ThoughtWorks, a global technology company based in the US state of Illinois, has announced that it will provide software engineering services for The Grameen Foundation’s Mifos Platform, a software platform launched in 2006. It is billed as a “software platform for microfinance institutions that offers both an online hosted service, Mifos Cloud, and a downloadable open source edition for use on premise.” According to Rohit Bansal, Head of Thoughworks’ Social Impact Program, “We are confident that our passion to create value through technology will be a catalyst for this expansion.” George Conard, Executive Director of Grameen Foundation’s Technology for Microfinance Initiative comments, “ThoughtWorks’ technology expertise and innovative approach complements our process for innovation. Their commitment and involvement in the microfinance movement is proving to be a tremendous asset to Grameen Foundation and the industry.” The Grameen Foundation works with microfinance institutions (MFIs) in about 37 countries worldwide.

The details of the expansion are not specified, but are intended “to meet the changing demands of the microfinance industry.” Launched in 2006, Mifos is currently used by a reported 800,000 clients throughout Asia, the Middle East, Africa and the Americas.

By Julia Korn, Research Associate

About The Grameen Foundation:

The Grameen Foundation, based in Washington, DC, claims to help microfinance institutions (MFIs) throughout the world replicate the microfinance model of the Grameen Bank. It provides financial, technological and managerial support for local organizations and intends to provide new business opportunities and telecommunication services to the rural poor. The Grameen Foundation works with MFIs in about 37 countries worldwide. Though the Grameen Foundation is independent of the Grameen Bank, Muhammad Yunus, the founder of the Grameen Bank, serves on the foundation’s Board of Directors.

About ThoughtWorks:

ThoughtWorks is a global IT consulting company that provides systems development and consulting to Global 1000 companies. ThoughtWorks has approximately 1,500 employees in offices in Australia, Brazil, Canada, China, India, the UK and the US.

Sources and Additional Resources:

[1] PR News Wire. “Grameen Foundation and ThoughtWorks Partner to Extend Microfinance Technology Platform to Global Communities” on July 27, 2010. http://www.prnewswire.com/news-releases/grameen-foundation-and-thoughtworks-partner-to-extend-microfinance-technology-platform-to-global-communities-99309139.html

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

MicroCapital Universe. ThoughtWorks. hthttp://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ThoughtWorks

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