Initial release January 2012 (2012-01) Written in Java | Repository github.com/openMF Operating system | |
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Developer(s) Community for Open Source Microfinance / Keith Woodlock , John Woodlock Stable release 1.22.0 / May 1, 2014; 2 years ago (2014-05-01) | ||
Mifos X represents the next generation of Mifos - it is a free and open source technology platform for financial inclusion of the poor.
Contents
History
Development of the software began as an initiative of the Grameen Foundation in 2004. At the Grameen Foundation, James Dailey and Tapan Parikh realized that the software being used by most microfinance institutions (MFIs) was outdated, expensive or otherwise fell short. James and Tapan brainstormed something new: an open-source software that launched as Mifos in 2006. The name "Mifos" originally came from an acronym "MIcro Finance Open Source", but is now used as the brand, rather than an acronym. Mifos existed within Grameen Foundation until 2011, when it was decided that Mifos would split off to be an independent, open-source entity.
As part of its stewardship, Mifos Initiative has developed a completely new architecture for the Mifos platform, entitled Mifos X. According to release notes for the Mifos system published on April 30, 2013, Mifos Initiative is focusing its development efforts on the new platform, and that they would not release any further official versions of the suite beyond 2.6.x.
Features
- Supported methodologies
- Individual lending
- Village Banking
- Group lending
- Joint liability groups
- Self-help group
- Communal banks
- Loan Products
- Saving Products
- Accounting
- Reporting
- Social performance module
System requirements
Machines
Infrastructure