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Mifos

Open Source Technology for Accelerating Microfinance
Software information
DeveloperGrameen Foundation
Initial releaseOctober , 2006
Stable release2.1.3
Latest release dateMay 31, 2011
Written inJava
Operating systemCross-platform
File size75.5 MB
Available inJava
TypeMicro Finance
LicenseApache License v2.0
WebsiteMifos

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Mifos is an initiative of the Grameen Foundation and the financial software that it produces for the microfinance industry. The software provides key functionality for microfinance institutions: client management, portfolio management, loan repayment tracking, fee and savings transactions, and reporting . (The name "Mifos" originally came from an acronym "Micro Finance Open Source", but is now used as the name, rather than an acronym.) The product is supporting more than 850,000 microfinance clients across 28 microfinance institutions as of June 2011 and continues to grow its presence across the globe. To further enhance the reach of the product, Grameen Foundation launched Mifos Cloud in July 2010. On June 1, 2011, Grameen Foundation announced that it would be involvement with the Mifos Initiative and transitioning it to a completely community-led project. Transition to the community is underway; as part of this transition its Mifos Cloud service was discontinued.


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