MICROCAPITAL BRIEF: Mifos Microfinance Software Update, “Margaret H,” adds Lao, Georgian, Mobile Interface, Spreadsheet Capability, Cloud Functionality

The Community for Open Source Microfinance, a US-based nonprofit that has taken over leadership of maintaining the open-source microfinance software Mifos from the US-based Grameen Foundation, has released its first major upgrade since the transition [1].

This release, called “Margaret H” after a client of a microbank that uses the software, includes new functionality such as automated late penalty entry, a mobile-optimized interface, a tool for importing client data via spreadsheets, integration with the open-source cloud computing platform CloudFoundry, compatibility with Android smartphones, the ability to switch languages more easily, and translations into Lao and Georgian [1].

The microbanks that use Mifos reportedly serve about 850,000 clients as of June 2011 [2].

By Natalie Baer, Research Associate

About the Community for Open Source Microfinance: The Community for Open Source Microfinance (COSM) is a nonprofit organization established in 2012 in the US city of Seattle, Washington, to manage and develop the Mifos microfinance software package. COSM’s mission is “to scale the growth and impact of microfinance by coordinating a global community that builds, supports, and uses Mifos, a free and open software system to more effectively and efficiently deliver financial services to the poor.” The microbanks that use Mifos reportedly serve about 850,000 clients as of June 2011. Mifos was launched in 2006 by the US-based Grameen Foundation.

About the Grameen Foundation: The Grameen Foundation, a nonprofit based in Washington, DC, aims to help microfinance institutions throughout the world replicate the joint-liability model of the Grameen Bank of Bangladesh. The Grameen Foundation provides financial, technological and managerial support to provide new business opportunities and telecommunication services for poor people in rural areas. Though it is independent of the Grameen Bank, Dr Muhammad Yunus, the founder of the Grameen Bank, serves on the foundation’s Board of Directors. Grameen Foundation reported total investments of USD 19.0 million and total assets of USD 27.3 million as of March 31, 2011.

Sources and Additional Resources:

[1] Announcing the Margaret H Release http://www.openmf.org/margaret-h-release/

[2] MicroCapital story, March 5, 2012, “MICROCAPITAL BRIEF: Grameen Foundation Spins Off Mifos Microfinance Institution Software to Open Source Community”
https://www.microcapital.org/microcapital-brief-grameen-foundation-spins-off-mifos-microfinance-institution-software-to-open-source-community/

MicroCapital story, December 27, 2010, “MICROCAPITAL BRIEF: Grameen Foundation Releases Updated Microfinance Management Information Software (MIS) Mifos 2.0” https://www.microcapital.org/microcapital-brief-grameen-foundation-releases-updated-microfinance-management-information-software-mis-mifos-2-0/

MicroCapital Universe profile: Community for Open Source Microfinance
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Community+for+Open+Source+Microfinance+%28COSM%29

MicroCapital Universe profile: Grameen Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Foundation

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