. Fully compliant with any country’s Know Your Customer rules and regulations.

Online Photographs And Signatures COMPLETE - Photographs and signatures tie to the client record visible on main client screen.

Document Attachment (Photos, Applications, IDs) COMPLETE - ID card, passport, driver's license can be captured with supporting image. Application, decision documents, account agreements upload and tie to the client.

Data Tables COMPLETE -Collect any type of user-defined data and attach at any entity or record (client, group, loan, etc.) - all data can then be analyzed and reported on.

Client Relationship Management COMPLETE - Any type of additional information for a client can be capture via our data tables or surveys modules. Data tables allows you to create custom forms to capture any type of data for any entity within Mifos X. Surveys including the PPI and other SPM frameworks can be defined and captured within Mifos X. Notes are supported within each client. Currently on our roadmap is basic CRM functionality for complaints handling and case management. Accounts and loans will tie into master client account.

Customer Closure and Blacklists COMPLETE - Close individual account or the entire client and blacklist clients no longer eligible for services.

Client Risk Analysis COMPLETE - Use tools such as Client Monitoring, Credit Scoring, Document Templates, and Product Mix to analyze the risk your client poses. Review new customer applications prior to opening accounts with a customer approval process and blacklist clients no longer eligible for services with the Customer Blacklist tool. With the Client Risk Analysis tool, the user has the ability to track client behaviors to identify potential risk areas.

Credit Scoring COMPLETE - Mifos X offers the ability to track client behaviors to identify potential risk areas. Additionally, the user can score credit based on criteria set up by the organization. Using our data tables and reporting framework, one could configure their own homegrown credit score within Mifos.

Document Templates COMPLETE - Standard communication templates for client communication and WYSIWYG editor to create user-facing documents dynamically populated by data from Mifos.

Product Mix COMPLETE - Use Mifos X to define rules to restrict number and types of simultaneous loans for individual clients.

Social Performance Management COMPLETE - Surveys including the PPI and other SPM frameworks can be defined and captured within Mifos X. Integration with the Progress out of Poverty Index (PPI) scorecard available for all countries. Use the MPAT (Multidimensional Poverty Assessment Tool), which provides measurable data analytics and client insight to assess the impact Mifos X makes in financial inclusion.

Business Management

Multi-Functional Institution Support COMPLETE - Mifos X can be deployed for the use of a variety of financial institutions. The platform supports a broad range of entities or operational methodologies – Banks, Credit Unions, SACCOs, Cooperatives, Credit Societies, Microfinance Institutions, Savings Groups, Peer to Peer Lenders, and Asset Financers. No matter your means of operation, Mifos X is easily customizable to fit the needs of your financial institution.

Unlimited Individual Patrons (Members) COMPLETE - We wanted Mifos X to be scaleable to have the ability to support extremely large financial institutions. So, with Mifos X, there is no restriction on the number of accounts you can create. The user can configure unlimited savings, loans, and share accounts. Don’t let your business be restricted by an un-scaleable platform, instead, grow your business with Mifos X.

Unlimited Hierarchy - 

Branch Management 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 - 

Customizable Fields - 

Manage Reports - 

Statement Generation - 

Accounting

Accrual & Cash Based Accounting - 

General Ledger Integration - 

Journal Voucher Support - 

Chart of Accounts Management - 

Flexible Accounting Classifications - 

Account Number Preferences - 

Business Rules and Workflows

User Permissions - 

Workflows (Entity Data Table Checks) - 

Cash Management

Cash Management - 

Funds Transfer - 

Funds Management - 

Central Product Configuration

Loan Configurator - 

Savings Products Configurator - 

Account Number Preferences - 

Fees and Charges

Membership Fee -

Late Fees & Automatic Penalties - 

Recurring Fees - 

One-Time Fees - 

Global Application of Fees - 

Flexible Accounting Classifications - 

Define Charges - 

VAT Tax Withholding - 

Internationalization

Multi Currency COMPLETE - Mifos X support regional currencies and can support mixed currencies.

Multi Language COMPLETE 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 - 

Client Messaging & Self-Service Operations

Event-Based SMS Messaging - 

SMS Campaigns - 

Self-Service APIs - 

Mobile Field Tools & Processes

Android Field Operations App -

Mobile Field Operations Via Tablet - 

On-line / Off-line (Store & Forward Capability) - 

Mobile Money Integration - 

System Migration & Configuration Tools

Entity to Entity Mapping -

Manage Hooks - 

Account Number Preferences - 

Global Configurations - 

Scheduler Jobs - 

Manage Data Tables - 

Manage Codes -