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:

  - 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

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

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

 - 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. 

Client Management

• Client Identification (KYC)

• Client Relationship Management

• Client Risk Analysis

• Client Education

• Client Protection

• Social Performance Management

• institutional Management (Office Hiearchy)

• Client Management   Unlimited Individual Patrons (Members) Unlimited Group Patrons Patron Approval Process Patron Closure & Blacklists Branch Management Center Management Duplicate Patron Verification New Patron Approval Process Document Attachment (photos, applications. ID) Multi Language Multi Currency

Mobile Delivery & Enablement

• Mobile Field Tools & Processes
• Continue the development of Android app.  According to the Gates Foundation, “In wealthier countries, people conduct most of their financial activities in digital form, and value is stored virtually and transferred instantaneously. The global revolution in mobile communications, along with rapid advances in digital payment systems, is creating opportunities to connect poor households to affordable and reliable financial tools through mobile phones and other digital interfaces.  In fact, research has shown that the most effective way to significantly expand poor people’s access to formal financial services is through digital means. In addition to cost savings, digital financial services offer a wide array of benefits:
• Mobile Financial Services and Products (Micro-savings)
• Mobile Payments, Transfers, and Remittances (M-Pesa)
• Mobile Delivery Channels (Agents & Correspondents)

• Mobile Field Operations Via Tablet or Smartphone

  Transaction Network Interface

  Store and Forward Capability

  Email Support

  Bulk Loan Assignment

  Bulk Collections Assignment

  Open API For Easy Customization

Business Management

Reporting & Business Intelligence

Accounting & Financial Control

Internal Control/Audit Features.  There are a few best practice features that need to be spec’d out and put into the development flow.  These include:  Locking employee out of transacting on their personal account and family relationship accounts; logging unsuccessful sign on attempts; allowing user to log on at multiple locations simultaneously (e.g. 3PCs in office, can log on to all three); generating report of supervisory overrides; for those FIs with multiple branches, system should flag “branch hopping” or multiple transactions at different locations; 

Cash Management.  The system must be able to track teller cash, vault cash, branch cash and organization cash.  Cash must be able to be balanced (reconciled) every working day and be assigned to individual system users.  The organization’s cash must be reconciled to the monthly bank statement.  This enhancement is currently in development and is expected to ship in xxx release.

• Reconciliation will still be a gap – Dayna has communicated these gaps and features into the feature spec.

Loan Collections

Off Balance Sheet Collateral tracking has been requested as a system feature.  This is useful to those organizations that use gold or investment instruments as collateral for loans. 

Check Management & Printing.  This will require system enhancement to keep track of checks printed and track the numbers.  This has not come up as a client requirement and will remain low on the enhancement priority list.  

Business Process and Rules

Client Approval & Processes

Business Management

Chart of Accounts Management

Accrual Accounting

Statement Generation

Cash Management

Social Performance Tracking

Customizable User Permissions

Customizable Fields

Detailed Audit Trail

Profit & Loss Statement

Trial Balance

Book Closures

Entity Management

Security

Data Scoping

Authentication

Authorization (Permissioning)

Audit

Usability & Navigation (Accessibility)

In-app help.   This is a good volunteer opportunity to build tool-tips and content-sensitive help within MIFOS X.  The help can point to existing user documentation.

Bulk Processes

Off-line (store and forward)

Deployment