Mifos X Data Sheet July2015
Mifos X Data Sheet July2015
Mifos X for Banks, Credit Unions, SACCOs, Village Savings Groups, Village Lending Groups, Financial CoOperatives and core platform architecture. Mifos X can be deployed in any environment: cloud or onpremise, online or offline, on a mobile or a PC; it can be adopted to support any type of organization, delivery
channel, product, service, or methodology. It is easily deployable, flexible, extendable and scalable. The
platform is completely open via the Mozilla Public License 2.0.
Loans
Loan Products
Individual Lending
Group Lending
Full support for group lending structures with group repayment of common amount.
SME Lending
Business Loans
Agriculture Loans
Typically used for home construction or a project where certain goals must be met
to obtain the next loan amount.
A client can be approved for a particular sum and have access to the loan for a
period of time.
Guarantor Management
Collateral
The organization may establish collateral parameters by loan type or by individual client.
Loan Guarantors
Other account holders can use funds to guarantee loans. The percentages and
amounts are dependent upon the individual financial institutions policies.
Payments are set as Standing Instruction to pay from the guarantors account or
the borrowers account.
Loan Tools
Collection Sheets
Delinquency Control
Payment Types
Interest Rates
Amortization
Manage Holidays
Savings
Savings Products
Basic Savings Accounts
Passbook Savings
Mandatory Savings
1
www.Mifos.org
Savings Products
Interest Bearing Savings
Term Deposits
All of the above features plus required deposit schedule through maturity.
Share Accounts
Savings products are configured to the organizations strategic goals and objectives.
Savings Tools
Recurring Deposit
Standing Instructions
Interest Calculation
Interest calculated on average daily balance or daily balance and paid with
selected frequency.
Dividend Calculation
Receipt Printing
Transactional Accounts
Current/Checking Accounts
Client Management
KYC (Customer) Verification
Fully compliant with any countrys Know Your Customer rules and regulations.
Online photographs
Online signatures
Signatures tie to the client record visible on the main client screen
Application, decision documents, account agreements upload and tie to the client.
Customer Closure
Customer Blacklists
Credit Scoring
Document Templates
Product Mix
Define rules to restrict number and types of simultaneous loans per client
This tool, to be released in the second half of 2015, provides measurable data
analytics and client insight to assess the impact Mifos X makes in financial inclusion.
Business Management
Entity Management
Multi Financial Institution Support
Banks, Credit Unions, SACCOs, Village Savings Groups, Village Lending Groups,
Financial Co-Operatives.
Unlimited Accounts
Unlimited Hierarchy
Unlimited Groups, Center, Organizations for a single complex operation or a multiorganization support structure.
Branch Management
2
www.Mifos.org
Reporting
Reporting
Standard reports are included in the Mifos X platform. All are customizable using
flexible reporting engines - Pentaho and Stretchy reports.
Customizable Fields
Manage Reports
Statement Generation
Accounting
Accrual & Cash Based
Accounting
Mifos X supports both accrual accounting and cash accounting following best
business practice.
Full integration with the portfolio for automated and rule-based postings.
A standard Chart of Accounts is shipped with Mifos X. This can be customized for
the organization.
Preference for generating account numbers for client, loan and savings accounts.
Cash Management
Cash Management
Funds Transfer
Funds Management
Product Management
Central Product Configuration
Loan Configurator
Configure due date, amortization methods, terms, repayment strategies, Loan due
dates, product names, currency, maturity, fees, grace periods,
Recurring Fees
One-Time Fees
Fees such as loan application fee, processing fees are easily configured.
Define Charges
Internationalization
Multi-Currency
Multi-Language
3
www.Mifos.org
Security
Access
Authorization
Audit
Audit trails are maintained and multiple audit reports are included in the core platform.
Designed for field officers to interact with the Mifos X platform from the field.
On-line / Off-line
Store & Forward Capability
For field officers heading to remote areas, they sync their handheld device at the office,
head out to the field to conduct business and sync upon their return to the office.
SMS Messaging
Manage Hooks
Preference for generating account numbers for client, loan and savings accounts.
Global Configurations
Scheduler Jobs
Manage Codes
Codes are used in drop down fields and are customizable to organizational requirements.
System Requirements
Hardware (minimum)
Browser
Chrome 35 or higher
Firefox 35 or higher
Safari 7 or higher
Internet Explorer 10 or higher
Operating System
Linux 64 Bit
RHEL/CentOS 6 or higher
Debian Wheezy (7.0) or higher
Ubuntu 12.04 LTS or higher
Windows 64 Bit
Windows Server 2012 R2
Mac OS
Mac OS X 10.8 or higher
Software
Mobile Application
4
www.Mifos.org