Latest Release of Open Source Software for Microfinance Includes Support for Spanish and Firefox 3.0 Browser and Interface for Banking Systems
January 20, 2010 - Grameen Foundation announced today the latest release of Mifos, its award-winning open source software platform for microfinance. Mifos 1.4 is the first version available in Spanish and also provides support for Firefox 3.0 and integration with banking and other systems. This marks a significant step forward in extending an open platform that gives the entire microfinance industry cost-effective access to technology.
Engineers at Grameen Foundation’s Technology Center in Seattle worked closely with its global community including corporate volunteers from SunGard Technology Services, as well as individual technology contributors from the United States, Europe and Australia to build the new features and additional product scalability.
The work was also supported by volunteers from Bank of America, Merrill Lynch and Catholic Relief Services, including Jesus Fernandez-Muñoz, Vice President of Financial Institutions Debt Products at Bank of America Merrill Lynch, who volunteered to translate Mifos into Spanish through Grameen Foundation’s Bankers without Borders® initiative and the Mifos community.
“The contributions of our volunteers and strategic partners are vital in helping to build new innovations into Mifos to meet the evolving technology needs of microfinance institutions,” George Conard, Executive Director of Grameen Foundation’s Technology for Microfinance Initiative. “This open approach is central to our vision for advancing technology across the industry and supports our goal of reaching 100 million new poor clients through the Mifos platform.”
About Mifos Project
Mifos is Grameen Foundation’s award-winning open source information management platform for microfinance. It provides the industry cost-effective access to a flexible technology solution that scales and evolves to help MFIs more efficiently and effectively deliver financial services to the poor. Currently Mifos is being used in production by eight microfinance institutions across India, Tunisia, Kenya, Philippines, and Senegal serving more than 550,000 clients. Mifos is part of the Technology for Microfinance Initiative based at the Grameen Technology Center in Seattle, WA. Committed to transforming technology from a barrier into an accelerator for microfinance, in conjunction with this open platform, Grameen Foundation provides business consulting, educational services, front-office innovations, and a worldwide community to create measurable business results and social impact through strategic technology investments. For more information, please visit www.mifos.org .
About Grameen Foundation
Grameen Foundation, a global nonprofit organization, helps the world’s poorest people access financial services and technology solutions by providing financing, technology support and management strategies to the local organizations that serve them. It also spearheads technology initiatives that create new microbusiness opportunities for the poor, provide telecommunications access for the world's rural poor, and improve their access to health and agriculture information and other services. Founded in 1997, Grameen Foundation has offices in Washington, D.C., Seattle, Washington, Hong Kong, Ghana and the Philippines. Dr. Muhammad Yunus, the founder of Grameen Bank and the 2006 Nobel Peace Prize Laureate, is a founding member of its board of directors, and now serves as director emeritus. For more information, please visit www.grameenfoundation.org .